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What is a Token and what are they?

Types of the most common tokens

A token is a digital asset created on a blockchain platform that can represent various rights, assets, or access to services. Tokens are used in ecosystems to perform functions such as internal currency, participation in project management, or receiving rewards.

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Token issuance is the process of creating and distributing cryptocurrency tokens on a blockchain platform. This process includes the development of a smart contract that defines the rules of use and parameters of tokens, their total quantity and methods of distribution among users.

Ethereum

Peculiarities:

  • ERC-20 and ERC-721 standards: Popular standards for fungible and non-fungible tokens.

  • Developed ecosystem: Wide support and many integrations.

Pros:

  • Wide distribution and liquidity.

  • Support for DeFi and NFT projects.

​Binance Smart Chain (BSC)

Peculiarities:

  • Ethereum Compatible: Easy migration of projects from Ethereum.

  • High performance: Fast transactions with low fees.

Pros:

  • Integration with Binance for high liquidity.

  • Cost-effective for users and developers.

Solana

Peculiarities:

  • High throughput: Up to 65,000 transactions per second.

  • Low fees: Minimum transaction costs.

Pros:

  • Fast and scalable.

  • Growing DeFi and NFT ecosystem.

TON
(The Open Network)

Peculiarities:

  • High scalability: Processing millions of transactions per second.

  • Low fees: Cheap and fast transactions.

Pros:

  • Efficiency and productivity.

  • Integration and development tools.

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