Homework: Web3.0 and Tokens

[hodltimo]

1. What are the benefits of web 3.0 (decentralized internet)?
   Content creators are incentivised to create content and to promote to promote the network/application (Dapp)

2. What is a token?
   A token is a bunch of smart contracts build in a network such as Ethereum providing services to the users (e.g. Steemit = new version of a social platform)

3. How do you create a token on Ethereum?
   Using the ERC standards you can give the token certain properties and functionalities.

[hlo]

1. What are the benefits of web 3.0 (decentralized internet)?
   the value is captured in protocol, not in applications built on it. in ethereum example there is no application built on top of it that is worth more than ethereum itself. websites on web 3.0 can have their own cryptocurrency, ecomonical model. earning on the content you post (as in steemit) will attract more users so the network value will go up. this way new companies will be able to compete with giants.
2. What is a token?
   digital asset, smart contract built on ethereum platform that has its own cryptocurrency.
3. How do you create a token on Ethereum?
   using solidity and ERC20 standard for fungible token or ERC1155, ERC721 for NFT

[jaykake]

1. Benefits of web 3.0 are:
   -no longer will it be monopolized by big tech.
   -you could get paid for your likes, content.
   -promotes privacy , security and innovation.
   -underlying protocol will be able to generate value unlike web 2.0

2. A token is a cryptocurrency/digital asset that is developed using smart contracts.

3. Tokens are created using a smart contract on Ethereum, using Solidity code using ERC20
   standards.

[Milos_Jakubicek]

1. We are not only using centralized apps but also decentralized, protocols are capturing most of the value compared to Web2.0, which mean Middle mans pie is getting smaller.
2. Token is a smart contract that contains the account addresses and their balances. Unit of balance is Token and can be fungible or non-fungible. Build on Ethereum, EOS etc.
3. Through ERC20 standard most likely, other standards are ERC721 and ERC 1155 which are mostly used in gaming.

[rwray]

@FaierPlay

1. What are the benefits of web 3.0 (decentralized internet)?
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. What is a token?
A token is a cryptocurrency/digital asset (fungible or non-fungible) that is developed using a smart contract (ethereum, EOS, Tron, etc.)

3. How do you create a token on Ethereum?
A token can be created on Ethereum using a smart contract

1. What are the benefits of web 3.0 (decentralized internet)?
Decentralized internet allows for individuals to capture value as opposed to larger companies that may leverage first to market leverage. It allows individual user to capture value (such as Brave/BAT)

2. What is a token?
A token is a cryptocurrency/digital asset (fungible or non-fungible) that is developed using a smart contract (ethereum, EOS, Tron, etc.)

3. How do you create a token on Ethereum?
A token can be created on Ethereum using a smart contract

[Nick_Roses]

1 engagement becomes interesting bcz of rewards, money is more distributed towards the programm
2 a smart contract on top of ethereum
3 by using erc20 programming language

[MHKTA]

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

Have the ability to be involved in claiming funds generated by activity rather then been taken by corporation.

2. What is a token?

A smart contract on blockchain database Unit

3. How do you create a token on Ethereum?

write smart contract in solidity

[Effengee]

@filip

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

Greater functionality and the creation of a trustless environment.

@filip

What is a token?

A token is a smart contract that runs on top of a host network.

@filip

How do you create a token on Ethereum?

By creating a smart contract per the required standards of the network on which it is built to operate.

[StanleyGM]

1. What are the benefits of web 3.0 (decentralized internet)?
   The benefits are that it won’t just be the big giants who have a monopoly over the user experience that gain all the money, users will be able to financially gain for their interaction. The early adopters to this technology will also have a larger benefit than those who join once it’s mainstream.

2. What is a token?
   A token is a digital asset that is created on Ethereum or other blockchain networks. It can be used to operate within that digital asset space, usually through smart contracts.

3. How do you create a token on Ethereum?
   A token is created by making a smart contract via Ethereum’s programming language solidity. This must follow the standardized rules of an ERC-20 token or a non-fungible tokens rules.

[MHKTA]

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

Have the ability to be involved in claiming funds generated by activity rather then been taken by corporations.

2. What is a token?

A blockchain database unit which can be fungible or none fungible.

