Homework: Web3.0 and Tokens

Ethereum 101
#1750
  1. What are the benefits of web 3.0 (decentralized internet)? increase in open networking rather than people just reading content they are now making content
  2. What is a token? contract on the exsisting ethereum network
  3. How do you create a token on Ethereum?use the erc 20 standard or another erc standard.
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#1751
  1. Allows protocol to capture more value.
  2. A token is fungible or non fungible digital asset created on top of Ethereum or other blockchain
  3. A token is created on ethereum by writing smart contract.
1 Like
#1752

  1. What are the benefits of web 3.0 (decentralized internet)?
    A decentralized internet allows peer to peer transactions and help small businesses grow. Would dethrone the current monopoly we have on the internet such as FB, google, alibaba

  2. What is a token?
    Token is a funglible or non fungilbe digital asset created on Ethereum or other blockchain networks.

  3. How do you create a token on Ethereum
    A token is created on ethereum.

#1753

  1. In Web2.0, the protocols underlying the network did not capture value, which all went to the applications built on top. In Web3.0, the network intrinsically functions to capture value, rewarding those who sustain it and providing a layer of peer to peer applications that provide opportunities for participants independent of central authoritative entities.

  2. Tokens are items built on top of the Ethereum network to serve as a storage of value or utility.

  3. Tokens are created by writing smart contracts in Solidity (or Vyper or perhaps others in the future) and deployed onto the network for decentralized access.

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#1754

  1. Web 3.0 enables small businesses to compete with giant corporations by building their own niche economic models to entice early adapters by rewarding financial incentives. e.g. Steemit. It also allows decentralised websites and dapps to be built. If any dapps increase greatly in value, it will also likely push the Ethereum price

  2. A native protocol/network will be considered a coin. E.g Bitcoin and Ethereum. Anything built on top of these networks will be a token. For Ethereum these consists of fungible (ERC20 standard) and non fungible tokens (NFTs with ERC 721&1155 standard). Most cryptocurrencies are tokens built on top of Ethereum and other networks

  3. You need to deploy a smart contract or a dapp according to the ERC standards applicable for you. You can use solidity to deploy a smart contract/dapp with the ERC 20 naming and parameter conventions to ensure interoperability. You can then compile the deployed contract so it can be executed by the EVM as byte codes

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#1755

1 benefits of web3.0.: With web 3.0 we are able to create a world without middlemen. All particpants can be incentivized and rewarded for their contributions to dapps. Value can be send freely over the internet without borders or limits.
2 a token is a fungible or non-fungible representation of the partial value of smart contract written on a certain blockchain
3 you can create tokens by using smartcontracts on the ethereum blockchain using erc-2o token standaard

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#1756

(1) Web 3.0 allows to occur value within the protocol rather than giving it to all the applications build on top of the protocol. Early adopters are rewarded with tokens, later they value of the token increases when more users use the platform.

(2) A token is a digital asset that is developed using smart contracts.

  1. You use a smart contract to create a token.
1 Like
#1757
  1. What are the benefits of web 3.0 (decentralized internet)?
  • it is decentralized - Transparency
  • privacy
  • fewer middlemen
  1. What is a token?
  • token is a representation of smart contract which runs for example on Ethereum
  • profesional expression:
    • Tokens are a representation of a particular asset or utility, that usually resides on top of another blockchain
  1. How do you create a token on Ethereum?
  • by following the standards like from ERC 20
    and functionality of the tokens is possible because of the smart contracts
1 Like
#1758
  1. What are the benefits of web 3.0 (decentralized internet)?

– Equality of value distribution
– Economic stimulation through growth of smaller companies

  1. What is a token?

– A digital piece of value. It can represent money, voting power, assets etc.

  1. How do you create a token on Ethereum?

– Through a smart contract that is executed by an EVM that runs on the Ethereum network.

1 Like
#1759
  1. Makes it easier for small companies to compete. Users are rewarded for using the platform. No middleman.
  2. Non fungible and fungible asset that represents value.
  3. A token can be created on the Ethereum network using a smart contract.
1 Like
#1760

How do you create a token on Ethereum

Yes, but how they are created?

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

Carlos Z.

#1761
  1. web 3.0 puts the value in the protocol level versus the apps built on top of the protocol. the market cap of one app most likely will not exceed the market cap of the protocol itself because the protocol can support many valuable Dapps. The Dapps also have to use the protocol coin to pay the gas fees to execute their smart contracts so as the value of the Dapp increases so does the value of the protocol itself. Web 3.0 gives the users more control over their data and gives value to users versus web 2.0 where a google or facebook profit from your data. Web 3.0 allows smaller players to compete against industry titans. users can choose to utilize DApps with the best incentives.
  2. a token is a digital asset built on a blockchain that can represent a number of things, a nonfungible asset, a fungible store of value, voting rights, etc. this representation is manifested through smart contract programming. (minting, burning, transferring)
  3. a token on ethereum must use an ethereum standard code. ERC20 for fungible tokens. ERC721 or ERC1155 for Nonfungible Tokens. this standard allows Dapp smart contracts to communicate with the blockchain, wallets, and exchanges seamlessly.
2 Likes
#1762
  1. Web 3.0 gives us the ability to earn tokens without using centralised authorities.
  2. A token is a cryptocurrency built on the Ethereum network; or another network.
  3. A token is created through a smart contract.
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#1763

Created through a smart contract

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#1764

With a specific standard e.g ERC 20

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#1765
  1. web 3.0 allows value to be captured by the protocols that are leading the innovation such as eth. This value can be spread to everyone.

2, a token is a fungible or non fungible asset built using the ERC20 or other standard of a coin, e.g tokens built on eth.

  1. you create a smart contract and a dapp
1 Like
#1766

What are the benefits of web 3.0 (decentralized internet)?
The benefits are the de-monopolisation of the internet as smaller companies will be able to compete with the tech giants of the world. The benefits of this are immeasurable with the issues taking place in the tech world such as censorship.
What is a token?
A token represents a unit of value of a particular asset that is fungible and tradable and is written in the form of a smart contract on top of another blockchain such as Ethereum.
How do you create a token on Ethereum? Writing a smart contract in solidity and deploying it through an Ethereum Node

1 Like
#1767
  1. What are the benefits of web 3.0 (decentralized internet)? Development of programmable assets and users are incentives by potential gains and help grow the community and company.
  2. What is a token? Tokens are smart contracts with a use case in there own economic model and there a two types fungible tokens or Non fungible tokens.
  3. How do you create a token on Ethereum? Create a smart contract using solidity on the ethereum network then convert it through a converter to byte code and use the ERC20 standards .
1 Like
#1768
  1. That protocol inventers can get their share, Semantic Web, Artificial Intelligence;
  2. A digital asset created on top of a smart contract platform such as Ethereum;
  3. Using a smart contract and implementing one of the standarts (e.g. ERC20)
1 Like
#1769

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

    It would create an opportunity form small companies to compete with large and established ones through incentivizing early adopters. It could reduce middlemen and allow peer-to-peer transactions as well as promote privacy, security and innovation. The underlying protocols will be able to generate money other than it is the case in Web 2.0.

  2. What is a token?

    It is a programmed value that is built on a smart contract platform, and with a use case in its own economic model.

  3. How do you create a token on Ethereum?

    By creating a smart contract on Ethereum in Solidity, and using a certain token standard e.g. ERC20.

1 Like