Use Cases of Crypto Tokens
Crypto tokens have multiple use case. Keep on reading to get a sense of how you can design your own token.
Research and Development (R&D) is required to determine the optimal use case particularly for a Web3 project. This can make or break your business … the proverbial fly wheel that makes a business go round and round ….
Cryptocurrency vs Crypto Token
Base layer blockchains (called Layer 1 blockchains) have coins to be used for services into their ecosystem. The Ethereum blockchain has its own cryptocurrency (or coin) called ETH. These base layer blockchains provide a foundation on top of which applications can be built by anyone. These applications can issue their own token – so think of tokens as a unit of value for a business that exists on a blockchain.