Homework: Web3.0 and Tokens

Ethereum 101
#1890

  1. The benefits of using Web 3.0 of a decentralized network removes. the middle man, or having a single point of failure through a centralized system. There are still standards that are implemented on the platform, like the ERC20 standard on Ethereum (or ERC 721, 1155). It also incentivizes early adopters, like the high payment of bitcoin early on. Investing in Web 3.0 (ethereal) allows you to capture the value of all dApps built on the ethereal platform, should one take off from profits/adoption. Steemit is an example of what the future holds.

  2. A token is a programmable (built from a smart contract within a dApp) digital asset and has abstraction for anything, giving value to ideas or concepts. These are developed in smart contracts built on the Ethereum blockchain. Fungible/non fungible

  3. To create a token on the Ethereum platform, you use the ERC20 standard and create a smart contract.

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#1891

  1. The benefits are that it allows an open economy that rewards early adopters. It allows smaller players to attract new users and compete with huge corporations.

  2. a token is a smart contract that is built on top of the ethereum network.

  3. Tokens are created by writing smart contracts in the standard of ERC20, ERC721, and ERC1155

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#1892

  1. Web 3.0 is beneficial because it allows for the protocals to capture and share most of the value. This can be compared to Web 2.0 in which the largest company’s captured most of the value and the protocals no value.

  2. A token is a digital asset that creates/holds value that is programmed using a smart contract on the Etherium blockchain.

  3. You create a token through programming a smart contract.

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#1893
  1. The benefits of Web 3.0 are that power/influence and financial gain can be removed from the big tech companies and it is able to be distributed to the users who are providing the value.
  2. A token as a unit of a smart contract or Dapp that is built on a larger platform like Ethereum.
  3. You use the programming language of solidity to build a token via a smart contract on Ethereum, these tokens need to have certain core features written in such totalsupply, balanceOf and transfer.
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#1894 
1. What are the benefits of web 3.0 (decentralized internet)? 

Steemit and social networks is a scavenger system that modeled all like views and influencer 	models that currently dominate the market. However, they profit less the more users there are 	because competitiveness increases. In contrast, blockchain technlogies have the potential to 	capture value on different set of rules. So early adopters and more importantly clever ideas for 	projects are highly needed.

2. What is a token? 

Item that quantifies value. 

3. How do you create a token on Ethereum? 

Build dapps on top of the Ethereum protocol that operate with any desired token.
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#1895
  1. Builds new economic model where it brings value to the protocol
  2. A DAP currency that is built on top of the ETH protocol
  3. With SC using the ERC20
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#1896
  1. What are the benefits of web 3.0 (decentralized internet)?

Community-run economies can be built, ones that incentivize early adoption, and create and distribute value in a provably fair and transparent way.

Decentralized organizations can also be run, allowing the community to take ownership of key decisions like protocol upgrades and changes, utilizing a governance token to facilitate elections and voting.

  1. What is a token?

A cryptocurrency like any other, with its own supply and properties, deployed on top of the Ethereum blockchain using one of it’s ERC token standards.

  1. How do you create a token on Ethereum?

By defining your tokens properties within a smart contract and deploying it to the Ethereum mainnet.

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#1897
  • What are the benefits of web 3.0 (decentralized internet)?
    –decentralized internet helps small businesses compete with other tech giants. Early adopters in this decentralized internet are rewarded with a higher number of coins early in its development because of the inflation structure that is built within the network, as the token grows, the networks value goes up even though the token eventually gets inflated.
  • What is a token?
    –a token is a fungible or non-fungible digital asset that is developed using a smart contract on a bigger cryptocurrency structure.
  • How do you create a token on Ethereum
    –Tokens are creating by developing a smart contract on Ethereum (for example). The tokens are developed based on standards such as ERC20, ERC721 etc which allows all other wallets to accept it as it is executed in the network.
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#1898

  1. That small start-ups can compete with big tech giants. They gain more early adoption with the network effect by incentivizing users to invest and use their platform since there is value in cryptocurrency and gains to make.

