Rahul Dev Kumar
Rahul Dev Kumar
Jan 17, 2023
Utility Tokens play six roles in any decentralised chain, including functionality, value exchange, currency, earnings, tolls, and voting rights. At times these tokens act as a reward system which incentivises users when a specific action is performed. Moreover, their tokens are sometimes the primary criteria for accessing into the blockchain network. Another function of these token is that it gives voting rights to the token holder, which is very useful when the paradigm is DAO based. Tokens in every project have specific applications and use cases. These differ from project to project. At times, the utility is based on the blockchain protocol in which the token is built upon. For example, some blockchain protocols allow easy transactions with low gas fees, and others provide multiple interoperability. These aspects thus encourage customers to purchase tokens. Nonetheless, the central assertion should be on why the particular token is surfaced in the blockchain and how will it solve the purpose required in the project. https://patentbusinesslawyer.com/features-of-utility-tokens-in-blockchain-projects/ #Tokens #Blockchain #Crypto
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