Homework: Web3.0 and Tokens

[Ag9]

1. What are the benefits of web 3.0 (decentralized internet)?
   It give participants higher opportunity to participate in a small project and scale faster for future benefits
2. What is a token?
   digitals asset developed using smart contract.
3. How do you create a token on Ethereum?
   created by smart contract using standards as ERC20 or ERC721(NFT’s)

[evasilev]

• What are the benefits of web 3.0 (decentralized internet)?
  With Web 3.0 the power of the internet (information and data) will go back into the hands of the user, not the corporate giants. Combining Blockchain technology and Artificial Intelligence, the new protocols will make interaction with the web secure and private.

• What is a token?
  A token is an application which is deployed on top of given blockchain. It represents some kind of a tradable good, an asset or utility or even cryptocurrency.

• How do you create a token on Ethereum?
  You create a token by deploying a smart contract on Ethereum blockchain. The contract should include public variables such as name, symbol, decimals and total supply.

[Mio]

What are the benefits of web 3.0 (decentralized internet)?
What is a token?
How do you create a token on Ethereum?

1. Instead of just having centralized websites, we entered an era where we create also decenralized websites and dapps being developed.

2. A Token is basically an/a application/smart contract built on top of Ethereum. It can be fungible or non-.fungible. Of course you can also create tokens on top of other smart contracts. Ethereum in October 2020 though - is still the number one “place to be”.

3. If you wanna create a token on top of ethereum for example. You need to write a code as a smart contract using solidty and implementing the standarts for the kind of token you wanna build or create. Fungible or non-funbile.

[StevenM]

1. What are the benefits of web 3.0 (decentralized internet)?
   Transparency, No middleman, privacy, ownership of data, incentives.

2. What is a token?
   Using a Smart Contract to create it, a token is a digital asset that is built on top of the Ethereum blockchain.

3. How do you create a token on Ethereum?
   Use the smart contract source code (https://www.ethereum.org/token). For a new token, change the name of the token in this code.

[Guilherme_Freitas]

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

Web 3.0 is changing the value distribution on the network. The protocols have the major value, instead of the applications built on top of those. This allows smaller companies to compete in a fair scenario with big established companies (such as Google and Facebook), capturing value in early stages by issuing incentives (through cryptocurrencies and tokens) to early adopters of recently deployed solutions.

2. What is a token?

A token is a digital asset that could represent anything (a currency, a real asset, whatever) that exists on the blockchain. Currently, the Ethereum blockchain holds most of the tokens issued so far.

3. How do you create a token on Ethereum?

A token can be created using a smart contract on the Ethereum blockchain. Depending on the asset it should represent, this token shall be fungible or not (NFT, in this case). Fungible tokens (currencies, for example) are commonly created under the ERC20 token standard, whereas NFT’s usually follow ERC721 or ERC1155.

[Glegy]

1. Personal data ownership, increased privacy and security, elimination of middlemen, decentralised ecosystem provides opportunity for smaller businesses to compete with larger corporations through tokenisation and smart contracts on Ethereum protocol.

2. A token is a unit of value represented by a smart contract on the Ethereum network.

3. By creating a piece of code in a smart contract using the ERC20 standard

[AmirShabin]

Homework on Web 3.0, and Tokens - Questions

1. What are the benefits of web 3.0 (decentralized internet)?
2. What is a token?
3. How do you create a token on Ethereum?

1.Is a combination of many decentralised website, which make it more transparent and eliminate the middle man.

also makes it possible to have applications and smart contracts on it,as well as possibility for users to capture the value .

The last point is that web 3.0 is capable of having economical incentives to encourage users to participate more.

2.Basically is a smart contract or set of instructions that representing the particular role of token and sit on top of the technical platforms like ethereum.

3.By programing the smart contract with the solidity language and following the token standard of Ethereum blockchain and deploy it on the Ethereum network.

[sandrau]

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

a. Transparency. The benefit of distributed ledger technologies and decentralization in Web 3.0 is that you can follow your own data and inspect the code behind the platforms you choose to use. You don’t have to trust a major corporation. There may be no corporation behind the platformb you are using. …

b.Fewer Middlemen. …

c. Privacy. …

d. Data Ownership and Sharing. …

e. Incentivize Creators.

2. What is a token?

Ethereum tokens are smart contracts that make use of Ethereum blockchain. Ethereum is a popular cryptocurrency and blockchain system that is based on the use of tokens which can be bought, sold or traded.

[cunning-plan]

Homework on Web 3.0, and Tokens - Questions

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

The protocols themselves can make money rather than the companies building upon them. Early adopters gain incentive to use web 3 services. Move away from centralisation of the internet.

2. What is a token?

A token is created on an already existing block chain as opposed to making their own blockchain and creating a coin.

3. How do you create a token on Ethereum?

You can edit a token template (smart contract) - title of smart contract, name of token and the total supply /decimals. You will need an eth wallet (metamask etc), to connect to the eth ropsten net - the contract will have to be put through a compiler like remix to deploy. With the use of test net eth you can verify and publish the contract - creating the tokens in the process.

[Jugging_Crypto]

1. What are the benefits of setting a token standard like ERC20?

It is beneficial to have a standardized version to ensure compatibility with various wallets. It also is beneficial because by setting the ERC20 standard it allows for other fungible tokens to be created on top of the Ethereum blockchain represented as their own currency but at their core, specific smart contracts aside, they are identical to each other.

2. What functions are in the ERC20 Token Standard Interface and what do they do?

These are the various programmable language words used to instruct smart contracts to do certain things. Wallets use these standard functions to interact with every ERC20 token. For example, totalSupply, balanceOf, and transfer. These are all the same across the board for each ERC20 token making them able to be used easily.

