A token is a digital asset that is used for trading either physical or virtual assets. Depicting a set of rules in a smart contract, each token is owned by a specific Blockchain address. The Token Development Services offer Crypto Tokens that facilitate collaboration across markets and jurisdictions enabling transparent, efficient, and fair interactions in the physical, virtual, and legal world.

The Token Development Services comprise of converting the confidential data into nonsensitive data termed “Tokens”, which is used by the internal system without revealing the actual information is called Tokenization. With no mathematical relationship between the tokens and the original information, the tokenized data is irreversible.

Before availing the Token Development Services, it is important to understand the difference between Cryptocurrency and a Token.

The thin line of differentiation between Cryptocurrencies and Tokens is cryptocurrencies are built on their own Blockchain Network while tokens are digital assets that are developed on an existing Blockchain Network. 

Cryptocurrency depicts the newest form of digital money whereas the tokens are used to represent a digital asset or a utility.

Depicting the set of rules, encoded in a smart contract, the tokens are accessible with a dedicated digital wallet that manages the public-private key pair for a specific Blockchain address. The user with the private key to the blockchain address is only allowed to access the respective token. The user signs the private key to initiate the trading of tokens, thereby creating a digital signature of the owner of the token. The token development companies offer efficient token development services for secure trading.

• Utility Tokens:  Depicting the characteristics of a classic cryptocurrency like Bitcoin, these tokens offered by Token Development Companies help to capitalize or finance projects for startups, companies, or project development groups.  

• Security Tokens: Acting as a digital stock certificate, the security tokens are the digital or liquid contracts that preserve the ownership right for a particular digital asset like real estate, a car, or corporate stock on a Blockchain ledger. 

• Currency Token:  Referred to as Classic Cryptocurrency like Bitcoin, these tokens created by Token Development Companies can be spent on a variety of daily transactions in the real world offering the best alternative to fiat currency. 

• Reward Token: Designed to become more scarce over a period, the Reward token is initially conceived as a way to offer rewards to people using a particular platform’s cryptocurrency. 

Asset Token: The asset-backed tokens depict the digital claims on the physical assets reducing the need to head out in the traditional market to buy a share of the real-world asset.