What is a Token?

Modified on Fri, 17 Feb 2023 at 09:20 AM

A token is a word which serves as a representative of any assets or utility that are tradeable in blockchain. It shows the owner’s right on a specific value or asset. Comparing to BTS card, a token in cryptocurrency is similar as a representative of user’s right in using BTS; however, it is in the invisible form. A token is easily created.  A specific Blockchain like Ethereum Blockchain allows people to create tokens by using a template via smart contracts. Moreover, tokens are usually use for raising funds through an Initial Coin Offering (ICO).

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