Homework: Web3.0 and Tokens

3. How do you create a token on Ethereum?

ERC20 is not a network, is a Token standard to follow in order to correctly code a token. You can create an smart contract with an ERC Standard (20, 721, 1155) and you basically have created a token. Meaning a Token can be created through an smart contract and one of the ERC Standards mentioned above. :nerd_face:

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

Carlos Z.

1 - The most important is that it is decentralized, it does not depend on a company that controls everything to obtain benefits. People play a fundamental role in adding value to the network and for this they are rewarded. This also gives small players more participation.

2- In the cryptocurrency ecosystem, token is used as a synonym for currency. They are digital assets that are built on top of the Ethereum blockchain. Developers take advantage of the existing Ethereum infrastructure to build their applications through smart contracts.
The properties and functions of each token are completely subject to the use established for them.

3- As we said before, you use Solidity to generate a smart contract and thus be able to give it the properties that each developer wants according to their project.
There are certain standards that it is advisable to respect to have greater acceptance in the community as ERC 20

  1. In Web 3.0 applications, generated value does not anymore only benefit the team, or company, who built the application, but also the users and the protocol being used (blockchain). Also, Web 3.0 generally provides incentives to early adopters. Furthermore, applications are open, public, neutral and permissionless, with better data privacy.

  2. A token is a digital asset built on top of a blockchain via a smart contract.

  3. On Ethereum, tokens are created via smart contracts, by generally following the ERC20 standard.

  1. Now with the dynamic, programmable web and blockchain technology all the creativity and power of web 3.0 is upon us. Benefits? New, never before applications of network effect + MONEY??

  2. Using many standards but in particular the ERC-20 standard on Ethereum. A token is a smart contract that adopts certain rules and behaviors and allows participation in a protocol that involves trading for the token, perhaps staking the token and being rewarded. Perhaps you have certain privileges and reap passive income? Perhaps owning this token you lock it up, as if in a Certificate of Deposit, and you receive interest at the end of a period? Perhaps just owning the token entitles you to governance privileges?

  3. To create a token on Ethereum you create a smart contract in Solidity. Be sure to issue a Trillion tokens to the contract owner, that’s you. And have a nice day.

  1. Web 3.0 is the future of the internet, where applications become smarter, more private, and more decentralized. As the new infrastructure and platforms come online, the experience of using the internet will change dramatically. Today’s internet is an amazing resource, and it enables us to do powerful things. However, it also requires us to give enormous amounts of data to middlemen companies who aren’t transparent about their practices. Web 3.0 seeks to change that and create a more open and transparent internet.
  2. Tokens are a smart contract on top to another blockchain its fungible or non fungible programmable digital assets that represent the value of blockchain
    3 we create a token as a smart contract
  1. No Corporation controlling the network, it is decentralized the value is own by everyone who participates in the network therefore they are incentivized to promote it.

  2. A token is a representation of a particular asset or utility, they’re fungible and tradable.

  3. To create a token on ethereum we use the ERC-20 standard, it is essentially a smart contract running on top of ethereum.

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

The benefits of web 3.0 is that web applications can build their own cryptocurrency with their economical model.

  1. What is a token?

A token is a representation of an application built out of smart contracts that is built on a blockchain network such as Ethereum.

  1. How do you create a token on Ethereum?

By building an application with a smart contract by using the ERC20 standard and Ethereum on the Ethereum network.

  1. What are the benefits of web 3.0 (decentralized internet)?
  • users will be the ones who will benefit from web 3.0, not big corporations which have now monopoly
  1. What is a token?
  • tokens are digital assets which have some utility in the ecosystem
  1. How do you create a token on Ethereum?
  • you can do it by creating smart contracts
  1. What are the benefits of web 3.0 (decentralized internet)?

With Web 3.0, we can have websites which their own Crypto Currency, their own Economics build on top of Coins like Ethereum. This gives the opportunity for new players to enter the market and challenge for market share against bigger well establish corporations. This is possible using incentive model (Rewarding the user with crypto currency for their contribution to the network).

  1. What is a token?

A token is a digital asset which could be in 2 forms based on the standard used for programing, Fungible Token (ERC-20) or Non Fungible Token (ERC-721).

  1. How do you create a token on Ethereum?

A token can be created on top of Ethereum by programming smart contracts following standards such as ERC-20, ERC-721 etc).

