Token

Taxonomy

When people talk about crypto “coins”, what they are really talking about is a token. A token is a voucher that can be exchanged for something of value. Within the context of a blockchain, tokens are the units of account on a blockchain and are representative of a cryptoasset. Some blockchain tokens are designed as abstract units of value that are represented as “coins”. Other blockchain based tokens are directly exchangeable for more tangible forms of value such as digital storage, computing power, or a bushel of bananas. Any type of value can be represented as a token.