Steemit Crypto Academy Season 3 Week 8| Understanding of Tokens| @shahab1998

HELLO STEEMIT members, I hope you all are fine and doing well, so this is my homework given by the honorable professor @reminiscence01 , First of all, thank you so much, professor.

Crypto academy professors are doing their utmost to help steemit users learn about a variety of topics by sharing their expertise and information in order to help them make better use of this environment and helping us to not only learn but also enhance our skills here.

My Name is Shahab Khan ( @shahab1998 ) and this is my homework post of great Professor @reminiscence01

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Question 01: What do you understand by Token and give an example of at least 5 tokens and identify the blockchain it is built on.

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TOKENS:

First, let's talk about Tokens, Basically, they are a sort of coin that sits on cryptocurrencies and symbolizes assets and particular uses. Like a token imitating a currency issued for the purpose of a target, the segment is referred to as a token. On a token ring network, a token is also a series of bits that passes. In its most basic form, a token is just a commodity, a digital one in the form of deposits, that lives on top of an already established blockchain. Apart from a crypto currency, a token is developed on top of an existing coin and does not have its own unique blockchain.

Basically, a type of virtual money created in the current public blockchain is referred to as a token in the crypto currency system. U, unlike currencies, these tokens do not have had their own blockchain. These are disseminated through initial coin offerings, in which a shareholder's investment is designated for a certain use on the crypto.

TOKEN TYPES:

Security token
Utility token
Non-fungible token
Equity token

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QUESTION 02: WHAT IS DIFF BETWEEN COINS AND THE TOKENS?

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DIFFERENCE BETWEEN TOKENS AND COINS:

Tokens are issued for a specific project and can be formed on an existing blockchain, whereas coins are linked to a public and open blockchain that anybody can join. Bitcoin, Ethereum, and Litecoin, for example, are currencies, but CAKE, UNI, and WIN are tokens. Coins are made solely for the purpose of serving as cash, whereas tokens are made for purposes such as saving in such a way to get better and large profit when the crypto market goes up. That's why there is a big difference between these two Tokens and coins.

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Question 03: Explain the different categories token listed below and explain it’s features.

•utility tokens
•security tokens
•Equity tokens
•Non-fungible tokens(NFT)

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SECURITY TOKENS:

The most commonly used these these security tokens fordigitally tokenized security. Tokenized securities, such as equity, debt, or a combination of the two, can be used to secure a network. The Bitcoin network is the most widely used solution for developing security tokens.

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UTLITIY TOKENS:

Utility tokens are not created as traditional currency, but rather as the privilege to use or offer digital access to an application, services, or items. Utility tokens provide users control over a firm's growth usefulness, which might be a resource .

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EQUITY TOKENS:

Equity tokens, like security tokens, are similar to current commodities. They're designed to function as a share in the virtual environment. Equity tokens are saved or hold by people who have rights to the property in the company and are subject to earnings.

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NON FUNGIABLE TOKENS:

NFTs, or non-fungible tokens, are publicly certified using blockchain based, and serve as a hallmark certifying who owns it and that it is an original work. it was one and can't be replaced, exactly like a sculpture or a moment or a postcard. It's one-of-a-kind and has a distinguishing feature.

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QUES 04: Make your own research and write extensively on any token you listed in question one

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AVE

So i am selecting AVe, Ave is basically built on Eth and is Ethereum based blockchain and enables its customers to lend various sort of coins or tokens. AVE token has a twenty four hour trade volume of 675500700 dollar and its price is 420 dollar. Market capital of Ave is also very highw which is 5,408,167,559 dollars and its maximum supply is one crore sixty lacs which is very high and circulating supply of ave is 1300000 and market rank of ave is 27-28 it kept change.

FEATURES OF AVE:

• Borrowers on the platform have the option of switching between tangible and intangible lending rates.

• Another main feature is its market capital which is very high which is 5,408,167,559 dollars.

• Another attacting feature is that it allows users to rent and loan from a selection of approximately 20 different cryptocurrencies.

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CONCLUSION:

Professor @reminiscence01 Thank you so much for this wonderful and informative lecture. In this lecture, we talked about tokens basically tokens are are a sort of coin that sits on cryptocurrencies and symbolizes assets and particular uses. Like a token imitating a currency issued for the purpose of a target, the segment is referred to as a token. On a token ring network, a token is also a series of bits that passes. In its most basic form, a token is just a commodity, a digital one in the form of deposits, that lives on top of an already established blockchain. Apart from a crypto currency, a token is developed on top of an existing coin and does not have its own unique blockchain and also discusses token types and its difference with coins.

That's all, This is my homework professor @reminiscence01 I hope you like it, and once again professor thank you so much for this informative lecture, This post is totally plag free.

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