Token

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An abstraction, a symbol that stands for some reality such as an asset (or measures of) or access to a process.

The blockchain technology has the unique property to implement digital scarcity, which is a fundamental requirement for a token.

Types of tokens

Thus, various types of tokens have been implemented.

Fungible Are replaceable.

  • Currency: they serve as a unit of account, a store of value (traditional view, see more on our interpretations of value) and a medium of exchange
  • Utility: they provide (limited) access to a process / service, including to governance.

Unfungible Are not replaceable.

  • NFT: they attest ownership rights over an asset.


See also

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