What are the different types of token?

The beginnings of cryptocurrency were humble and Bitcoin was the only one which introduced the peer-to-peer system. However, it wasn’t long before other types of coins were created, such as Ripple or Litecoin. The altcoins reached their peak with the introduction of Ethereum.

Ethereum was the main driving force behind ICOs (Initial Coin Offerings), thus changing the way we perceive coins. The term “token” popped up and it meant that the coins were not only a type of currency anymore. Tokens started flourishing all of a sudden and all of them had a wide range of functions.

Their functions were divided into five different groups which will be described in the following blog post.

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