Crypto Currency

A beginner’s guide to Ethereum tokens

Editor: Next to Bitcoin, Ethereum is the second most popular cryptocurrency, by market capitalization. Within the last week alone, it’s price has gone from about $90.00 to about $200.00. The post provides some information on Ethereum tokens.

What is an Ethereum token?

Before learning about Ethereum tokens, it is important to first understand the basics of Ethereum. Please see my beginner’s guide to Ethereum for those new to this concept entirely. Ethereum tokens are simply digital assets that are being built on top of the Ethereum blockchain.

Related Post:  Looking for a less risky route to ICO investing? CoinStarter's multi-stage process might be it

They benefit from Ethereum’s existing infrastructure instead of developers having to build an entirely new blockchain. They also strengthen the Ethereum ecosystem by driving demand for ether, the native currency of Ethereum, needed to power the smart contracts. This beginner’s guide should help those who are new to digital assets to understand Ethereum tokens at a high level and how they are different than Ethereum.

Ethereum is a platform that can be used to create any arbitrary smart contract including smart contracts that represent digital assets called Ethereum tokens. This is similar to the App Store providing a platform for iOS apps with some apps issuing their own digital currencies that are used within the game or system. However, with Ethereum there is no centralized entity like Apple that controls what gets added to the App Store. Anyone can create a token on top of Ethereum.

Related Post:  Announcing Corda training for developers at Blockchain & Cryptocurrency Con 2018

Ethereum tokens can represent anything from a physical object like gold (Digix) to a native currency used to pay transaction fees (Golem). Read the complete article here.

Ethereum tokens

Subscribe to LinuxBSDos.com

Subscribe to receive the latest articles in your Inbox

Trust me, you'll not be spammed...

Please share:

We Recommend These Vendors and Free Offers

Google has got competition, because Presearch is building a blockchain-based search engine controlled by the community. At $0.15 a token, you can participation in Lot 3 of the token sale by clicking here

Open Money is building a solution that will run mainstream software on blockchain tech. Click here to get free tokens that will be the digital currency of the platform

COMSA allows centralized businesses to adopt blockchain technology. The token sale starts soon! Sign up for free by clicking here

Register now for Blockchain & Cryptocurrency Con 2018, international conference on blockchain technnology in Dallas, TX (USA), Feb. 23-24, 2018. Students can register at a 50% discount.

Launch an SSD VPS in Europe, USA, Asia & Australia on Vultr's KVM-based Cloud platform starting at $5:00/month (15 GB SSD, 768 MB of RAM).


Leave a Comment

Your email address will not be published. Required fields are marked *

*