đ¨What are Smart Tokens?đ¨
In simple terms, smart tokens are special kinds of tokens that can do more than just transfer value. They also contain rules and information that help them make decisions and execute transactions automatically.
How do Smart Tokens work?
Smart tokens have three layers:
1. The Asset: This is the source of value, like your wallet.
2. Rules: These are set by the token issuer and define who can access the asset, when, and under what conditions.
3. State: This tracks the token's value and updates it according to the rules.
What makes Smart Tokens special?
Smart tokens contain extra information, like who the other party is and what they're paying for. This means that even if someone tries to intercept the payment, they won't get any valuable information.
Example
Imagine you want to buy data from a provider. A smart token can automatically pay the provider at the end of the month, without you needing to do anything. It's like having a personal assistant built into the token!
History
The Bancor protocol created one of the first popular standards for smart tokens in 2017. Their smart tokens could be bought and sold directly through their own smart contracts, without needing an exchange.
In short, smart tokens are intelligent, self-contained tokens that can make decisions and execute transactions automatically, making them a powerful tool in the world of cryptocurrency!
đIf you like our work go to profile vote for us daily to win this creator award. Your generous vote empower us to work more harder, providing you with the best investment advice. They fuel our mission to deliver high-quality content, helping you make informed decisions. Thank you for your support! đ
#BTCâ #Write2Earn! #BinanceLaunchpoolTON #BinanceTurns7 #CryptoMarketMoves
