Homework: Web3.0 and Tokens

Ethereum 101
#1590

  1. The benefits of web 3.0 are huge. You now for the first time have protocols that have actual value. Not just the applications that are being built on top of the protocols. You now have the potential to compete with large organizations if you have a great idea. With Web 3.0 the application being built on top of a protocol will also give more value to the protocol. Value creation is not limited to the protocol or the application being built on top of it. Value creation can happen in a large variety of different ways. It is the decentralization of Finance.

  2. A token is an fungible or non fungible asset created on a blockchain. They can be used in a variety of different ways. There are ERC-20 Tokens, and ERC-721 tokens, and other types as well ERC-20 tokens are fungible tokens, while ERC-721 tokesn are non-fungible tokens. ERC-721 are usually used for game items or collectibles of different types.

3.You can create a ETH token using simple code inside of a smart contract, smart contracts are not required to have their own token, but you can easily make your own token to interact with the smart contracts. "Simple code can not make complex creations though, if you are wanted to make a token that actually has and maintains value, you need to add something that people find valuable.

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#1591

  1. What are the benefits of web 3.0 (decentralized internet)?
    A. It offers an engagement where small players can get users to participate and earn rewards in tokens to add value to the platform

  2. What is a token?
    A. It is a unit of value that represents a specific smart contract built on top of the Ethereum platform.

  3. How do you create a token on Ethereum?
    A. The smart contract built on top of the Ethereum platform creates a token and also has a code of instructions on how those tokens are ulitlized regarding rewards and the value of it.

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#1592
  1. Benefits of web 3.0 : captures value on protocol level, rewards early adopters, makes possible for new tech to challange the established companies.
  2. A token is a smart contract or dapp on top of ethereum.
  3. You create a token on ethereum when you program a smart contract according to the ERC20 standard.
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#1593

1- Everyone using the network gets incentivized for their contributions
2- A token is a digital asset, it can be fungible or not.
3- By writing a smart contract.

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#1594

1.The benefits of web 3.0 are, it can help other companies to compete with other giant companies, it is also more efficient in searching and web browsing and much more effective in communication and marketing.
2.token is a subset of crypto currency built in on top of a ethereum using erc20 protocol. It also represents particular fungible and tradable asset.
3.You can create token on ethereum using smart contracts and following the erc20 protocol

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#1595

1.The benefit of decentralized internet is that the protocols can now capture value. Small startups can compete with giants like Google by attracting users and generate an economy with tokens.
2.A token is a form of currency/digital asset; created by project developer to capture value of their projects.
3.You create a token on Ethereum by programming smart contracts. These tokens are used as a form of currency and also needed by users in order to use the Ethereum platform as is tied to the smart contracts.

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#1596
  1. What are the benefits of web 3.0 (decentralized internet)? capturing value at the protocol level, rooted on an incentive framework to push growth and not a monopoly.
  2. What is a token? A Token is a Smart contract or dapp that is build on the protocol layer that we call a coin
  3. How do you create a token on Ethereum? You can do so using Solidity or viper, you can use a standard like ERC20 and this list of instructions is the smart contract we call a token.
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#1597

  1. That small companies or start ups will be able to compete with giants like google, facebook, tweeter, etc., because they will be able to develop their own economies through their own cryptocurrencies. That is also possible because the value will be capture now by the protocol and not the applications. Because of the use of cryptocurrencies we now can be early adopters that should be fueled by the incentive that everyone wants to make money, which would increase the value of the network.

  2. A token is a small contract that can represent its own currency. Tokens can be fungible, meaning they are all exactly the same or nonfungible (nft), meaning that they are unique.

  3. In Ethereum we create tokens through the implementation of the ERC20 standard that ensures that all tokens comply to the same structure, functions and definitions that any exchange or wallet can support from day one.

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#1598
  1. What are the benefits of web 3.0 (decentralized internet)?

Itā€™s not just tech giants that capture all the value. Creators/investors of protocols like Ethereum, users (of Ethereum and Ethereum-based dapps), and more all get to share in the upside.

  1. What is a token?

A cryptocurrency built on top of a smart contract platform like Ethereum.

  1. How do you create a token on Ethereum?

You create a token on Ethereum by creating a smart contract based on the ERC20, ERC721, or ERC1155 standard.

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#1599

Web 3.0 enabled by the platform of Web 2.0, makes it possible to commoditize creations built using the blockchainā€¦dApps, smart contracts, central and decentralized websites.

Tokens, fungible and non-fungible are built on top of the blockchain and facilitate the creation of smart contracts and decentralized applications.

You create a token on Ethereum by using the standardized program language, Solidity.

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#1600

1.) It allows Decentralized Websites to operate and allows Dapps, centralized and decentralized websites, and smart contracts. it also allows everyone using the blockchain on web 3.0 to get incentivized for the contributions they make. everyone wants to make money. it also allows start-ups and small companies to compete with giants like Facebook and Google.

