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…Utility Token A succinct definition of Utility Token Utility TokenLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYUTILITY TOKENCopy linkShare on TwitterShare on FacebookShare on LinkedinUtility TokenUtility tokens grant their holders certain privileges and access to services. Each utility token is unique to its ecosystem and cannot be mined. Instead, tokens are typically pre-mined by the team behind the project and distributed through specific methods. Utility tokens are common…
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…Below are some of the most popular today, in no particular order: Tether (USDT) USDT is pegged to the US dollar and currently the most popular stablecoin in the market.USD Coin (USDC)USDC is a fully collateralised US dollar stablecoin powered by Ethereum, jointly created by Circle and Coinbase.Polygon (MATIC) MATIC is typically used to secure Polygon’s Proof of Stake (PoS) network through validators, who receive additional MATIC tokens as a reward for staking their tokens.Shiba Inu (SHIB)S…
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…Below are some of the most popular today, in no particular order: Tether (USDT) USDT is pegged to the US dollar and currently the most popular stablecoin in the market.USD Coin (USDC)USDC is a fully collateralised US dollar stablecoin powered by Ethereum, jointly created by Circle and Coinbase.Polygon (MATIC) MATIC is typically used to secure Polygon’s Proof of Stake (PoS) network through validators, who receive additional MATIC tokens as a reward for staking their tokens.Shiba Inu (SHIB)S…
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…This contract then becomes the foundation of different cryptocurrencies, be it a stablecoin, a security token, or a utility token. Some examples of ERC-20 tokens are Chainlink (LINK), Dai (DAI), and Basic Attention Token (BAT). ERC-721 Token Standard In contrast with ERC-20, a fungible token standard, ERC-721 is a token standard for non-fungible tokens (NFTs), which are a special type of cryptographic token not mutually interchangeable by their individual specification. This means that one token…
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Token A succinct definition of Token TokenLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYTOKENCopy linkShare on TwitterShare on FacebookShare on LinkedinTokenWhile cryptocurrency coins are native assets of a specific blockchain, cryptocurrency tokens are created by projects built on top of already existing blockchains. For example, Ether (ETH) is categorised as a coin because it represents the native asset on the Ethereum blockchain. However, Dai (DAI), Uniswap (UNI), and Aave …
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…Governance Token A succinct definition of Governance Token Governance TokenLevel UpNEWIndividualsBusinessesDevelopersDiscoverCompanyGLOSSARYGOVERNANCE TOKENCopy linkShare on TwitterShare on FacebookShare on LinkedinGovernance TokenGovernance tokens are the main utility tokens in decentralised finance (DeFi) protocols. This type of cryptocurrency grants holders voting rights that can influence decisions concerning the project. In doing so, it decentralises the traditional structure, such as havin…
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… Utility tokens may provide access to certain services or products developed by the token issuer. Security tokens act like traditional securities and are even treated the same by many governmental agencies. What Are Tokens Used For? Most crypto tokens are designed to be used within a blockchain project or decentralised app (dapp). Unlike crypto coins, tokens aren’t mined; they are created and distributed by the project developer. Once tokens are in the hands of purchasers, they can be used in…
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… Utility tokens may provide access to certain services or products developed by the token issuer. Security tokens act like traditional securities and are even treated the same by many governmental agencies. What Are Tokens Used For? Most crypto tokens are designed to be used within a blockchain project or decentralised app (dapp). Unlike crypto coins, tokens aren’t mined; they are created and distributed by the project developer. Once tokens are in the hands of purchasers, they can be used in…
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… Utility tokens may provide access to certain services or products developed by the token issuer. Security tokens act like traditional securities and are even treated the same by many governmental agencies. What Are Tokens Used For? Most crypto tokens are designed to be used within a blockchain project or decentralised app (dapp). Unlike crypto coins, tokens aren’t mined; they are created and distributed by the project developer. Once tokens are in the hands of purchasers, they can be used in…
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…In March 2017, Brave revealed a new blockchain-based digital advertising business, employing an innovative Ethereum-based utility token called the Basic Attention Token (BAT). In May 2017, Brave launched BAT and offered 1 billion tokens, one-third of the token’s total supply, in an initial coin offering (ICO) that generated more than US$35 million in just 30 minutes. The corporation put aside the remaining 500 million BAT token supply for a user growth pool and a development team pool. In ear…
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