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Author Topic: PURPOSE OF TOKEN?  (Read 2664 times)
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April 29, 2018, 12:44:27 AM
 #21

Hi guys, this just bother me long time ago, and just popped up recently..

What is the purpose of token?

I can not figure it out because I have one token before and I did not know how to use it and I can not even transfer it to bitcoin. I am just wondering why people keep inventing and creating so much token at all.
I hope I can get POSITIVE response and not some hates and negative one.

Thank you.

Token usually using smart contract. They not using their own blockchain and they using other project blockchain like ethereum. Token used for utility and can used in many bussiness like financial or banking. If we deep searching about token utility, we will find many interesting knowledge because with smart contract, token issuer can publish bonds or something like that

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April 29, 2018, 12:47:30 AM
 #22

Token or Alternative cryptocurrencies. Token use to promote their project and represent. Different token have their own purposes. There are tokens that don't have value and e called it shitcoin and also there are a lot of token out there that have a great value.

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April 29, 2018, 12:52:44 AM
 #23

Well,  I think the most of project will give a rewards as a token, and I think the token means initial for their companies, they need to promote thier company with those tokens. Tokens had exchange you can sell it there or make it in to eth or btc either.

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April 29, 2018, 01:07:22 AM
 #24

Token or commonly called alternative cryptocurrency usually use smart contract to you can use other things like banking or other business, Can also to be exchanged to ethereum then you exchange with bitcoin, but if token have good value. Tokens are used by companies to promote their projects and they have different goals. You can just get a token with a great value but also a lot of shitcoin out there.

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April 29, 2018, 01:26:34 AM
 #25

Hi guys, this just bother me long time ago, and just popped up recently..

What is the purpose of token?

I can not figure it out because I have one token before and I did not know how to use it and I can not even transfer it to bitcoin. I am just wondering why people keep inventing and creating so much token at all.
I hope I can get POSITIVE response and not some hates and negative one.

Thank you.

These tokens, which can be exchanged over the system and exchanged on cryptocurrency trades, can serve a huge number of various capacities, from conceding holders access to a support of qualifying them for organization profits. Contingent upon their capacity, crypto tokens might be named utility tokens or security tokens.
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April 29, 2018, 02:19:25 AM
 #26

Token is a type of cryptography of a company that releases, each token has its own value, The purpose is to create growth and development.
There are also some who abuse the token to cheat.
Be careful and learn before buying a token

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April 29, 2018, 02:58:25 AM
 #27

Hi guys, this just bother me long time ago, and just popped up recently..

What is the purpose of token?

I can not figure it out because I have one token before and I did not know how to use it and I can not even transfer it to bitcoin. I am just wondering why people keep inventing and creating so much token at all.
I hope I can get POSITIVE response and not some hates and negative one.

Thank you.
You should look up the token you have on google to know more about it because we don't know which specific token you're holding. People don't stop creating tokens because nothing can stop them and they can hire someone to do the work for them. Maybe the token you're holding doesn't have enough value to be listed on exchanges since you said that this was a long time ago.

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April 29, 2018, 09:01:09 PM
 #28

Basically token is the summation of the campaign, different token signifies different project and different purposes. Token is given either from the bounty or from the airdrops. Mostly token came from biunty which is the payment they given after the project to all of the participants. 



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May 02, 2018, 05:26:43 PM
 #29

I understand your lack of understanding of the role of tokens and altcoins, many are faced with similar questions and are looking for an answer. I want to explain to you the example of the project Connecty , which will release its own CTY token.

_______________________________________________________________________________ ________

Why a dedicated token and the use of the blockchain ?
_______________________________________________________________________________ ________



Now, we not only have an infinite market , but it also presents an opportunity for exponential growth once the efficiency of positive sum trades is realized, along with the creation of new knowledge by harnessing great minds and gathering ideas in one global place.
To guarantee the sustainability of our knowledge ecosystem, we create a dedicated currency, CTY (connecty) an ERC20 token.

The creation of this new currency is necessary for three main reasons:


  • Rating knowledge trades with currency. the world of science hates money. Most scientists and other kinds of knowledge owners aren’t motivated by money. Their objective is to create knowledge and in general, they are fundamentally opposed to the financial model. Using a token allows us to overcome this hurdle. It will also have multiple use cases on our platform (purchase books, reviews, subscriptions to scientific and tech magazines, tickets for conferences and salons…). The knowledge owner will, in the end, never have to use FIAT currencies if they so desire. They can sell knowledge for CTY, purchase other knowledge for CTY, creating new knowledge in the process.

  • Setting up a circular knowledge economy. The challenge is to allow the free and unlimited trade of knowledge between people, without restrictions. But trades still have to be measured and quantified to be fair to those who share knowledge. Those sharing the most will be able to use their earned tokens and spend them through our knowledge store or convert them into the currency of their choice.

  • A reliable and secure trade option for this global scale project. ERC20 tokens bring all the positive features of the blockchain: Security, decentralization, confidentiality, very low operating cost. But it also brings aspects of the Smart Contracts technology (automatisation of processes, flexibility, trust and reliable environment...).

https://www.connecty.io/wp-content/themes/connecty-wordpress-theme/components/images/cty_5.png?t=1

As mentioned earlier, the CTY token is a utility type token, namely intended to be used as knowledge currency on the Connecty.io platform, to take advantage of all the services offered on it.

The currency of Knowledge, CTY, will have different roles:

  • To purchase knowledge on the platform from those selling it (certified experts, reliable professionals, scientists, technicians, specialists…).
  • To purchase goods & services in our knowledge store, sponsored by professional companies of different kinds (editors, magazines, newspapers, event managers…).
  • To allow the easy conversion into FIAT currencies to spend as you wish. Or perhaps, to finance research or business related projects.

