A token is a unit of value issued by a project on a blockchain, representing an asset, utility, or right. Unlike native cryptocurrencies of a blockchain, tokens are typically built on existing blockchain protocols using smart contracts. They can function as currencies, governance rights, or access keys within decentralized applications.
Context
The development and utility of ‘tokens’ are central to many blockchain projects, driving innovation in areas like decentralized finance (DeFi), non-fungible tokens (NFTs), and decentralized autonomous organizations (DAOs). Current discourse involves the classification of tokens, their regulatory implications, and the design of novel token functionalities.
Boundless's mainnet launch introduces Proof of Verifiable Work, a novel mechanism that aligns incentives with useful computation, setting a new standard for blockchain scalability.
Heroes of Mavia demonstrates Web3 gaming's capacity for mainstream adoption, integrating NFTs and token incentives within a proven mobile strategy format.
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