Homework: Web3.0 and Tokens

Ethereum 101
#1970

  • What are the benefits of web 3.0 (decentralized internet)?
    Web 3.0 allows trustless transactions to occur Peer 2 Peer without the need for a central organisation/authority.

  • What is a token?
    A Smart Contract built on top of the Ethereum network.

  • How do you create a token on Ethereum?
    By building a Smart Contract written in Solidity using the ERC20 Standard.

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#1971
  1. What are the benefits of web 3.0 (decentralized internet)?
    Web 3.0 allows small start ups to compete against the giants ones like google and facebook. More over, it has the capacity to distribute goods to everyone since the system of currency will also be decentralized.
  2. What is a token?
    A token is a type of cryptocurrency derived from ethereum.
  3. How do you create a token on Ethereum?
    You can create a token by using Solidity.
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#1972
    1. What are the benefits of web 3.0 (decentralized internet)?
  • Users will have the ability to make money by sharing content. Dapps will have the ability to compete with other bigger centralized companies doing the same thing. It will give people more choices on what platforms to use and the ability to earn crypto currency.
    1. What is a token?
  • A token is a crypto currency created for said platform and used in the economics of that platform to pay out users and sometimes the entities in governance on said platform. Either way the token would be the incentive on said platform/protocol.
      1. How do you create a token on Ethereum?
  • By writing a smart contract in solidity wherein the token has some sort of use case.
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#1973

  1. A decentralized internet, value is captured at the protocol level. This gives opportunity to smaller companies to compete with large corporations by incentivizing early adoption.

  2. A token is a fungible or non-fungible digital asset that built using a smart contract.

  3. When smart contracts are programmed on top of Ethereum, the smart contract can represent it’s own cryptocurrency by using token standard such as ERC20.

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#1974

No! The video is just a guide, you have to do more research to capture the whole picture. You will learn more by doing that.

2 Likes
#1975
  1. It would allow for smaller startups to compete with larger companies that currently have a monopoly over data. It would also provide incentives for people to interact on their DAPPs through tokenization. Users would be paid for their contribution to the network.
  2. A token is a unit of value built into the economy of the smart contract. It allows for value to be accrued and transacted.
  3. You can create a token on ethereum by developing a smart contract on top of the ethereum blockchain. The smart contract would then theoretically follow the ERC20 standardization and be interoperable in the ethereum ecosystem.
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#1976

  1. Web 3.0 incentivizes people to become early adopters, which will create a faster increase in value, and help give smaller but innovative companies to compete with established companies

  2. A token is a smart contract ethereum based cryptocurrency

  3. Tokens that are fungible will use ERC20 and ethereum smart contracts

1 Like
#1978

  1. What are the benefits of web 3.0 (decentralized internet)?
    That it allows the investor that invest in ethereum to make money off the the off the dapper built on its protocol , plus there is no central database there is only the blockchain making data more secure.

  2. What is a token?
    It is a coin built from a dapp built upon the ethereum blockchain.

  3. How do you create a token on Ethereum?
    By using the ERC20 token standard.

1 Like
#1979

[quote=“filip, post:1, topic:8447, full:true”]
Homework on Web 3.0, and Tokens - Questions

  1. What are the benefits of web 3.0 (decentralized internet)?
    Small companies are getting the chance to compete with the big tech companies
    Introducing the new token reward system to new adopters have the possibilities to earn crypto.
  2. What is a token?
    All crypto build on Eth is a token
  3. How do you create a token on Ethereum?
    the coding language is Solidity, the standard protocol is ERC20 or other
    Creating smart contracts on top of the ERH network
1 Like
#1980

Homework on Web 3.0, and Tokens - Questions:

  1. What are the benefits of web 3.0 (decentralized internet)?
    Application creators can now capture financial value from economic activity and do it without need for central authority/dominating market leader corporation. Each app (Dapp) can now be a profit center.

  2. What is a token?
    Token = a fungible or non-fungible unit that represents smart contract used on the Network.

  3. How do you create a token on Ethereum?
    By writing a Smart Contract using Solidity programming language and adhering to ERC20, ERC721 or ERC1155 standard and deploying SC on the network.

G.

1 Like
#1981

Great answers. It’s easy to understand. Great work. :clap:

Carlos Z.

#1982
  1. It fosters innovation and therefore prevents monopolies on internet services.
  2. A Token is a native unit of currency for whatever DAPP is running on ethereum network
  3. You creating a token by using the solidity language to creat a smart contract and then basing the token for that contract of the ERC-20 standard
1 Like
#1983

1)Unlike web2.0 , the protocols on which apps(dapps) are built on lock and capture value as well , because each time someone builds or uses or executes a smart contract, he will need ethereum to pay the network (EVMs) to run it. when you invest in ethereum you are indirectly investing in every project built on top of it.
Also ,the users of the dapps get rewarded for interacting with them , thus every body will be incetivized to promot the network to earn more , in contrast to greedy usual apps which keep every single penny to themselves.

2)Token :
a standard type of cryptocurrency built on top of a platform such as ethereum , eos , neo… that represents an asset or a specific use; which uses the EVMs of the network to execute its smart contracts , and get charged fees instead of building a whole new blockchain to use.

3)Tokens on top of ethereum are created by using smart contracts, we usually use the ERC20 prototype standard token (ERC721/ERC1155) , which has an easy standard functions interface.

