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What is Token?

Crypto Glossary Definition

A cryptocurrency that relies on another cryptocurrency (such as Ethereum) in order to operate. A token does not have a blockchain of its own.

Why Token Matters

Tokens are built on top of an existing blockchain (like Ethereum's ERC-20 standard) rather than having their own independent chain, the way Bitcoin or Ethereum's own coin (ETH) do. This is why launching a new token is far faster and cheaper than launching a new blockchain from scratch.

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Related Crypto Terms

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