Crytpo acedemy|Season 3 week 8/home work post for @reminiscence01|Beginner's course/Understanding token by @isha46
Assalam.O.Alaikum!
Greeting stemians:
Hello @reminiscence01 I am new here.Today I am going to attempt my first crypto homework.Today we talk about the understanding of Token.Here are Following questions which I attempt today about the crypto.So first of All I discuss first question here.
(Google)
Question 1:
What do you understand by token and give an example of at least 5 tokens and identify the blockchain it is built on(give at least three different blockchains?
Token:
Crytpo token are a type of cryptocurrency that represents the assets and specific use and resides on their blockchains.In other words we say that token resembling a coin issued for use by a particular group.Token is also a series of bits that circulates on a token ring network.Tokens are also digital assets built on already existing blockchain to represent a utility or service.
Types:
There are five following types of tokens.
- Reward token
- Security token
- Non-fungible token
- Equity token
- Utility token
Examples:
The following examples of tokens are given below:
| Token | Blockchain |
|---|---|
| Klever | Tron |
| Tether | Ethereum |
| Uniswap | Ethereum |
| Everipedia | EOS |
| WINKLink | Tron |
Question 2:
What is the difference between a token and a coin?
| Token | Coin |
|---|---|
| Token have not been own Blockchain they created Blockchain already existing | A coin have been native to their own Blockchain |
| The tokens are not used to purchase coin | On the other side a coin is used to purchase token. |
| The token is specific use in projects ecosystem. | Coins are the currency for selling and buying things. |
| Tokens are easy to create as compare to coin. | While the coins are very difficult to create as compare to token. |
(Google)
Question 3:
Explain the different categories token listed below and explain its features?
Here below we explain the following categories about token Blockchain:
Utility token:
This type of token is special type which is created by users in Blockchain that help in capitalizing or financing project.The creation of the utility token help them to access specific service.Utility tokens gives the holder access over the futur to the company.
Security token:
Security token often connects digital token and traditional tokens.Security token also give us voting right in decision making and also make us eligible to receive dividends from company profit.Security token are contract just like traditional securities.
Equity token:
Equity token are used for claiming or showing ownership.Mainly the equity token is a type of security token.Equity token different from traditional stock in the sense that is recorded on the block chain.
Non-fungible token:
Non fungible token is a unit of data store on digital Blockchain.It I'd used to present different items like photos.It is built in programming like cryptocurrency and bitcoin etc.
Features of a token:
- Token is tradable and is able to exchange with other tokens.
- It is decentralized and built on Blockchain.
- Tokens are used for investment security token.
Question 4:
Make your own research and write extensively on any token you listed in Question 1.
Uniswap:
Uniswap is the decentralised which is used to exchange the currencies.The uniswap was developed by Hayden Adams in 2 November 2018.From this we also earn money and also get commission.According to market cap we see the market of Uniswap.
| Uniswap | Detail |
|---|---|
| Uniswap price | 29.68$ |
| Price change 24h | 0.3109$ |
| 24h low/24h high | 28.55/30.80 |
| Trading volume 24h | 514,488,731.16$ |
| Volume/market cap | 0.02951 |
| Market dominance | 0.88% |
| Market Rank | 11# |
| Total value locked (TVL) | 4,916,187,343$ |
Features of Uniswap:
- Uniswap distinguished itself from other crypto exchange platform.
- Uniswap is protocol on Euthereum for swaping ERC20 tokens.
- Uniswap is able to trade.
- It is also decentralized.
- Uniswap is more flexible and efficient.
Aim of the project:
Uniswap is decentralized market which account for growing share of crytpo currency trading .The main goal is further increase the protocols decentralized by offering end users.
Conclusion:
The users who want to trade,for them the detail of token and coin is necessary.For the Beginner's it is necessary to understand the features,types of coins and token.When we understand these two things then we will make be able of trade easily.The main important things is the difference between coin and token make us more successful about trade.
Hello @isha46 , I’m glad you participated in the 8th week of the Beginner’s class at the Steemit Crypto Academy. Your grades in this task are as follows:
Observations:
This is the only statement tha is understandable in your definition of token. You should try to write in simple terms.
Recommendation / Feedback:
Thank you for participating in this homework task.
Thank you professor for this suggestion.I will try my best to improve this.