Homework: Web3.0 and Tokens

Ethereum 101
#1510

#1.- Web 3.0 ( decentralized internet ) is leading people that invest in and use it
to a value based system that allows users the opportunity to compete against the
hogs that captured the value of the internet.
#2.- Tokens are a digital asset that can be built on ERC-20 , 721 , 1155 plus, and can be fungible or non-fungible built on top of ethereum
#3.- Tokens can be created through a smart contract using Ethereum as a platform

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#1511
  1. One advantage is that a decentralized internet allows the users to be the beneficiary of the value of the content posted.
  2. A token is a fungible for non-fungible asset built on top of coins like Ethereum.
  3. A token can be created by writing a smart contract built on top of a coin like Ethereum.
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#1512

  1. To build micro economies is a more organic form. To create peer to peer communications and to decrease any intermediaries in transactions, and to be more transparent.

  2. A token is code created to perform a set of rules.

  3. By writing in Solidity and applying set rules or standards using smart contracts

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#1513

  1. Protocol captures the value from what is built on top. Can compete against existing monopoly’s. Users can earn money by providing valuable content and engaging within the community.

  2. A token is built upon a existing blockchain. Can represent different things.

  3. You could follow a standard such as ERC-20 or ERC-721 or ERC-1155 depending on what the use case of the token is.

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#1514
  1. What are the benefits of web 3.0 (decentralized internet)?

Unlike with Web 2.0, where the protocols like http and tcp, failed to get any of the value and it was the application developers (Google, Facebook, WhatsApp, Amazon, Twitter, etc.) who got all the value instead. In web 3.0 it is the other way around where the protocols have gained the value in the space. For example, Ethereum there are a lot of dapps built on top of it. And none of these dapps have a higher value than Ethereum in market cap. These dapps that are built on top of the ethereum protocol rely on the ethereum coin to execute their instructions in their smart contracts. So, if any of these dapps were to gain mass adoption and success then it’s a good probability that the value of ethereum (the protocol) will increase with it. Another benefit is that it has caused a paradigm shift in allowing smaller start ups a chance to compete with the big corporations by being able to create their own niche economic system when creating their own cryptocurrency. In this niche economic system with its own token made it creates an economic incentive to get people who are early adopters to have some skin in the game and being owners of the token of the project, this incentive will get them to go out promote the project to gain more users to come on board, which over time will increase the market value of the start up.

  1. What is a token?

A token is a digital asset that can be fungible or non-fungible and has a token standard (ERC20 for fungible, ERC721, ERC1155 for NFTs) when it is being programmed on a smart contract that will be deployed on the Ethereum coin protocol. Also, a token that is made for a dapp on the ethereum protocol is used to help give economic incentive to early adopters to help build and grow the dapp by trying to increase the users. Owning the token(s) gives them some skin in the game in that dapp’s overall success.

  1. How do you create a token on Ethereum?

To create a token on Ethereum I would program a smart contract using solidity and deploy my contract on to the Ethereum network using the ERC20 token standard in my code of my smart contract, if it’s going to be a fungible token. If I wanted to create a unique non-fungible token instead, I would need to use the ERC721 or ERC1155 token standard in my code in my smart contract.

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#1515

Hello,

  1. Startups can compete with multinational companies and people collectively control different economic models

  2. A token is a cryptocurrency (which can be fungible or non-fungible) which is built on blockchains such as Ethereum, EOS etc

  3. By deploying a smart contract on ethereum we can create a token.

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#1516
  1. What are the benefits of web 3.0 (decentralized internet)?

Web 3.0 allows internet users to interact with different blockchains in an easy to use manner. For the first time, internet users can be rewarded for their participation and usage of different blockchain platforms and protocols via airdrops, token sales, investments, liquidity, etc. This is something never before seen in history.

  1. What is a token?

A token is a programable cryptographic asset that operates on the Ethereum blockchain and is governed by a smart contract.

  1. How do you create a token on Ethereum?

You deploy a smart contract using the ERC-20 standard.

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#1517

  1. Web 3.0 is revolutionizing the internet and gives ample opportunity to start up companies by utilizing the “network effect” to everyone’s advantage. Basically, users (early adopters) are incentivized if they interact with the DApp. So, as more users are inclined to use the DApp the company will increase its value as well. In many ways, web 3.0 is beneficial to both user and creator.

