Cryptocurrencies and Tokens
Which is? How it works? What are your advantages?
Cryptocurrencies are digital currencies, which may or may not be centralized, that is, they may or may not be controlled by a specific body or country. They are created on a network called blockchain, which is responsible for securely storing various information, such as financial transactions, records and personal data of participants in this type of activity. Each cryptocurrency has a different value, which can be converted to other currencies, such as the dollar or real, for example. Therefore, cryptocurrencies can be used as an exchange currency for the purchase of products, goods and services.
Initially, cryptocurrencies were intended to serve as a form of payment for miners on the blockchain network, however, over the years and the constant technological development they have acted as a means of exchange, and more recently they have been used as alternatives for investments, since that many people have seen that they can become a good store of value. Today, many companies accept cryptocurrencies as payment and each day it has gained more followers around the world.
In addition to cryptocurrencies, there are other types of crypto assets, such as tokens. In the literal translation of the word, token means token. Tokens work as symbols of value representation, just like the chips used in card games, for example. However, tokens do not just represent monetary values, they can also represent, in a digital way, goods and financial assets such as, for example, shares, commodities, or even fractions of a property, or work of art. The word Token has come to be used in the cryptocurrency market to refer to digital assets that run on the blockchain of other cryptocurrencies, such as ETH is an Ethereum Token, and BNB is a Binance Token. Utility tokens are tokens that offer some utility to their users, such as a discount on a specific product or exclusive services. In the case of Allky Token, it can be used to pay for various services on the platform, in addition to users being rewarded with the Token itself.
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