3. How do you create a token on Ethereum?

Solidity Smart contract on a Ethereum block chain

[Ivan_Z]

1. What are the benefits of web 3.0 (decentralized internet)?
   Giving economic rewards to incentivize early adopters is how small companies might be able to compete with big players

2. What is a token? a digital asset (fungible and non-fungible) created on top of Ethereum as a smart contract

3. How do you create a token on Ethereum? create a smart contract using a “token standard” like ERC-20, ERC721, …

[Mark_Willems]

1. early adopters can earn by their contrubutions. Their value will increase by promoting (grow in adoption)
2. A digital Smart Contract on top of Ethereum representing a fungible or non fungible asset.
3. using code (Solidity on eth)

[1984]

1.Web 3.0 take fthe power and revenue out of the hand of internet oligarques. Everyone participating to a network get rewarded.
2. A token is the unit used in smart contracts to be transfered fron an user account to another one.
3.To create a token on ethereum you need to use a standard. For example ERC20 and define a name, a supply limit some settings like the number of parameter. To run it you need to provide gas meaning pay some ether for the bytes used

[CryptoZann]

1. What are the benefits of web 3.0 (decentralized internet)?
   Web 3.0 builds up upon the framework of web 2.0 by providing a very open digital economic model that can openly verify ownership of a digital asset without the need of a centralized institutions to authenticate.

2. What is a token?
   A token is an incentive model used to reward engagements with a service provider. What’s different from the usual “reward points” (i.e. by credit card companies or Reddit points) are that the token can be traded with real assets, but that value of the token in fiat terms is openly trackable by exchanges and many price-discovering dapps (a.k.a. “the oracles”), and can be recognized (though not legalized/regulated yet) as a valuable asset.

3. How do you create a token on Ethereum?
   A “smart contract” or a code base is written to issue or “mint” tokens (usually from a user’s interaction with the contract i.e. swapping with a cryptocurrency such as ETH, USDT, etc.), and its transactions are stored within the Ethereum blockchain ledger that can be openly traced and called back upon.

[Emanuila]

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

• Small companies have the chance to compete with the big guys, thanks to the network effect.
• Early adopters will be rewarded handsomely so that they’re incentivized to use the platform.

What is a token?

• A token is a fungible solution, built on top of Ethereum network, using smart contracts and Dapps to operate.

How do you create a token on Ethereum?

• It’s created on top of ETH network,using turing complete language. It operates with smart contracts, executing particular instructions, untill requirements are met.

[andyB]

1. Benefits of Web 3.0 include opportunities for smaller companies to compete with larger corporations, there are lower barriers for entry. There can be an economic incentive for users to be early adopters of applications. Users can contribute and be rewarded for their contributions. Protocols can capture the value instead of just applications.

2. A token is a smart contract built on top of Ethereum (or another blockchain platform)

3. A token can be created on Ethereum using a smart contract. It can follow the ERC20 standard for a non-fungible token, or ERC721 and ERC1155 for non-fungible tokens.

[aqua142]

1- decentralization of the internet, elimination of the middleman in transactions, and value being returned to the protocol developers.
2- token is a digital asset created on top of a blockchain in this case ethereum this follows the erc20 standard if fungible or the erc721/erc1155 if not fungible.
3- developing a smart contract on the ethereum blockchain then creating a token/crytpcurrency that works within the erc20 standard.

[Nanxo]

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

• Decentralized internet gives smaller companies a chance to rival with top tiered corporations like - Apple, Google and FB.

• Early purchasers will be incentivized due to easier ability purchase higher quantities of tokens and easier to make higher profit during early stage of a token (when value is low) rather than purchasing the token later on when the value of the the token has increased.

2. What is a token?

• Token: Is a digital asset which is created using a SC, it can also be under two different structures: fungible or non-fungible(NFT).

3. How do you create a token on Ethereum?

• Tokens are made on Ethereum by choosing the appropriate standardization and developing the SC.

[MarcusM]

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

On the decentralized internet, Web 3.0, it’s likely we’ll see far more competition and less dominance by a small oligarchy of internet giants like Google, Facebook, Amazon, or Twitter. The unique economic aspects that blockchain brings to Web 3.0 make it possible to reward users with financial incentives. That’s likely to have a big impact on early adopters and encourage explosive growth of smaller competitors.

2. What is a token?

A token is a digital asset, much like a cryptocurrency, that’s a store of value/information and unit of exchange.

3. How do you create a token on Ethereum?

Tokens are created with smart contracts on the Ethereum network.

[kurtis27]

1. The benefits of Web 3.0 is that smaller companies can attract new users by rewarding them for engagement therefore rewarding early adopter’s as there is less people so more reward.
2. a token is a Dapp that runs on the ethereal network whether it is fungible or non fungible.
3. You create a token on ethereum by creating a solidity smart contract that allows it to run off of the ethereum network.