  2. Token can be fungible or non-fungible that represents values defined by the creator of the token.

  3. In Ethereum, token must be created based on the ERC20 Token Standard.

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#1518
  1. What are the benefits of web 3.0 (decentralized internet)?
    The chance is there for smaller ideas and companies to gain traction as early adopters can be motivated to adopt a new service through tokenization and the possibility of earning some by adopting/contributing to the system.
  2. What is a token?
    A token is an asset on the Etherium chain ownership of which can be changed to another person on the blockchain. Tokens can be fungible or non-fungible.
  3. How do you create a token on Ethereum?
    tokens are created by smart contracts where the characteristics of the token are defined.
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#1519
  1. What are the benefits of web 3.0 (decentralized internet)?
    We do not rely on one centralised website / products. The additional benefits include rewarding the adopters for using the protocols rather than only benefiting the products that are built on top of the protocol.
  2. What is a token?
    Token is smart contract that can be used for participation in a new protocol developed on top of Ethereum (or other blockchain)
  3. How do you create a token on Ethereum?
    Tokens are created by launching the smart contracts on Ethereum network
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#1520
  1. What are the benefits of web 3.0 (decentralized internet)?
  • The value is not being captured only at the application level but also the protocol level. As all actors on the network participate and make it grow, all actors earn their share of the value, not just a handful like nowadays.
  • It provides new economic models and solutions to a lot of application that could compete with established mega-companies by sharing the value of their business with their customers (Steemit)

  1. What is a token?
    A token is a fungible or non-fungible tradable asset stored on the Ethereum blockchain.

  2. How do you create a token on Ethereum?
    You create a token by creating a smart contract. It is now super easy as standards have been improved with ERC20 for fungible and ERC721 for non NFTs

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#1521

1-A decentralized internet would give the opportunity for smaller companies to compete with large corporations, web3.0 can interact directly with blockchain, and enable a new role of aplications.
2- a token is a smart contract developed on etherium, eos, …

#1522
  1. A new economic model where the protocol layer and technologies get all of the value (bitcoin, ERC20 tokens, Dapps etc). Also various networking models designed to incentivize adoption (especially early adoption).
  2. An token is a digital asset (fungible or non fungible) build on a blockchain like etherium using a smart contract.
  3. By creating a smart contract. For an ERC20 a certain template must be adhered to which has certain funcles such as balanceOf, a total supply function, a rtansfer function etc.
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#1523
  1. What are the benefits of web 3.0 (decentralized internet)?
    the value is captured by the protocols and no only the apps build on top of them
  2. What is a token?
    is a digital asset build on top a certain blockchain.
  3. How do you create a token on Ethereum?
    Tokens can be created through smart contracts
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#1524

  1. Better for equal or more fair opportunities (anti-monopolistic). Decentralized internet allows smaller groups/companies to compete with larger corporations as the economic rewards and incentives are large in the early stages and lessen overtime. In the later stages, the value of the tokens have (hopefully) appreciated in value. Nominal reward vs. market value.

  2. A fungible or non-fungible medium of exchange smart contract on a blockchain.

  3. Tokens are minted by creating a smart contract on, most likely a standard like ERC-20, with certain parameters on the relevant blockchain.

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#1525

Loved your answers. It’s easy to understand. Great work. :clap:

Carlos Z.

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#1526
  • How do you create a token on Ethereum?

I guess you forgot to type your answer to this question. :nerd_face:

If you have any more questions, please let us know so we can help you! :slight_smile:

Carlos Z.

#1527

  1. What are the benefits of web 3.0 (decentralized internet)?
    Web 3.0 provides value at the base protocol layer and allows for incentivizing the network affect for early adopters of distributed projects.

  2. What is a token?
    A token is a smart contract, piece of code, which runs on top of a blockchain base layer which manages other fungible or non-fungible digital assets.

  3. How do you create a token on Ethereum?
    Ethereum has smart contract standards for creating tokens such as ERC20 for fungible (all the same) tokens and ERC721/ERC1155 for non-fungible (unique) tokens (aka NFT).

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#1528
  1. One of the benefits of a decentralized internet is that value is created at the protocol level instead of the application level. This means those who contribute to the build of technical infrastructure and content may benefit through token rewards instead of the central app taking in the value at that level as has been the case with Web 2.0. Another benefit is the central internet has more ability to own, change, or hide your data, your digital creations whereas the decentralized internet has more transparency as to who is doing what with code and the data is copied across the world, but in such a way as to lock in both content and ownership.
  2. A token is a smart contract reward built on a foundation coin such as Ether which is built using blockchain technology and has many options for building due to Turing Complete languages such as Solidity and Viper. The use of tokens along with Smart Contracts and Web 3.0 on the Ethereum network is an overall experience called a Dapp.
  3. You create a token on Ethereum by writing a Smart Contract using the ERC20 standard that includes rules for getting token rewards.
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#1529

  • What are the benefits of web 3.0 (decentralized internet)?
    A decentralized internet means more security for users, more control over their own data, creating economies where people can be compensated for their contributions.

  • What is a token?
    A token represents its own currency and is programmed on top of Etherium. There are fungible tokens which means they are all identical and have the same value or Non-Fungible that may represent value in a game and are coded with different ERC standards.

  • How do you create a token on Ethereum?
    A token is created with a smart contract using the ERC20 standard.

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