Homework: Web3.0 and Tokens

  1. There will not be 1 entity/monopoly, who will have all the control /data

  2. Token is a digital asset/ cryptocurrency that is developed using a smart contract

3)You can create a token in top of a Ethereum blockchain by writting smart contracts

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  1. Creaters of content, as well as users will have more freedom to benefit from the fruits of their labour, while big tech will not be able to blatantly parasite from the most valuable commodity; user private data.

  2. A token is a representation ( a derivative ) of value inside a smart contract program that operates on top of a platform such as Ethereum, Komodo etc. It can represent anything of value like; attention, real estate, time, labour, assets, etc.

  3. A token on Ethereum is a smart contract that conforms to the ERC20 standard ( in order to increase the uniform use with wallets and exchanges ) that runs on top of the Ethereum EVM. In order to run this smart contract, you must pay GAS fees to the network. Anyone can launch their own tokens on the Ethereum blockchain using the ERC20 standard.

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  1. What are the benefits of web 3.0 (decentralized internet)?
    Allows smaller companies to compete with large corporates
    Incentivises early adopters by rewarding providers for their content and subscribers for their participation in the economy.
    Allows value to be created at the protocol layer

  2. What is a token?
    A token is a digital asset that is built on top of the Ethereum network by implementing Ethereum’s standardised approach to smart contract creation.

  3. How do you create a token on Ethereum?
    A token is created on Ethereum by implementing simple code in the form of a smart contract using Ethereum’s standard code functions.

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  1. There are no monopolies and central authorities

  2. A fungible or non fungible asset created on the ethereum blockchain

  3. With smart contracts

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1. What are the benefits of web 3.0 (decentralized internet)?
Introduction of Decentralized Apps (Dapps) which allow integration of a token economy to provide incentives and rewards for participating in the network- particularly for early adopters.

2. What is a token?
A separate digital currency created on top of it’s base currency such as ERC20 tokens.

3. How do you create a token on Ethereum?
By implementing the ERC20 interface and sending the code and enough gas to the smart contract that creates new tokens.

(FYI #3 was hinted at in the ERC20 video, but wasn’t discussed explicitly. Having to do a bit research is good, but if these questions are meant to be fully answered by watching the videos in the course then they need updating)

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  1. Creation and transference of money peer-to-peer without middle man based on protocols without the need of centralized applications. User empowerment!
  2. A token is a currency built based on already existent application. The stable coin Dai which is based on Ethereum protocol Erc-20 is one example.
  3. Using the standard protocol Erc-20.
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  1. protocol level capture the value. Decentralizing the internet to avoid monopolization of big techs.
  2. a representation of digital asset.
  3. following ERC20 standard, develop a smart contract.
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  1. Web 3.0 brings value & economy to the protocol level. It makes applications on the web decentralized and incentivized. Contributors can earn tokens and early adopters are rewarded. This ultimately creates a competitive model to the established platforms. In short, it is the combination of a web experience coupled with a smart contract, commonly referred to as a dApp.

  2. A token (according to Ivan’s definition) is a coin created on top of a smart contract blockchain such as Ethereum. There are fungible tokens and non-fungible tokens.

  3. You can create a token on Ethereum any way you want by creating a smart contract. It is, however, preferable to use an established standard such as ERC-20, because once implemented, any new ERC-20 token can be used by wallets and exchanges.

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What are the benefits of web 3.0 (decentralized internet)?
Web 3.0 allows for a much more expanded internet experience. Using the Blockchain developers have created smart contracts and Daps promoting truth and transparency through business and personal transactions. Daps offer the creators opportunity for financial rewards.

What is a token?
A token is a coin used by a smart contract or Dap, it is programmable money that can be fungible or non-fungible.

How do you create a token on Ethereum?
By creating a smart contract on the Ethereum network using ERC20 for fungible tokens and ERC233 and ERC721 for non-fungible tokens.

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  1. web 3.0 is the opportunity to create value over the internet using decentralized apps. has the potential to create new ways to make money for everyone rather than the few companies that monopolize the internet now.

  2. a token is something launched on top of a platform.

