Token
By CoinGecko | Updated on Mar 03, 2020
Tokens and coins are often erroneously regarded as interchangable terms. However, while both tokens and coins share technical similarity, tokens are ussually built atop a smart contract platform and is issued en-masse during its inception. Tokens grants its holders the right to take part in the issuing parties' network or product.
Related Terms
Derivatives Market
A market for derivatives which are instruments such as futures or options whose value is derived from an underlying asset.
Delegated Proof-of-Stake (dPOS)
A consensus mechanism where selected members of a network are voted as delegates to validate transactions and produce blocks on a blockchain.
Testnet
Shorthand for "Test Network", testnets are staging areas for experimenting new blockchain features.
Non-Fungible Tokens (NFT)
They are collectible elements within the Ethereum blockchain under ERC-721, where each token refers to a single element with a certain value
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