Homework 5: Web 3.0 and Tokens

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

Web 3.0 captures value at a protocol level. Instead of centralized applications on top of the code reaping all the rewards, the base code also gains in value from each profitable application built on top of it.

2. What is a token?

Tokens are the native currency of specific dapps or smart contracts. For example, dapps built on top of Ethereum that issue their own ERC20 currency are a token while Ethereum is a coin. Tokens try to create their own economy and ecosystem on top of the Ethereum ecosystem, this leads to tokens with valuable uses becoming adopted and gaining in value.

3. How do you create a token on Ethereum?

Using the ERC20 standard you create your own smart contract, thus creating a brand new token.

[thecil]

3. How do you create a token on Ethereum?

@cunning-plan

You can edit a token template (smart contract)

Indeed, better known as ERC Standards (20, 721, 1155…)

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

Carlos Z.

[BezoCryptos]

1. What are the benefits of web 3.0 (decentralized internet)?
There are many benefits and the potential for it and the best use cases for it is still in the future to be seen. Some of the benefits is that it gives smaller players a chance in the game and creates a trust less environment
2. What is a token?
It is a smart contract/code built on top of a blockchain network
3. How do you create a token on Ethereum?
By creating and deploying a smart contract. You are able to deploy fungible tokens and NFT

[Saula_Atama]

1. What are the benefits of web 3.0 (decentralized internet)?
   Its highly secure. anti monopoly and pro privacy, interoperable and permisionless blockchain

2. What is a token?
   Token are assets which are created on a specific blockchain. wich are fungible and non fungible,

3. How do you create a token on Ethereum?
   Created by smart contracts using the ERC20 standard.

[Khan_Among_Lions]

@filip

Homework on Web 3.0, and Tokens - Questions

1. What are the benefits of web 3.0 (decentralized internet)?
2. What is a token?
3. How do you create a token on Ethereum?

1. Web 3.0 allows us to move out of the monopoly that has been built by companies who took full advantage of web 2.0 (such as google, facebook, amazon, etc), and allows us to cut out the middleman.
   Web 3.0 is a decentralized internet that allows everyone to become a part of the incentive model by making it possible to reward people to use certain websites and applications. With web 3.0 the protocol itself is valuable , unlike web 2.0 where it was the applications built on top of the protocols that captured the value.
   Web 3.0 also allows users to better control their identity, privacy and data, and allows the monetization of your personal data, should you choose to monetize it.

2. A token is a cryptocurrency that is built on top of an existing smart-contract-based cryptocurrency coin/network (such as ETH, TRX, IOST). Tokens can be fungible or non-fungible, depending on the code and functions used to make the token. Tokens are essentially programmable money, coded via smart contracts.

3. To create a token on ethereum, you must decide if you want it to be a fungible token or non-fungible (NFT). You then use the existing function standards that exist in a programming language such as Solidity to write the token code smart contract, you then compile the code, and publish it on top of the ethereum network.

[Den]

@filip

Homework on Web 3.0, and Tokens - Questions

1. What are the benefits of web 3.0 (decentralized internet)?
2. What is a token?
3. How do you create a token on Ethereum?

1. The infrastructure builder is rewarded (like Ethereum, EOS, NEO, … and other blockchains enabling Smart Contracts).

2. A Token is a counter stored on the blockchain.
   This counter can be representing either the number of licences for a software, the number of kgs of a product within a warehouse, the number of USD associated it, …
   It is “dissociated” from a Coin since it is built as Smart Contract on the top of a blockchain such Ethereum

3. To create a Token on Ethereum, one can create a Smart Contract following ERC20 coding standard which will force the usage of the totalSupply function and post it onto the Ethereum blockchain.

[Cryptofuture]

1. The Web 3.0 would give an opportunity to small companies to compete with big companies so no monopoly would exist and early adaptors will be incentivised.

2. A token is a smart contract which is built in the blockchain. it can be either be a fungible or non-fungible token.

3. A token is created on the Ethereum by writing a smart contract on the ETH blockchain network which is followed by ERC20 standard.

[Voda]

1. What are the benefits of web 3.0 (decentralized internet)?
   Decentralization. Protocols are capturing value. Trustless.
2. What is a token?
   Cryptocurrency created on DAPP(SC) on certain(ethereum) BC network.
3. How do you create a token on Ethereum?
   By creating token via smart contract on Ethereum standard (ERC20 for ex.)

[Cryptoinsight]

1. A decentralized internet would give the opportunity for smaller companies to compete with large corporations like Facebook and Google. Early adopters are incentivized to use a new platform as they will be rewarded with a higher number of tokens than later in a platform’s life cycle when adoption has increased and the value of those tokens have as well.
2. Tokens are a representation of a particular asset or utility, that usually resides on top of another blockchain.
3. A token is created on ethereum using a smart contract

[LucianT]

1. One of the major benefits of the Web 3.0 is that small companies can now compete with large ones such as Facebook or Google. This is possible through incentives for early users.

2. A token is a digital asset built on top of a smart contract platform such as Ethereum or Eos.

3. A token is created on Ethereum using a smart contract.

[Mitchell_Giddens]

1. Centralization resistance, censorship resistance, fairer competition against the big competitors via economic incentives made possible by inflationary economic models
2. A token is a programmable digital asset built on top of the Ethereum blockchain that represents value, and can be fungible or non-fungible.
3. A token is created through a smart contract using one of the token standards, such as ERC-20, ERC-721, or others.