What Are Crypto Tokens?
As you learn about crypto, you'll notice that there are different terms used to talk about cryptocurrencies. Sometimes they're called tokens. Other times they're called coins or occasionally altcoins. It may seem like some of these terms are interchangeable, but they actually all refer to different types of cryptocurrency. What are crypto tokens? Crypto tokens are digital assets that are built on another cryptocurrency's blockchain. A blockchain is a digital ledger that stores information in blocks that are linked. This information can be transaction records or full-fledged programs that operate on the blockchain, which are called smart contracts. For example, as a cryptocurrency's transactions are confirmed, they would be grouped into a block, and that block would then be added to the blockchain. Every cryptocurrency is built on a blockchain. If a cryptocurrency doesn't have its own blockchain and instead uses another cryptocurrency's blockchain, then it...