What is a Token?

What is a token

“Token” is another word for “cryptocurrency” or “crypto asset.” It has taken on a few more distinct meanings as time has passed.

  • The first meaning is to describe all cryptocurrencies besides Bitcoin and Ethereum (even though they are also technically tokens). 
  • The second meaning is to describe digital assets that run on top of other cryptocurrencies’ blockchains, as many decentralized finance (or DeFi) tokens do. 
  • Tokens have a wide range of potential functions, and they can be traded or held like any other cryptocurrency.

Unable to find an answer?

Looking for anything specific article which resides in general queries? Just browse the various relevant folders and categories and then you will find the desired article.

Contact Us