What Would Be Your Case If You Were A Token?
One thing first I would state here is to know the different between coin and token because I discovered also that most people tend to use one for the other. Cryptocurrencies use a decentralised ledger for transactions, which is called a blockchain used to keep track of transactions. Instead of central authority having all the power to control and authorize transactions, the approval of transactions are set to be distributed between many nodes.
However, most cryptocurrencies are decentralised, it is generally easier to buy and trade on an exchange than to make normal peering transfers. Many currencies are available which can be used for an exchange, with some popular than the other and trading at a higher volume and value, than others. These currencies can be classified into 2, which are coins and tokens.
And coin is a digital currency which is built to be distributed to its blockchain and used as a medium of exchange. Bitcoin, for instance, operates on its own blockchain and Ether which is a coin operates on its Ethereum blockchain and so on. With network, transfers can be done from one user and send their coins to another. So while one user is exchanging Bitcoin for Ethereum, the transactions are being recorded on the respective blockchains.
While crypto tokens are representation of cryptocurrencies denominations. They’re tradable assets built on top existing blockchains. Crypto tokens are also often use for fundraise sales , they can be used for investment, store as values, traded and hold onto to represent a stake and earn interest.
Please note, Cryptocoins are forms of currency that are used to make purchases, but you can use a crypto token not just for making purchases but for other purposes which includes investing and to store value.
And with the topic above What would be your case if you were a token If I was to be a token, I would help people own a fraction of a property through NFTs so they can earn continuous yield from one of the world's most secure, consistent and reliable investment asset classes to ever exist. Too unrealistic? Dreams can come to reality if only you believe.
Posted Using LeoFinance Beta