1 Like
#1984
  1. What are the benefits of web 3.0 (decentralized internet)?
  • Incentivises early adopters, individual small players are able to put equity into the infrastructure.
  1. What is a token?
  • It is a currency created for a dapps economy.
  1. How do you create a token on Ethereum?
  • Creating a smart contract with solidity and adhering to the ERC standards.
1 Like
#1985
  1. What are the benefits of web 3.0 (decentralized internet)?
    TRANSPARENCY AND VALUE
  2. What is a token?
    PROGRAMABLE DIGITAL ASSET
  3. How do you create a token on Ethereum?
    DOING A SC
1 Like
#1986
  • What are the benefits of web 3.0 (decentralized internet)?

Contributor(s): Alexander Gillis**

Web 3.0 is the third generation of internet services for websites and applications that will focus on using a machine-based understanding of data to provide a data-driven and semantic web. The ultimate goal of Web 3.0 is to create more intelligent, connected and open websites.

Web 3.0 has not yet been implemented, so there is no solid definition. It took over ten years to transition from the original web, Web 1.0, to Web 2.0, and it is expected to take just as long, if not longer, to fully implement and reshape the web with Web 3.0. However, the technologies that some people believe are going to make up and ultimately define Web 3.0 are currently being developed. Smart home appliances using wireless networks and the Internet of Things (IoT) are two examples of how Web 3.0 is already impacting technology.

If the trend of change is traced from Web 1.0, a static information provider where people read websites but rarely interacted with them, to Web 2.0, an interactive and social web enabling collaboration between users, then it can be assumed that Web 3.0 will change both how websites are made and how people interact with them.

Web 3.0 properties

Web 3.0 may be constructed with artificial intelligence (AI), semantic web and ubiquitous properties in mind. The idea behind using AI comes from the goal of providing faster, more relevant data to end-users. A website using AI should be able to filter through and provide the data it thinks a specific user will find appropriate. Social bookmarking as a search engine can provide better results than Google since the results are websites that have been voted on by users. However, these results can also be manipulated by humans. AI could be used to separate the legitimate results from the falsified, therefore producing results similar to social bookmarking and social media, but without bad feedback.

An artificially intelligent web will also introduce virtual assistants, an element that is already emerging today as an aspect built into a device or through third party apps.

The idea behind the semantic web is to categorize and store information in a way that helps teach a system what specific data means. In other words, a website should be able to understand words put in search queries the same way a human would, enabling it to generate and share better content. This system will also use AI; semantic web will teach a computer what the data means and then AI will take the information and use it.

Ubiquitous computing refers to embedded processing in everyday objects, which enables the intercommunication of devices in a user’s environment. This is thought to be another property that Web 3.0 will have. The concept is similar to the Internet of Things.

The technologies which will make up these properties include microformats, data mining, natural language search and machine learning. Web 3.0 will also be more focused on peer-to-peer (P2P) technologies such as blockchain. Other technologies such as open APIs, data formats and open sourced software may also be used while developing Web 3.0 applications.

  1. What is a token?

Crypto tokens represent a particular fungible and tradable asset or a utility created over an initial coin offering (ICO) that is often found on a [blockchain]. Crypto tokens, which are also called crypto assets, are special kinds of virtual currency tokens that reside on their own blockchains and represent an asset or utility. Most often, they are used to fundraise for crowd sales, but they can also be used as a substitute for other things. crypto tokens operate on top of a blockchain that acts as a medium for the creation and execution of decentralized apps and smart contracts, and the tokens are used to facilitate the transactions.(https://www.investopedia.com/terms/b/blockchain.asp).

  1. How do you create a token on Ethereum?
    A token can be created as a smart contract in Ethereum . The complete source code of the contract can be found in https://www. ethereum .org/ token location. To create a new token we just need to change the name of the token in this code. The token name Kahawanu should be changed to your own contract name. (medium.com)

Additionally, you can go onto github and start the process there.

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#1987
  1. Websites that can be connected to a blockchain with its own economic ecosystem that any individual can take advantage of.
  2. Newly created currency atop a blockchain platform through Dapp launch.
  3. Basically you launch a Dapp with a smart contract through, for instance, ERC20 standard
    code
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#1988
  1. No central server that can be targeted by governments and/or hackers.
  2. It is a fungible or non fungible transferable coin that can follow programmable rules.
  3. The easiest way is to implement a standard like ERC20 and overwrite the given functions to follow your own rules.
1 Like
#1989

1. What are the benefits of web 3.0 (decentralized internet)?
Small businesses can grow and compete with current monopolized corporations. Money as an incentive for content creators without middleman fees. More opportunities
2. What is a token?
It is a digital asset built on the Ethereum blockchain or any other blockchains. It can be a fungible or non fungible token
3. How do you create a token on Ethereum?
It is created by smart contracts using token standards, ERC20 which is fungible and ERC721,ERC1155 which is non fungible tokens

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#1990
  1. The benefits of web 3.0 are that by having small entities being able to have their own currency linked to their website they can incentivizes early adopters, and that gives everyone a chance to get their skin in the game. Also, there will be more transparency and no middleman.
  2. A token is a fungible or non fungible coin built on ethereum.
  3. A token is created by coding a smart contract.
1 Like