Crypto GlossaryToken
Token
It is a unit of value or digital asset that represents a specific asset or utility, commonly used in the context of blockchain and cryptocurrency, and can be traded, stored, and transferred between users. Tokens can be used for a wide range of purposes, such as payment, access to services or products, voting, and more. They can be traded on cryptocurrency exchanges, and their value can fluctuate based on market demand and supply. Also, token holders have the ability to transfer tokens to others, sell them on an exchange, or use them for their intended purposes, such as participating in a decentralized application (dApp) or accessing a specific service.
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