What we understand by the term "token"

[mimiko]

token is actually best defined as the balance of some kind of account.

But, perhaps most importantly, it's a balance that can really mean anything its founder wants it to mean. To date, tokens have been made to represent a user's reputation within a system (augur), a deposit in US dollars (tether), the quantity of files that are saved in it (filecoin) and the balance in some internal currency system (bitcoin).

Because of this, I sometimes argue that tokens don't even exist – mostly, because I want to draw attention to the fact that they always have a very specific meaning.


If we want an analogy, tokens can turn everything that we're used to seeing in paper form – including shares, and money and promissory notes – digital. But the terms we will use for these things will remain unchanged (shares will still be shares). The fact that crypto assets are stored in a decentralized accounting system, or require digital signatures, doesn't change their meaning or value.

As such, the problem that is emerging isn't with the actual terms themselves, but that people have begun to assign attributes to tokens that they can't possibly have.

There are people who claim that cryptocurrency tokens are something entirely new – and that projects that issue tokens can become amazingly transformed.

Sadly, that's not the reality.

[TurveyDrop]

Actually Token are like Crypto coins based on this Tokens are work for projects and that projects is related with ICO and Bounty which is help the token to run the projects also token is the another way to gain more profits.

[Crt01]

Actually token is same as the coin but there are a few differences in between token and coin. Most of the new projects are based on token. Token can be launched from the other’s blockchain and it does not have any wallet.

[QuebecBTT]

Tokens value anything that is tangible,and is a great way of representing a value of asset.

[lobo13hf]

token is actually best defined as the balance of some kind of account.

But, perhaps most importantly, it's a balance that can really mean anything its founder wants it to mean. To date, tokens have been made to represent a user's reputation within a system (augur), a deposit in US dollars (tether), the quantity of files that are saved in it (filecoin) and the balance in some internal currency system (bitcoin).

Because of this, I sometimes argue that tokens don't even exist – mostly, because I want to draw attention to the fact that they always have a very specific meaning.


If we want an analogy, tokens can turn everything that we're used to seeing in paper form – including shares, and money and promissory notes – digital. But the terms we will use for these things will remain unchanged (shares will still be shares). The fact that crypto assets are stored in a decentralized accounting system, or require digital signatures, doesn't change their meaning or value.

As such, the problem that is emerging isn't with the actual terms themselves, but that people have begun to assign attributes to tokens that they can't possibly have.

There are people who claim that cryptocurrency tokens are something entirely new – and that projects that issue tokens can become amazingly transformed.

Sadly, that's not the reality.

I can understand about that because the majority of them are writing a lot of non-sense thing, in fact there are only some projects are creating a proper business plan that used token in every of their service. You can try to call those exchange sites which have used their own coin to give the more advantages to the users and some platforms like SAN, KICK, CRPT and many more which have already released the platform and their tokens can be used to access the platform.

[Fleve]

Me seems, token means the security against your money invested for projescts.If you buy tokens for US dollars, you have some security and chance to observe whether your money is growing or losing its value in the market.

[iconoclast]

token is actually best defined as the balance of some kind of account.

But, perhaps most importantly, it's a balance that can really mean anything its founder wants it to mean. To date, tokens have been made to represent a user's reputation within a system (augur), a deposit in US dollars (tether), the quantity of files that are saved in it (filecoin) and the balance in some internal currency system (bitcoin).

Because of this, I sometimes argue that tokens don't even exist – mostly, because I want to draw attention to the fact that they always have a very specific meaning.


If we want an analogy, tokens can turn everything that we're used to seeing in paper form – including shares, and money and promissory notes – digital. But the terms we will use for these things will remain unchanged (shares will still be shares). The fact that crypto assets are stored in a decentralized accounting system, or require digital signatures, doesn't change their meaning or value.

As such, the problem that is emerging isn't with the actual terms themselves, but that people have begun to assign attributes to tokens that they can't possibly have.

There are people who claim that cryptocurrency tokens are something entirely new – and that projects that issue tokens can become amazingly transformed.

Sadly, that's not the reality.

My understanding is that if a cryptocurrency has its own blockchain then it is referred to as a coin. If it is traded on someone elses blockchain then it is referred to as a token. It is also quite common for a cryptocurrency to be issued as a token and then develope its own blockchain and become a coin. I have had that happen with ICON (ICX) which now trades on a propriety blockchain and the OPEN Platform (OPEN) which is in the process of transitioning to its own blockchain. I have never heard anyone claim that cryptocurrency is something entirely new, only that it is an entirely new way of doing things. Those things you talk about existing in paper form are nothing more than a paper record. The paper has no value, only the information has value. Since this is the 21st century we no longer have need for these paper records when they can be replaced by a much more efficient and verifiable system like a decentralised ledger, all those paper records will eventually be replaced by the blockchain.

[Sact]

Tokens represent a particular asset or utility, derived from the top of another blockchain. Tokens represent anything that is tangible and exchangeable, from commodities to loyalty points to even other cryptocurrencies!

[GraingerTainMian]

Token is a type of digital account that can be converted into financial costs. However, its meaning can only be interpreted by the manufacturer. Token is a wealth of crypto that has the ability to deal with.

[RottenSteel]

The term token is usually used in different meanings. It can be used as a price, such as I have some tokens that have a fixed value.

[Nolimitz84]

Now there is a rapid tokenization of property.Soon the world will be full of tokens.We are slowly moving on to the age of Aquarius.And she's very close

[steve_rogers321]

Actually Coins and Token are the same things but there are some difference Token have something individual like ICO or Bounty etc but it is related with project which is mainly for mine also investing on token is also profitable.

[CoinOnTheBeach321]

It's true that it's not something "entirely" new, the tokens are just the digital form of currencies, and it's the same as the real one, it's just virtual. But then again, it's also not like it doesn't have any new sides, it has new and unique features which attract the investors even more. All in all, tokens are just some status which represents the quantity of the currency you are holding.