2.) A token is a dapp on top of the ethereum it is also a digital asset.

3.) By creating a smart contract using the standard ERC20.

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#1601
  1. so many things, but the main benefit is that the economic value of the protocols themselves can be captured by the creators of them, and not by the applications that run on them. You are also able to create your own decentralised economies where your tokens get used in your ā€œuniverseā€ and the value is passed on to the user.
  2. A token is a currency that is built on the Ethereum platform (either ERC20 like most 2017 era ā€œalt coinsā€, ERC 721 or ERC 1155 like Enjin). ERC20s are fungible and ERC721/1155 are non-fungible tokens (NFTs) and each one is unique.
  3. You basically write a smart contract for it.
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#1602
  1. There are many advantages of Decentralization : avoidance of Power and Money in a few hands/ Tech oligarchs like FB/ Google etc. This is only possible by creating Economic incentives like with cryptos, which benefit the earliest adopters the Most.
  2. A Token is a Smart contract (with Financial Transactions) with its own Economic incentives represented in the form of that Token.
  3. You can create a token in many of the ERC standards- Fungible tokens like ERC 20 tokens and NFTā€™s like ERC 1155
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#1603
  1. What are the benefits of web 3.0 (decentralized internet)?
    Being able to build decentralized applications and develop unique economic models.
  2. What is a token?
    A virtual currency used on the blockchain.
  3. How do you create a token on Ethereum?
    By creating a DAPP on the ethereum blockchain, the DAPP can use its own token.
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#1604

Homework: Web3.0 and Tokens

Web 3.0 enables ā€œtokenomicsā€ on top of web applications and services. This allows services to incentivize participants to utilize and contribute to their platforms. It shifts the benefit from applications like Google and Facebook to the protocol (token), from data monopolies to the individual.

A token is a digital asset defined by a smart contract.

You can create a token on Ethereum by making a smart contract describing the token, typically according to the ERC20 standard.

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#1605
  1. To be able to incentivize people for using a platform or service.
  2. A token is a smartcontract on a blockchain.
  3. Use the erc20 standard to create a token.
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#1606

The benefits of web 3.0 / decentralized internet are many, including further incentives for early adopters, the ability for small start-ups to compete with the giants, the value of ETH and other blockchain projects like ETH will likely increase in value along with any of the DAPPS that are popular on their blockchain, users will be able to add value to their portfolios by contributing to the network. Also there will be a variety of economic models that can compete for different sectors both public and private.

A token is a smart contract that is fungible or non-fungible that performs on the ETH blockchain

You create a token by way of smart contract, utilizing the ERC 20 standard

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#1607
  1. What are the benefits of web 3.0 (decentralized internet)?

There are no monopolies and central authorities. An example of benefits with Web 3.0 is that it is a decentralized internet where there is a opportunity for smaller companies to compete with large corporations like Google, Amazon and Facebook. Other keywords to describe this phenomenon is privacy, trust less ness, unstoppable, economic incentives, data ownership, fewer middlemen and it also enables participants to earn tokens.

  1. What is a token?

A token is a kind of coin that can represent different value, for example as phycical objects, reputation, money etc.

  1. How do you create a token on Ethereum?

The mechanism behind the creation of a token is a smart contract. Token standards which is usually used are ERC20, ERC233 and ERC721.

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#1608
  1. What are the benefits of web 3.0 (decentralized internet)? Transparency ā€“ you can follow your own data and inspect the code behind the platforms you choose to use. Fewer middlemen ā€“ no central authority will take profits from an electronic transaction. Privacy ā€“ secure and track your personal data online. Data ownership & sharing ā€“ data will be easier to share. Incentivize creators ā€“ anyone around the world can start businesses and find customers directly on web3.0
  2. What is a token? Any cryptocurrency that is built on top of an existing blockchain
  3. How do you create a token on Ethereum? A token can be created as a smart contract
#1609
  1. Web 3.0 being Decentralized offers a Level playing field to Retail people/ Small Businesses/ Individuals to compete against Institutions with large access to funds, by sharing their ideas in the form of tokens/ smart contracts and truly making the Internet more interoperable, decentralized, private, permissionless, censorshio resistant, borderless ,accessible, growth oriented and community based.
  2. A token is a Unit of Value created on the Internet using Internet Money protocols (like ETHEREUM ). The Token itself can be a Security Token ( representing ownership of the startupā€™s debt/ equity) and also can be a utility token ( access to use of the startupā€™s created product or service).
  3. a few ideas to create a token (on lets say the Ethereum Blockchain) is using standards like ERC 20( fungible and divisible) and/ or ERC 1155(Non Fungible tokens) and ERC 677 (like Chainlink oracle service tokens). Tokens are created using smart contracts on the Ethereum Blockchain. They are created by Startups offering Unique Services/ Economic Models of Crypto assets.
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