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Tokens

Token are not digital coins. Tokens are created on existing blockchains. The most common blockchain token platform is Ethereum and tokens from this platform are known as ERC-20 tokens.

There are also other tokens such as NEO, Waves, Lisk, and Stratis. NEO uses tokens known as NEP-5 tokens.

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Digital coin definition and examples

Digital coin definition and examples

A digital coin is an asset native to its own blockchain. For example, Bitcoin exists on the Bitcoin blockchain, Ether operates and functions on the Ethereum blockchain, etc.

Digital coins don't move physically when you send and receive them. They exist as data on a ...

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Digital coin uses

Digital coins are generally used the same way as real-life money in your walletFor example, Bitcoin can be used to pay for goods and services all over the internet and often in real-world places too. You can store it for a long time or swap it for something of equal value.

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Understanding how tokens work

Tokens are used to interact with decentralised applications that are built on top of different blockchains.

For example, Civic (CVC) is an application that keeps track of encrypted identities on the Ethereum blockchain. If you were to go on a foreign holiday, you'd need...

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Security Token, Equity Token, or Utility Token

  • Security Tokens. Most tokens issued by Initial Coin Offerings (ICO) are security tokens. This is because the buyer invests their money in the ICO expecting a profit.
  • Equity Tokens. It represents some stock or equity in the company that issues it.

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How tokens are created

Creating a token takes little technical ability, but it requires the developer to spend some native coins to the blockchain on which the token is being created.

For example, a creator will need to spend some Ether to create a token on Ethereum. This is used to get the miner...

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The purpose of tokens

Most tokens are used with decentralised applications (dApps). When developers create their tokens, they can be used to activate features of the application they were designed for.

Some tokens are created to represent a physical thing. If you want to sell yo...

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micaldw

Hydrographic surveyor

People who are new to cryptocurrency often confuse the term "token" and "coin". This guide defines the two terms and provides some examples for a better understanding.

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Building a smarter coin

Despite Mt.Gox and the Silk Road, bitcoin continued to enter the mainstream. At the end of 2014, Microsoft began accepting bitcoin payments. In 2015, other cryptocurrencies such as Ethereum - also based on the blockchain - began to emerge.

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Blockchain: From Energy To Banking

  • Steve Wozniak (of Apple fame) is using blockchain to power its new company which aims to increase energy efficiency.
  • Mining of coins, a process that produces cryptocurrency is also being handled by blockchain technology.
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Basic Attention Token (BAT)

Basic Attention Token (BAT)

It is a token for the decentralized ad exchange. BAT connects advertisers, publishers, and users, creating a new, efficient marketplace. 

The token is based on Ethereum technology, an open-source, blockchain-based distributed computing platform with smart contracts. The token is derived fro...

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