  2. A token is a value representation in a project/network, it’s a programmable asset.

  3. By creating a smart contract on top of the Ethereum network, preferably using ERC-20 standard.

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#1899

  1. What are the benefits of web 3.0 (decentralized internet)?
    Incentivizes early adopters(decreases monopolization). Protocols capture value.

  2. What is a token?
    Token is a digital asset created on top of smart contract platform like ethereum.

  3. How do you create a token on Ethereum?
    You deploy a smart contract according to token standard. ERC20 for example.

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#1900

1)Web 3.0 or the Decentralized Web will lead to better privacy, data security and more human-like interaction. It creates an enviroment where anyone can bring forth their idea with limitless programming and allows small people to be able to create networks offering incentives to grow it.

  1. A token represents ownership in an underlying real-world asset or act as a currency itself.

  2. You can make a token on the ethereum network buy building smart contracts/dApps built with the ethereum coding languge solidity.

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#1901

  1. The benefits of web 3.0 are as follows: economic incentive tools for startupsand small companies, decentralized websites and apps, more value to the users, protocol captures the most value instead of a few companies.

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

  3. You can create a token on ethereum by coding it as a smart contract and using the standardized rules like ERC20.

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#1902

[quote=“filip, post:1, topic:8447”]

  • What are the benefits of web 3.0 (decentralized internet)?
    Participation. Capturing value. Allowing small businesses to compete with big business. It allows the users to capture value at the base level as opposed to the applications capturing all value from users.
  • What is a token?
    A cryptocurrency created using a smart contract with definitions of variables or conditions to be met in order to be executed, requiring consensus on the bockchain.
  • How do you create a token on Ethereum?
    Tokens are created on top of ethereum using smart contracts with conditions and definitions to be met.
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#1903

  1. Web 3.0 allows us to give value to the underlying protocol, so we can reward participants and take away the ability for central entities to extract all of the value of a specific application.

  2. A token is the currency of a smart contract built on top of a mainet like ETH.

  3. You would create a smart contract with something like solidity, and you would follow an ERC standard based on the kind of token you’re making.

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#1904

  1. What are the benefits of web 3.0 (decentralized internet)?
    Early adopters have an incentive to capture value and hold while the company grows.

  2. What is a token?
    A token is a fungible or non-fungible token that is created via a smart contract.

  3. How do you create a token on Ethereum?
    Great a token by programming a smart contract and hard coding the specific things you want that smart contract to enact.

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#1905

  1. The benefits of Web 3.0 include protocols being rewarded rather than the applications on top of the protocol, users being rewarded instead of providers, and early adopters have the potential to earn more by engaging early and often.

  2. A token is either a fungible or non fungible asset that is built on top of a blockchain such as Ethereum.

  3. Smart contracts / Dapps create tokens by utilizing the ERC20 token standards.

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#1906

  • What are the benefits of web 3.0 (decentralized internet)?
    A) Own eco system, own tokens. Financial incentives for early adaptors. allows the ability to compete with the large companies.

  • What is a token?
    A) Represents the currency of an ecosystem. It is a digital asset on the blockchain.

  • How do you create a token on Ethereum?
    A) By creating a smart contract using ERC20 standard code.

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#1907
  1. On web 3.0 the value will be transferred from monopolies to the participants. Blockchain tech leads to decentralization as content can become immutable.
  2. A token is the currency used for a DAPP or Smart contract built upon the Ethereum network.
  3. Tokens are created through smart contracts on the Ethereum network.
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#1908

Homework on Web 3.0, and Tokens - Questions

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

It captures value on protocol level, financial incentives for early adopters in new projects since adopters are rewarded through engagement.

  1. What is a token?

A currency/dapp built on top of a coin/blockchain.

  1. How do you create a token on Ethereum?

In solidity following the ECR20 standard.

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#1909
  1. What are the benefits of web 3.0 (decentralized internet)?
  • There are many benefits. One is that the decentralized nature of Web 3.0 allows it to be hard if not impossible to control and censor. Another important one is that it is able to capture the economic value of the network and help spread the value to all the users instead of
  1. What is a token?
  • A token is a digital asset that is built on a smart contract on the blockchain network
  1. How do you create a token on Ethereum?
  • You can create a token on Ethereum by deploying a smart contract on top of the network.
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