2022/12/10 22:42

What is a Token? Tokens can represent anything. For example, cash with the same value (100RMB = 100RMB), the QR code on our mobile phone, or even your driver’s license. We use Tokens every day (tokens are tokens).

What is a token?

Tokens were first used in ancient trade such as shells and pearls. Tokens usually have some natural limits on their number, or anti-counterfeiting measures to prevent someone from cheating, such as counterfeit banknotes. Common tokens in ancient times were gold and silver and although gold and silver exists in nature, but it has natural limits due to its predictable mining volume and can maintain a certain value. Another example is QR codes, as QR codes are associated with user information that needs to be matched one-to-one. In addition, personal ID cards include things like chips, biometric authentication, etc., which makes it difficult for ordinary people to create counterfeits, and is also one of the forms of tokens.

In the blockchain, tokens can be virtual tokens such as ETH, Back, USDT stablecoin and USD 1:1), or NFTs, such as BAY (Curry’s $180,000 avatar), Step’s shoes (in-game items).