Embrace the Magic of Tolkien: Where Every Fandom Finds a Fellowship
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Token Trivia
What does the term "Token" typically refer to in the context of blockchain technology? (Medium)
#1: A digital collectible
#2: A piece of physical currency
#3: A unit of value or asset on a blockchain
#4: A type of tax document
What is the primary purpose of a utility token in a blockchain ecosystem? (Medium)
#1: To serve as a digital currency for transactions
#2: To provide access to a product or service
#3: To represent ownership of a physical asset
#4: To act as a governance tool for voting
0/0 Correct
Token Fun Facts
Token is a term that can refer to various things, including cryptocurrencies, game items, or even a physical object representing something else, often used for access or as a form of currency in digital economies.
In the context of cryptocurrency, tokens can be categorized into two main types: utility tokens, which provide users access to a product or service, and security tokens, which represent ownership in an underlying asset or company.
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