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

The benefits are:

-competition of small players against major platforms should be easier, because users can be attracted by incentives with tokens for interacting and using platforms

-(trustless open source) protocols are possible to capturing values

  1. What is a token?

A token is a digital asset that created on an application within a smart contract platform like Ethereum or Eos.

  1. How do you create a token on Ethereum?

A token can be created by following the token standards provided by Ethereum.

  1. This enables the technology to capture value, incentivizes the early adopters.
  2. Tokens are cryptocurrencies of smart contracts that run within a blockchain.
  3. Tokens can be created by deploying smart contracts on the blockchain.
  1. The benefits of web 3.0 and a decentralized internet is that this space would allow different applications and companies to compete on equal terms; the number of users would directly effect the economic value of interacting with an application’s network, which would create a more democratic and transparent economic system; giant corporations wouldn’t be able to take all the value for themselves.
  2. A token is it’s own economic value that is created from a particular smart contract. Usually a DAAP or decentralized application would allow smart contracts to connect with a particular website where users would be able to interact with a network and then simultaneously creating more token value in that network.
  3. To create a token on Ethereum, a DAAP, or Ethereum code, would connect a Ethereum smart contract to a separate network then creating a new token on top of Ethereum, and to do this would require the new DAAP network to acquire Ether tokens and translate it into its own network economy based on the smart contract that is created on Ethereum. Completing this process would allow the DAAP to use the smart contract to generate a new token.
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  1. Web 3.0 makes entities more resilient by not having one point of failure (centralized). Also, early adopters are rewarded potentially as the network grows.
  2. A token is a smart contract that runs on Ethereum.
  3. Create a smart contract on top of the Ethereum platform.
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  1. What are the benefits of web 3.0 (decentralized internet)? control is not centrilized to one enity
  2. What is a token? a digital asset.
  3. How do you create a token on Ethereum? with a smart contract
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  1. This removes the need to trust the websites that we use with our information. More opportunity to make money. Incentives to be early adopters of a particular dapp which also allows small companies to compete with big giants. It creates an internet that is ran peer to peer rather than through a central authority

  2. A token is a cryptocurrency that is built on an overarching blockchain

  3. You can simply use a standard that is used with Ethereum

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Homework on Web 3.0, and Tokens - Qs

  1. What are the benefits of web 3.0 (decentralized internet)?
    The value is on the protocol so applications (such as facebook/google) cannot capture the entire value in a centralized manner.

  2. What is a token?
    A digital asset which is created by launching an application on s smart contract platform

  3. How do you create a token on Ethereum?
    A token can be created by following the ETH protocol standards for example ERC20 for Fungible tokens or ERC721 for NTFs or Unique tokens

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  1. What are the benefits of web 3.0 (decentralized internet)?
    The main benefit of web 3.0 is capturing value on top of a protocol, which incentivizes to reward early adopters of new technology.

  2. What is a token?
    Token is a smart contract build on top of native protocols such as Ethereum. A new token tries to build its own economy, inflationary system, network.

  3. How do you create a token on Ethereum?
    Tokens on Ethereum can be created using ERC-20 standard.

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Homework on Web 3.0, and Tokens - Questions

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

With Web 3.0 you can have the chance to store value in the base protocol. One of the benefits is that gives the opportunity for smaller companies to compete with large corporations like Facebook and Google.

2. What is a token?

A token is a digital asset (fungible or non-fungible) that is developed using a smart contract on top of ethereum like platforms.

3. How do you create a token on Ethereum?

A token can be created on Ethereum using a smart contract

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  1. The benefits of web 3.0 (decentralized internet) are that the users can now have economic rewards for using different platforms instead of companies getting it all.

  2. A token is a smart contract that is built on a blockchain Gen 2,3 or newer.

  3. You create a token on Ethereum by coding a smart contract on top of the Ethereum blockchain using ERC20 or another standard for easy interoperability.

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1-> web 3.0 is giving more value propotition to the user in a more or complete decentralized environment, dapps wil be playing a huge roll in this part :slight_smile: such as now google or Facebook in a complete centralized way getting all the value dapps should replace this and giving that same value on to there users in a very dynamical economic way

2-> tokens are cryptocurrencys from a smart contract, the technical platform such as Ethereum and the used cryptocurrency called Ether is a coin, the smartcontracts at top of that have in most cases there own cryptocurrencys and they are Tokens

3-> to program a smartcontract and give that a same smartcontract a supply of Tokens

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