Token
In short
A token is an asset living on someone else's blockchain — usually via smart contract on Ethereum and co. Coins have their own chain; tokens rent space.
Tokens can represent anything: shares, voting rights, game items, dollars (stablecoins). Creation takes minutes — hence millions exist, and very few have substance.
What is ERC-20?
Ethereum's standard for fungible tokens — thanks to it, thousands of tokens work in the same wallets and exchanges.
Related terms
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