Embrace the future of digital transaction with DigiXHub. We follow two different recognized methods leveraging blockchain technology to implement digital tokens. We help you raise fund for your business with Coloured coins and Ethereum tokens, in turn, letting you enjoy full transparency eliminating the requirement of a third-party.
Simply put, digital tokens are nothing but a depiction of specific assets that are built on blockchain. Token development can be used to represent almost any asset of value which can be traded including basic commodities to cryptocurrencies, and loyalty points.
Token development isn’t rocket science and it is much easier than you can actually think it is. During token development, neither do codes of any certain protocols have to be modified, nor do blockchain have to be built from scratch. Instead, what should be done is to follow a standard template on blockchain (for instance, Waves or Ethereum platforms) to develop your tokens.
Now, you might be wondering what makes the entire process of token development easy. Well, all thanks go to smart contracts and programmable computer codes which self-executes without the requirement of a third-party operator.
Let’s talk about the factors that differentiate altcoins from digital tokens. The important difference lies in the structure as altcoins basically are currencies that have a unique blockchain of their selves whereas token operates atop blockchain – the technology that makes possible the creation of decentralized applications.
The best feature of utility token development is the access that it provides to its native blockchain services or products.
Sometimes, token development facilitates the reorganization of cashflows among a network of users.
Though it might appear that token development merits governance or voting rights adding value to a token, you should still consider weighing the options as it can alter the token value.
Utility coins are nothing but simple user tokens or app coins. As utility tokens offer future access to the products and services of a particular company, and thus the development of utility tokens can be considered an advance payment.
Remember the pre-order that you placed for a video game that was released after a few months? Utility token development is something similar where tokens are developed by startups like digital coupons to provide their customers with future access to services and products that are still in the development phase.
Sometimes, a majority of the people mistakes utility token development as some kind of an investment. However, it isn’t so as tokens are developed based on specific user cases and they don’t represent a company’s share. Nevertheless, they still are profitable as often, the utility token’s value grows in case the product or service is high on demand.
Unlike the previously discusses utility tokens, security tokens are digital assets that gain its value from an external asset. Additionally, security tokens represent ownership which can be traded and thus security token development can be seen as some sort of an investment.
Nevertheless, being tradeable also means security token development should abide by certain governing security laws.
Security token development opens a whole array of application including the ability to represent the shares of a company’s stock as digital assets. Being a recent invention in the crypto world, the development of security tokens are considered a mainstream achievement that almost any industry can adopt.
The development of security tokens involves the use of smart contracts which contains the regulations and legal frameworks that are set by a registered jurisdiction.
The development of security tokens are kept uniform across the many different locales. This indicates that financial specialists across the world can efficiently trade and exchange security tokens.
Security tokens development enables faster execution and eradicates the requirement third parties like agents and organizations. This further offer complete management power to purchasers and dealers.
‘Coloured Coins’ aren’t literally coloured, but they are just a term used to collectively describe all the real-world assets build atop the bitcoin blockchain technology. As the development of bitcoin was originally done to form a currency, the scripting language permits the storage of certain amount of small metadata which can be further used to depict assets. The main uses of coloured coin development include smart property, community money, coupons, digital collectables, and more.
No, Ethereum isn’t just a network. In fact, it is a digital currency system which can also be used for applications development. One of the popular uses of Ethereum Network includes token development which can be further used as dApp tokens or DAO tokens. Complex token development is also made possible on Ethereum Blockchain through smart contracts.
You aren’t alone if you find the working of digital tokens difficult. Though difficult to understand, digital tokens hold perfect monetary value. The development of tokens and your ownership of the tokens happen through a series of procedures which eventually leads to your legit access to these tokens. Again, the digital tokens you own aren’t stored on your computer or any other physical space. Digital tokens are basically concepts to which a particular amount of value is assigned. These concepts can then be transferred to other businesses or people in exchange for commodities.
The age-old currency was built on IOU which is nothing but a simple slip of paper. You could own such currencies by leaving your gold at the goldsmith’s in exchange for having the value of the gold written on an IOU sheet. Then you could purchase any other commodities or goods with this IOU sheet. In case, someone who is now in possession of the IOU sheet wants the gold back, they can do it by paying a visit to the goldsmith.
Digital tokens work exactly the same way but in the digital world without the involvement of physical papers. Digital token development allows individuals to purchase commodities in the real world without having to exchange paper currencies.