Homework on Web 3.0, and Tokens - Questions
It gives smaller companies a chance to rival the top tiered corporations by attracting users and rewarding them for engagement of the eco system. If you are an early adopter you will be rewarder more.
It is a Dapp that runs on a network. This can be a fungible or non-fungible token.
By writing a smart contract on Ethereum using the ERC20 Standard
The benefits of web 3.0, a dapp or protocol can use economic incentives via tokens to reward early adopters, those early adopts will have higher rewards as there is less competition on the dapp or protocol itself. more competition and users decrease rate of rewards and potentially increase price with more users (with inflation taken into consideration). Gives the opportunity for the customer or user to be reward for their support and use of the dapp or protocol.
A token is a non fungible or fungible asset on the internet.
You create a token on Ethereum using programming language solidity or viper. Following standard for fungible tokens ERC20 or non fugible tokens ERC721 & ERC1155.
1, The protocol receives value, early adopters of a particular protocol or Dapp will potentially be rewarded for support.
2 A token is a smart contract or Dapp that runs on the Ethereum blockchain. it can be fungible or non-fungible NFT.
3 By creating a smart contract that complies with one of the ERC standards on the Ethereum network.
A token is a unit of account for a token contract. The token contract is a smart contract that contains a map of account addresses and their balances.
Depending on what type of token is being created, write a smart contract in solidity using one of the token standards such as ERC20 in the case of a fungible token.
The value is captured at the protocol level unlike web 1 and 2. You can create dapps and separate economic ecosystems that is driven by economic incentives rather then posting your mealn in a picture and Google harvesting the value of your data. You can grab that value before them. This is only possible with web 3. Also you can create websites that can not be censored as easily. For instance with IPFS and unstoppable domains.
A token is a digitally scarce unit issued on a blockchiain. In Ethereum it is a smart contracts that keeps track for the total balance between all addresses holding the tokens issued in it.
You create a smart contract with a total supply of tokens, set a decimal number depending on the use case, set a name, a ticker and submit it to the Ethereum network.
1- On Web 3.0, value can be captured on a protocol level. The benefit of this is that all apps built on top of the protocol benefit from the value gained by the protocol. It also allows for more distribution of the value captured over the internet among different dapp projects and communities.
2- A token is a digital asset that is used to execute transactions on a blockchain.
3- A token is created on Ethereum by executing a smart contract on the Ethereum blockchain.
Value is stored in the protocols at base level, giving the advantage to all participants to earn more together instead of one entity.
A token is a form of exchange, tokens can be use to facilitate assets and utility under the Standards of ERC-20( in this case ) On ETH platform.
You can create your token through different languages, such Solidiy or EOS(examples) to create a smart contract on the ETH Platform.
1)Value is captured at the protocol level.
2)A token is a digital asset developed using a smart contract.
3)A token can be created by writing a smart contract.
Web3.0 and Tokens
Transparency: the characteristics of distributed ledger technologies and decentralization allow for openness. You can follow your own data and inspect the code behind the platforms you choose to use.
Decentralization makes it possible for providers to connect directly with consumers without any central authority or middleman.
privacy - because of blockchain and recent advancement in cryptography, you can secure and track personal data on the web3.0.
Ownership and Sharing - ownership of your own personal data, sharing it and possibility of selling it by yourself directly to advertizers and brands.
the absent of middlemen incentivises other parties to become producers as they can easily find their customers on the web3.0. digital currencies and distributed platforms are helping facilitate that.
it creates the environment for value to be transfer to blockchain protocol which allows DAPPS to create applications that reward the users.
3.Tokens are created on Ethereum as follows:
use Metamask - makes it possible to run Ethereum dapps directly in the browser without having to run it on full Ethereum node.
Remix-Ethereum IDE - an online-compiler which enable the creator to deploy the Smart Contract directly onto the Ethereum-Blockchain.
ERC20-Token Smart Contract which is ERC20 compliant.
Deployment - Smart Contract with its defined amount of tokens can then be deployed on the Ethereum Blockchain.
What is a token?
As asset built on top of ETH
How do you create a token on Ethereum?
Man, you didnât get all that from the video did you?
It allows for economic incentives to be given to the protocol and thus the whole ecosystem benefits for it. It creates value in the protocol compared to web 2.0 where the value is generated in itâs users. Value is more fairly distributed in the system in web 3.0 compared to 2.0 or 1.0
A token is a smart contract created from the ERC - 20 standard. THereâs also other standard which are used for NFTâs, (ERC 721, ERC 1155)
You create it using solidity and modifying the erc-20 standard. Then you deploy it on the ethereum network where it will be available and visible for everybody .
A token is a cryptocurrency or rather a digital asset built on top of a blockchain platform. Itâs not the native cryptocurrency of a blockchain platform (that would be a coin). The value of a token is defined by the token contract creator. For example, the token could be a digital representation of a physical object like gold, or it could give access to a service or special benefits.
A token is created by deploying a token contract on the blockchain. A token contract is a smart contract that maps account addresses and their token balances.