Ethereum Tokens

Ethereum tokens make it possible to buy, trade, and sell different types of assets on a blockchain. Contact skalex if you or your business are interested in implementing Ethereum tokens.

What Are Ethereum Tokens

Ethereum tokens are units of digital currency that exist on the Ethereum blockchain. They can represent all sorts of value: customer reward points, IOUs, and video game currencies can all be represented as Ethereum tokens, along with more traditional forms of finance.

This are not the first form of digital currency capable of representing non-financial value. Similar programs have been developed that work by adding unique metadata to Bitcoin transactions, marking them as non-Bitcoin assets.

But unlike Bitcoin, the Ethereum blockchain supports a wide range of decentralized applications — giving Ethereum tokens an advantage over other digital tokens. For example, Ethereum is designed to support smart contracts. In fact, because it can function as a virtual machine, Ethereum is capable of running any type of application.

Time and Cost Efficiency

Ethereum tokens are easy and cost-efficient to make. In under ten minutes, they can be created using the platform’s free and open-source smart contract development tools. And you don’t have to build a wallet: the easy-to-use official Ethereum wallet is able to hold, send and receive Ethereum tokens of any kind.

Secure and interoperable

Decentralization helps to make Ethereum secure. Because the record of transactions on a blockchain is distributed among its members, it is also highly tamper-resistant. Any attempts at fraud or manipulation can easily be detected.

Another great feature of Ethereum tokens is interoperability via APIs (application programming interfaces). This allows Ethereum applications to easily sync with other systems.