Types of digital tokens

 Tokens are widely used in different areas, but in the world of finance they are used to designate the “substitute for money”. This definition is perfectly to explain what digital tokens are. Bitcoin and other cryptocurrency systems use such electronic tokens to implement three types of tasks: loans, sale of stock and monetization.additional serviceFor network users.

  • the user initiates the ERC20 token transfer process;
  • the smart contract sends a directive to change the owner of the specified number of tokens;
  • the sender’s balance decreases, and the recipient is replenished by the same amount.

Comments

Popular posts from this blog

The Stellar Consensus Protocol: Enabling Secure and Decentralized Transactions on the Stellar Network

Solana Proof of History: Enhancing Blockchain Scalability and Security

What can we do with DeFi?