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Cryptocurrency token

Cryptocurrency token

A token can have various definitions. Tokens exist in currency systems and computing.

Definitions:
  1. A token is a type of digital crypto-assets, giving owners conferring the right to own something assets: product, service, or security.
  2. The term cryptocurrency token can be used to represent many different forms of "tokenized data" that represents a cryptographic string of letters and numbers. For example, a cryptocurrency token can be used to describe a cryptocurrency such as Bitcoin, or be used to refer to a digital asset existing on another cryptocurrencies blockchain such as an ERC-20 token on the Ethereum blockchain. If no specific context is given a token should be assumed to represent a cryptocurrency that exists on another cryptocurrencies blockchain.
Description:

The token is very similar to a digital signature. But if the digital signature is regulated by government law then the token is not. It created many problems for using tokens in business and everyday life. If you bought a token desfor a car, that confers your right to own the automobile, you would not get it through the court. That means, the first holder of the token can sell it for you but must not give you real assets.

The main attribute of the token against the non-fungible token (NFT) is standardization. You can create a token for fiat currency, gold, oil, and other things that have a definite standard. But for non-standard things like pieces of art, second-hand goods, etc, using NFT.

Usually, the tokens issuing on their own or third-party blockchain networks. That created different types with individual characteristics: TRC-20 (Tron), QRC-20 (Qtum), NEO-5 (NEO), ERC-20 (Ethereum), BEP-20 (Binance).

Timeline

Further reading

Title
Author
Link
Type
Date

Crypto tokens and the coming age of protocol innovation

Albert Wenger

http://continuations.com/post/148098927445/crypto-tokens-and-the-coming-age-of-protocol

web

Crypto tokens: A breakthrough in open network design

Chris Dixon

https://medium.com/@cdixon/crypto-tokens-a-breakthrough-in-open-network-design-e600975be2ef

Web

Keepers: workers that maintain blockchain networks — when designed correctly, tokens can act like rocket-fuel for driving network effects by incentivizing desired behaviors

Ryan Zurrer

Web

Mental models for understanding tokens

Nick Tomaino and Chris Dixon

Web

Thoughts on tokens

Balaji Srinivasan

Web

Documentaries, videos and podcasts

Title
Date
Link

🔥THE NEXT 100X CRYPTO COIN IS LAUNCHING SOON?!! (GET IN FIRST?!!)🚀🚀🚀

March 8, 2022

Crypto Coin vs Token (Differences + Examples)

May 18, 2021

Shiba Inu: Elon Musk & SHIB Holders predict $0.001 per SHIB | Cryptocurrency NEWS

March 11, 2022

References

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