Ethereum is a platform with its own blockchain, and in some way has its own (ether), Ethereum is similar to bitcoin in terms of being a blockchain, but in a bitcoin platform, it calls its specific bitcoin currency. Be.
The word “token” in the word means any approved exchangeable commodity such as currency, loyalty, gold remittances, computer game items, and so on.
A token is not limited to a specific platform. Token indicates that you have a tradable asset.
In the digital currency field, the Ethereum platform is currently used to store and deliver ICO tokens. In other words, in a project that will be implemented on the China Block, the developers of that project will build the tokens specific to the project by which they can work on the project.
Status, for example, is a decentralized messaging software that allows you to chat or transmit Ethereum without intermediaries. This platform also provides sales and marketing and is used to sell SNT tokens, so if anyone wants to buy a product from someone in this software, they must buy token and use it.
This way tokens become valuable and can be bought and sold.
Due to the ability of Ethereum to implement smart contracts, decentralized projects use this platform to register tokens. Smart contracts can be programmed to process tokens … For example, you can create a token for each song.
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