Tokens are a representation of a digital asset or utility that can be traded on the blockchain. Tokens can represent any fungible tradable good: coins, loyalty points, in-game items, and so on. Tokens are created for two main purposes: to act as a representation of something else (like fiat currency or gold) or to power an application or protocol.
A token is created through one of three ways:
- The company creates the token themselves and sells it to the public in an ICO (initial coin offering).
- The company creates a smart contract that holds digital assets like tokens and sell those tokens to the public in an ICO (initial coin offering).
- The company issues shares of their company using a token as the share certificate on blockchain technology.
We at LBM Blockchain Solutions examine the market execution of numerous Cryptos and benefit the users with Token Development Services offering dynamic features like Substitutability, Tradability, and Adaptivity. These are the components that enumerate for the capable performance of any Cryptocurrency Token in current trends.