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May 02, 2018, 05:28:28 PM
 #30

Have you ever read the white paper of the token you have? Don't just take and gather some random token that you don't have any idea how to use them.

Very important that which ever token you want to invest better to do your complete research and then understand and read its whitepaper and then only think to invest in any token. As many of the token is created for the owner to make money and not for investors.
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May 02, 2018, 05:31:57 PM
 #31

Have you ever read the white paper of the token you have? Don't just take and gather some random token that you don't have any idea how to use them.

Very important that which ever token you want to invest better to do your complete research and then understand and read its whitepaper and then only think to invest in any token. As many of the token is created for the owner to make money and not for investors.

If we would just value what token is, we would see that it is a great help in a company too, but a lot of there also appearing here and in the market just to collect funds and after that you'll find out that their purpose is just to collect money and would run away, so be careful with it too.

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May 02, 2018, 05:40:10 PM
 #32

Tokens given from the airdrops or bounties are one way that projects do for promotion. It is a good marketing strategy. It is not entirely a new coin as what we can really exchange almost anywhere.

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May 02, 2018, 05:50:40 PM
 #33

Hi guys, this just bother me long time ago, and just popped up recently..

What is the purpose of token?

I can not figure it out because I have one token before and I did not know how to use it and I can not even transfer it to bitcoin. I am just wondering why people keep inventing and creating so much token at all.
I hope I can get POSITIVE response and not some hates and negative one.

Thank you.
Tokens are basically etehreum based currencies, created by project owners developers, and one with any type of service that people need to pay for, to make things easier and more practical and more secure, so take for example someone owns an online gambling site instead of making people pay for their bets using bitcoin they would buy tokens and pay their bets with them, not only it is profitable for the owner him self but also for people who are investing in it.
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May 02, 2018, 08:19:10 PM
 #34

Hi guys, this just bother me long time ago, and just popped up recently..

What is the purpose of token?

I can not figure it out because I have one token before and I did not know how to use it and I can not even transfer it to bitcoin. I am just wondering why people keep inventing and creating so much token at all.
I hope I can get POSITIVE response and not some hates and negative one.

Thank you.
Tokens are basically etehreum based currencies, created by project owners developers, and one with any type of service that people need to pay for, to make things easier and more practical and more secure, so take for example someone owns an online gambling site instead of making people pay for their bets using bitcoin they would buy tokens and pay their bets with them, not only it is profitable for the owner him self but also for people who are investing in it.
In addition, the token is made for the promotion to their company, they used token and having a name for their company to have a well-known name when they distributed on it. They made mostly ERC20 tokens it means that ethereum base token and compatible only with ethereum and under on ethereum technology. This token in ICO project is just like fiat they paid their participants using tokens or to invest using token.

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May 02, 2018, 11:36:58 PM
 #35

What is the purpose of token?
This is what most of the ICOs don't really have.

I am just wondering why people keep inventing and creating so much token at all.
They are assuming that they'll gather a big market cap that can benefit not only the investors but mostly them as the creators.
Try to visit those exchanges that has that token of yours in trade/listed so you can just sell it off and get your profit in bitcoin.

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May 02, 2018, 11:42:06 PM
 #36

Token is an alternative cryptocurrency coin. You can also hold it, sell or buy another. There are many many tokens around here.

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May 02, 2018, 11:43:20 PM
 #37

Hi guys, this just bother me long time ago, and just popped up recently..

What is the purpose of token?

I can not figure it out because I have one token before and I did not know how to use it and I can not even transfer it to bitcoin. I am just wondering why people keep inventing and creating so much token at all.
I hope I can get POSITIVE response and not some hates and negative one.

Thank you.

Well for me Tokens were very important if your profit or number of stakes will remain as is it will be hard for you how to calcupate the amount of profit that you can get for the service that you have offered to them, and this is for specification for the amount of profit that you need to multiply to the amount given in the exchanger.

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May 03, 2018, 01:08:05 AM
 #38

Hi guys, this just bother me long time ago, and just popped up recently..

What is the purpose of token?

I can not figure it out because I have one token before and I did not know how to use it and I can not even transfer it to bitcoin. I am just wondering why people keep inventing and creating so much token at all.
I hope I can get POSITIVE response and not some hates and negative one.

Thank you.

Actually having different tokens from different company are really has a purpose. Any company will do issue their token name because they wanted to be much popular and familiarizing in the market. The token serves them as a promotional strategy to  easily recognizing their projects. Definitely different tokens has a different value in the market. Mostly campaign are giving their free token thru airdrops but there is a fact that it could be hastle for us because we need to wait for the exchanger before we can convert it to the currency that they want.


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May 03, 2018, 01:10:56 AM
 #39

A token (altcoin) is another crypto currency. For example, if you have an indian rupee, you can exchange that for a more substantial currency, like euros or dollars. It is the same for altcoins, you can exchange them for Ethereum then exchange it to Bitcoin if you want to. Although you mist do this in exchanges and it will cost you.

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May 03, 2018, 01:12:26 AM
 #40

Actually having different tokens from different company are really has a purpose. Any company will do issue their token name because they wanted to be much popular and familiarizing in the market. The token serves them as a promotional strategy to  easily recognizing their projects. Definitely different tokens has a different value in the market. Mostly campaign are giving their free token thru airdrops but there is a fact that it could be hastle for us because we need to wait for the exchanger before we can convert it to the currency that they want.


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