Bitcoin is the first token. A token is a cryptographic digital rights certificate with circulating value based on a certain consensus within a community. The concept of tokens emerged with the advent of blockchain technology. The previous translation of Token was '令牌' (lingpai), originating from the field of computer science, referring to an object of rights to perform certain operations. For example, in a local area network classification, there is a type called token ring network, where each node in the network takes turns passing a token; only the node that seizes the token can initiate communication, thus resolving conflict detection in computer network communication through this mechanism. Additionally, at the operating system level, there is an access token, which the operating system uses to control which secure objects a user can access and to control the user's ability to perform corresponding actions. These are some of the earliest application scenarios of tokens and represent that, in the initial computer field, tokens essentially represent a form of rights.