Token Burning: Reasons Why Burning Tokens Is Important

What is Token Burning? Token burning or coin burning is an intentional action taken by the coin’s creators to “burn,” i.e., remove from circulation a specific number from the total available tokens in existence. There are several reasons to burn tokens this way, but generally, the move is for deflationary purposes. What actually happens in a coin burn is that the tokens are algorithmically taken out of circulation by sending the outputs to a public address known as an ‘eater…

Security Tokens vs. Utility Tokens – A Beginner’s Guide

One Platform, Many Functions Blockchain, the pinnacle of decentralized, distributed, and transparent technology, is at its base a Platform. What is a Platform, you ask? A technological sense platform is a nurturing ground for growing and building applications that serve various purposes. Being a platform, blockchain can be used for a variety of purposes. With a general-purpose technology as blockchain, there is no limit to what innovations can be made. One such variety seen in the blockchain projects that come…

The Boom in Deflationary Token – What You Need to Know

The crypto space is rapidly expanding and in-comes different token models with different features leveraging varied mechanisms. Tokens in the crypto space are broadly categorized into either inflationary token or deflationary tokens. An inflationary token employs a unique model where tokens are added to the market after a specified period of time.  A well-demonstrated example of an inflationary token is Bitcoin, which is released at a rate of 12.5 new coins every 10 minutes as a reward to the miners…

The Ultimate Guide to Cryptocurrency Token Standards

New technologies become successful when it finds a perfect balance between traditional systems' values and advantages of new technology. Blockchain has mastered this art, and people are gradually accepting the changes brought about by this developing technology. One of the changes is accountability in the financial system, which contributed to the creation of tokens. Tokens are digital assets, also known as value contracts. A token standard is stored in a smart contract to help manage balances in the wallet. Today,…

Coinomi Review – An Experienced And Trustworthy Companion For A Safer Crypto Adventure

Investing in cryptocurrencies maybe, to a certain extent, an easy task, but taking care of your digital assets is definitely a difficult one. Cryptocurrency wallets are an essential factor in owning and investing in cryptocurrencies of any sort. Most digital currencies have their own official wallet, but third-party wallets gain momentum as they allow you to manage multiple coins at once. However, such wallets will only support a limited number of cryptocurrencies. This article reviews Coinomi, which we believe is…

Understanding the Difference Between Coins and Tokens

The cryptocurrency hype continues into 2021 with an unprecedented boom on major coins such as Bitcoin and Ether. The crypto industry is evolving every day and will seemingly rule the traditional financial world. Despite the known volatility of digital assets like coins and tokens from their introduction, people are still anxious about them and want to try their luck by investing in them. However, one thing that might confuse the new class of investors is the crypto industry terminologies. For…

A Beginner’s Guide to Ethereum (ETH) ERC-20 Tokens

If you’re new in the crypto space, the concept of Ethereum and ERC20 tokens can be quite mind-boggling. Despite being a blockchain such as Bitcoin, Ethereum has numerous capabilities such as supporting the creation of other tokens and enabling decentralized applications (dApps) to be run on it. Ethereum provides the necessary infrastructure required to create tokens, meaning developers don't have to build an entirely new blockchain.  In creating tokens on the Ethereum blockchain, developers may comply with the ERC-20 smart…