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A crypto token is a virtual currency token or a denomination of a cryptocurrency. It represents a tradable asset or utility that resides on its own blockchain and allows the holder to use it for investment or economic purposes. Crypto tokens, like legal tender, can represent an investor's share in a corporation or serve an economic purpose. This means that token holders can use them to make purchases or exchange them for profit, just like traditional securities. The term crypto token refers to a special virtual currency token or how cryptocurrencies are denominated. These tokens represent fungible and tradable assets or utilities that reside on their own blockchains. Crypto tokens are frequently used to raise funds for crowd sales, but they can also be used to replace other items. The traditional initial coin offering (ICO) method, which comprises a crowdsourcing exercise to support project development, is used to produce, distribute, sell, and circulate these currencies.   KEY TAKEAWAYS • Crypto tokens are a type of cryptocurrency that represents an asset or specific use and reside on their own blockchain. • Tokens can be used for investment purposes, to store value, or to make purchases. • Cryptocurrencies are digital currencies used to facilitate transactions (making and receiving payments) along the blockchain. • Altcoins and crypto tokens are types of cryptocurrencies with different functions. • Created through an initial coin offering, crypto tokens are often used to raise funds for crowd sales.   How Crypto Tokens Work? Crypto tokens, as previously stated, are cryptocurrency tokens. These tokens are denominated in cryptocurrencies or virtual currencies, and they have their own blockchains. Blockchains are specialized databases that store data in blocks that are subsequently connected together in a chain. This means that crypto tokens, also known as crypto assets, represent a specific monetary unit.   Here's how it all works. Crypto refers to the various encryption algorithms and cryptographic techniques that safeguard these entries, such as elliptical curve encryption, public-private key pairs, and hashing functions. Cryptocurrencies, on the other hand, are systems that allow for secure payments online which are denominated in virtual tokens. These tokens are represented by ledger entries internal to the system. These crypto assets often serve as the transaction units on the blockchains that are created using the standard templates like that of the Ethereum network, which allows a user to create tokens.3 Such blockchains work on the concept of smart contracts or decentralized applications, wherein the programmable, self-executing code is used to process and manage the various transactions that occur on the blockchain.   TIP: A smart contract is a self-executing contract with the terms of the agreement between buyer and seller directly written into lines of code. The code and the agreements contained therein exist across a distributed, decentralized blockchain network. The code controls the execution, and transactions are trackable and irreversible.   For example, you can have a crypto token that represents a certain number of customer loyalty points on a blockchain that is used to manage such details for a retail chain. There can be another crypto token that gives entitlement to the token holder to view 10 hours of streaming content on a video-sharing blockchain. Another crypto token may even represent other cryptocurrencies, such as a crypto token being equal to 15 bitcoins on a particular blockchain. Such crypto tokens are tradable and transferrable among the various participants of the blockchain.   Special Considerations Tokens are created through an initial coin offering, which represents the cryptocurrency version of an initial public offering (IPO). Tokens are created by cryptocurrency companies that want to raise money. Investors who are interested in the company can purchase these tokens. Investors can use crypto tokens for any number of reasons. They can hold onto them to represent a stake in the cryptocurrency company or for an economic reason—to trade or make purchases of goods and services. As a practical example, decentralized storage provider Bluzelle allows investors to stake their native tokens that help secure its network and earn transaction fees and rewards.   What is the difference between a crypto coin and a crypto token? Crypto coins allow individuals to make payments using their digital currency. People can use tokens, though, for many more reasons. They can use them for trading, to hold as a store of value, and of course, to use as a form of currency. Source: : https://www.investopedia.com/terms/c/crypto-token.asp....     by: Jerich Maasin TPG - CA

Do you have a hard time comprehending the crypto world? Don't be concerned. We're going to make things as simple as possible, so stick with us and learn everything there is to know about smart contracts. So, let's get started: What is a Smart Contract?   A smart contract is a piece of code that performs an action if another event occurs. This method has given it the moniker "if this, then that." One may argue that smart contracts were the brainchild of Nick Szabo, who originated the phrase in the early 1990s, long before blockchain technology existed. "A collection of promises, stated in digital form, including procedures within which the parties act on these promises," he said at the time.   How and where can write them? They're usually created using the Ethereum network and the Solidity programming language.   Smart Contracts are Immutable They are unable to change. When they are activated, they are designed to perform something ("if this, then that"). Because smart contracts are coded on the blockchain, they, like the blockchain, cannot be modified, even if the code has a fault or inefficiency. They can, however, be "replaced" by a new contract, which must state that the previous version is not to be used.   Smart Contracts are Distributed This indicates that there are no inconsistencies. Smart contracts are online agreements that may be performed automatically if specific circumstances are satisfied. They're made to prevent human mistake and problems. Because the code is shared over a worldwide network of computers, everyone can see the terms that were agreed upon.   So, how do they work? Let's look at some instances of how smart contracts may be used. The conditions under which a smart contract settles can be limitless when writing one. They can include, but are not limited to, the following examples: • “I will give you 10 ETH (Ethereum)” and in turn “You will give me 30000 ADA (Cardano)” • “A certain number of tokens will be wired to an account if you reach a certain verifiable goal within or without a timeframe (ex: getting people to sign up for something)” • “If X happens, you will receive Y” • “If a predetermined address reaches a certain point (such as, for example, 100 ETH), every donator will receive a portion of something, such as, an NFT” Here are more concrete examples of its applications:   Token Switching Smart contracts allow users to form money pools using pairs of tokens, allowing them to swap one token for another. As the volume of one increase, the price of the other rises in order to maintain a constant value in the pool. This is especially useful for day traders and investors who want to buy in a currency that isn't currently available on their favorite exchange.   Flash Loans What if we told you that you could get a one-million-dollar loan with no money down? You can if you construct a smart contract that pays it back in the same minute or transaction block, and/or if you overcollateralize it. There are no other conditions. And we understand if you're asking why someone would take out a million-dollar loan on the spur of the moment. The answer is straightforward: conjecture. You may buy a coin on one platform and sell it on another for a greater price, then return the money and pocket the profit. The smart contract may even check itself by simulating what you've programmed and telling you whether or not what you've coded is actually achievable and the money will be returned to the lender. This practice would be difficult to carry out in traditional finance, but blockchain technology has made it not only conceivable, but also commonplace.   Wrapping up! Smart contracts are the way of the future, and we strongly advise you to familiarize yourself with them because their acceptance and use are already underway. Being proactive with smart contracts might be a great way to go, since you'll be well-versed when they become more widely used. Keep an eye out for them and prepare yourself, since it's only a matter of time until they take over. Source: https://www.forexlive.com/Education/understanding-smart-contracts-20220117/?fbclid=IwAR1DPrqgTALmoaTnuifORDpSqFW4RFgOicya5KwYP2xv5W_XdXQvulgDinA   by: Jerich D. Maasin TPG-CA

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