  3. tokens can be created using the ERC-20 protocol on ethereum

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1.) The benefits : Many people can participate on (d)apps based on a protocol level (cryptocurrency, blockchain or token) and getting incentives/rewards for using that dapps and keep them alive and/or let them grow, not as a few companies “controlling” their centralized plattforms like Google, Facebook, etc.
As an early adopter of that dapps you have a benefit of higher rewards (more tokens) as in the future if the dapps are growing - according to supply and demand.
2.) A token is a “child” of an cryptocurrency/coin. eg. ERC20 Token based on ETH - using ETH as layer below and are represented by a smart contract.
3.) As described in 2.), a ETH token is a smart contract based on the ETH platform, which can be on ERC20 (fungible), ERC721(nft), ERC1155(nft) Standard - code can be writen in solidity, which defines the logic of that SC/Token.

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  1. In web 3.0 there’s an incentive to be an early adopter, hence the reward decreases over time but the value increases (mimicking a bigger demand than supply).

  2. A token is a fungible or non fungible asset created on a blockchain (like Ethereum etc.). Tokens can have equal value (fungible) which will be applicable for rewarding users for actions or different values (non fungible), which is suitable for games where tokens could represent weapons, armor etc. that has different values.

  3. A token is created using a smart contract, in either of the formats: ERC20 (fungible), ERC721 (non fungible) or ERC233 (non fungible).

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  1. gives incentives for early adopters
  2. a token is a coin used by smart contracts that are fungible and non fungilble
  3. by making a smart contract on Etherium using ERC20 or ERC721
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  1. Web 3.0 will change the present web eco-system where only few major companies are currently dominating the web landscape. The Web 3.0 with its decentralised nature will allow even small players to participate in the web and also be rewarded fairly. Owners of contents will now be able to reap economic benefits 100% themselves without sharing them. They will be able to take control of their own contents.

  2. Any Dapps built on top of a mainnet like Ethereum, EOS or Tron etc, their currencies will be called Tokens. Tokens can be fungible or non-fungible.

  3. ERC 20 or 721 tokens are cryptocurrencies built on top of the native Ethereum mainnet. They are just smart contracts with economic potentials.

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1.The internet cannot be monopolized.
2.Smart contract app built off of eth.
3.Use the ERC20 standard.

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1- We can take control of our data(not just a few monopolies like Microsoft, Google and Facebook for example).
2- Token is a currency built using Ethereum
3- By following certain standards dictated by the Ethereum, it is possible to create a code that will run on EVM. This code is called smart contract which can specify the token we are trying to create as well as any property this particular token we need it to have. For example, number of total tokens.

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  1. The benefits of web 3.0 will be users can reap the rewards instead of big companies that program an application like Google or Facebook, encourage early adoption of applications with financial incentives, and reward protocols.
  2. A token is a smart contract.
  3. Create a smart contract.
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Web3.0 / Tokens Homework

1. What are the benefits of web 3.0 (decentralized internet)?
Allows the creation of own crypto-currency enabling individuals to be rewarded for interacting with the internet and facilitates small corporations, and individuals to compete with large companies such as Google, FB, WhatApp.

2. What is a token?
A decentralized contract built on top of Ethereum.

3. How do you create a token on Ethereum?
Tokens are created on top of Ethereum protocol standard “Token ERC20” which allows all exchanges and wallets to understand how to communicate with the token. To create your token the following information needs to be defined within the contract’s code;

  • The Token’s Name
  • The Token’s Symbol
  • The Token’s Decimal Places
  • The Number of Tokens in Circulation
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1 Combate a censura, diversidade de informações, maior competição e consequentemente melhor qualidade de serviços.

2 É um ativo digital criado a partir de plataformas de contratos inteligentes(smart contracts). O token é utilizado para representar o valor de um ativo digital ou emular o valor de um ativo físico, como ouro ou moeda fiduciária. O token pode ser fungível(quando não há distinção entre os tokens) ou não fungível (quando há distinção entre os tokens).

3 Tokens são criados através de smart contracts, onde são definidos diferentes parâmetros, como supply e token standard (NFT or FT),

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

In web 2.0 the value goes to the Applications, In 3.0 the money go the protocol.

2.What is a token?

It is a digital asset, which is created by smart contract.

3.How do you create a token on Ethereum?

You can crate token using smart contact in Ethereum.

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