Types of Crypto Tokens and their Token Standards

[Eva_gabriel]

With the increased adoption of blockchain, the use of crypto tokens is also expanding day by day. Generally, crypto tokens are the category of cryptocurrency that represents the digital asset or any specific use. The main difference between coin and token is that it was built with the help of other existing blockchains such as Ethereum, Tron, and Binance smart chain. A startup can issue their newly created crypto tokens when they launch any crypto crowdfunding platforms such as ICO, STO, etc. Before that let me explain the types of crypto tokens and token standards.

Based on the usage, crypto tokens are categorized into two types that are Fungible tokens and Non-fungible tokens. 

Fungible tokens comprise the fungibility property which means these types of cryptographic tokens are identical or uniform. Mainly it can be interchanged with another type of fungible tokens without any trouble. Also, fungible tokens can be divisible too. The most popular fungible token standards among budding startups and entrepreneurs are ERC20, TRC20, and BEP20. 

Whereas, non-fungible tokens are a special type of virtual tokens. They represent any unique type of art, music, collectible, video, etc. Unlike fungible tokens, non-fungible tokens have no standard value that's why they cannot be split up or exchanged by the same type of another non-fungible token. So it is completely a non-interchangeable token. ERC721, ERC1155, TRC721, and BEP721 are the best suitable token standards for the creation and development of non-fungible tokens. 

Hope I have shared some vital information about fungible and non-fungible tokens. Before creating a crypto token, one should need to choose the popular blockchain and its token standard

If you are planning to create your crypto tokens, then choose the best Crypto Token Development service provider. This is the perfect choice where you can create your crypto token with unique features. I would like to recommend ICOCLONE - They are genuine crypto token development service providers in the crypto industry. They have talented developers to develop your crypto tokens on desired token standards at an affordable cost. 

 

 

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