Crypto tokens are digital assets that are used within a blockchain-based system. They serve a variety of uses, from acting as a medium of exchange to providing access to a particular service or product. This article will explore six of the most important use cases for crypto tokens and provide examples beyond medium of exchange. Good to learn as there will be numerous tokens available on the upcoming ENEDEX V.1!
1. Access Tokens
Crypto tokens can also be used to provide access to a particular service or platform. This type of token is often referred to as an access token. A great example of this is the Ethereum-based ERC-20 token, which is used to access the Ethereum blockchain-based ecosystem.
2. Utility Tokens
Utility tokens are tokens that provide utility to a product or service. For example, the Augur REP token is a utility token used to access the Augur prediction market platform.
3. Security Tokens
Security tokens are tokens that represent ownership of an asset, such as shares in a company. They are regulated by securities and exchange laws, which makes them a popular way for companies to raise capital. A great example of this is the security token offered by blockchain startup Blockstack, which is used to raise capital for the development of their products.
4. Non-Fungible Tokens
Non-fungible tokens (NFTs) are tokens that are not interchangeable with other tokens. They are used to represent digital assets, such as artwork or music. An example of an NFT is the Cryptopunk or Bored Ape token, which is used to represent collectible artworks on 2 bits of punk and a literal cartoonish picture of a monkey. Although most of them serve as utility token or access token as well, hence command a high value among collectors.
5. Stablecoins
Stablecoins are tokens that are designed to maintain a stable value. They are usually backed by an asset, such as a fiat currency, gold, or other commodities. A good example of this is DAI, which is a stablecoin backed by Ethereum.
6. Governance Tokens
Governance tokens are tokens that are used to provide voting rights for a particular platform or protocol. A great example of this is MakerDAO.
Got any more use cases that we missed or do you have particular tokens that you would like to see in the upcoming ENEDEX V1?
Tell us more on ENEDEX socials below to be the first to try :
🐦Twitter : https://twitter.com/ENEDEX_HQ
🗣 Telegram : https://t.me/ENEDEX_Official
📖 Medium : https://medium.com/@enedex
Get $ENE today to be a part of sustainable blockchain and energy evolution on :
🥞Pancakeswap : https://pancakeswap.finance/swap?outputCurrency=0x3becb1170183fdbc8f1603dacd1705c093bc33b7
Analyze price actions on :
👾Dextools : https://www.dextools.io/app/bsc/pair-explorer/0xc2660b04dc2fb671ba6860cf9f9292a2b68bf486
📈Coinmarketcap :
