Homework: Web3.0 and Tokens

web 3.0s benefit brings value to the protocal
where as 2.0s value was in the app.

a Token is a smart contract written on top of etherium

Write a DAP to run on the ethereum network.

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

Web 3.0 financially incentives the user to be a participant. This model encourages self autonomy and involvement due to positive reinforcement. Web 2.0 though essential has created an economy based upon the user as a product. These massive sales funnels have focused significant power into the hands of the early adopters who worked together primarily in intellectual silos. Now the success of new technologies can directly benefit early investors those who are already interested in the project’s community.

  1. What is a token?

A token is the method of exchange for the economies developed on a smart contract which uses Ethereum’s EVM to function.

  1. How do you create a token on Ethereum?

A token is built on the Ethereum network according to ERC- 20 standards. These standards create uniformity of ERC-20 projects allowing them to interrelate without conflict.

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1 What are the benefits of web 3.0 (decentralized internet)?
The benefits of web 3.0 will and does enable anyone to make money at the protocol level unlike TCP and HTTP protocols on web 2.0

2 What is a token?
A token is a dapp/crypto currency that is built on the ethereum network.

3 How do you create a token on Ethereum?
This is done via coding a specific program on the ethereum blockchain alongside smart contract code.

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The benefits of a decentralized communication mechanism is that there is no single point of failure in method or authority for any operation two parties want to partake in.

A token is a digital asset worth a certain amount of actual currency that is traded on a decentralized platform.

A token is created via a mechanism on a decentralized network with a majority consensus. The consensus mechanism that is predominant in the system is proof of work although several other types of mechanisms are in play on test networks and actual networks with probabilistic results.

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1.The benefits of web 3.0 are that the value is in the protocol level ethereum
and buy using smart contracts and web sites the dapps applications created can be made by anyone, these are powerful enough to compete with the big companies using web 2.0

2.A token is a coin made by using a smart contract, ECR20 is the most popular and can transfer value, ECR 721 and 1155 are used in gaming

3.To create a token in ethereum use one of a family of ECR smart contracts

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  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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