With so many tokens in the cryptocurrency market, it's important to know which token I'm investing in. Although the concept is still unfamiliar, cryptocurrency can be classified into three types.
- Payment token
Payment tokens include bitcoins and light coins, which are used as payment methods to buy things. On May 18, 2010, a person named Laszlo posted that he was buying a pizza with a bitcoin.
The content of the article was to buy two large pizza at 10,000 bitcoins. In response, one person said he wanted to make a deal, and the process was like this one guy called the delivery service and paid for it and sent two pizzas, Laszlo would send a bitcoin to the guy.
People couldn't use Bitcoin directly at the time, so we made payments using this cumbersome method. But it was the first time that something was traded using crypto money, regardless of the transaction process, so investors are calling it pizza day. Bitcoin, has become the leading cryptocurrency of the payment method.
- Utility token
Utilities are literally useful tokens. A token designed to provide consumers with access to various services in a dapps as a means of paying for decentralized computation, compensation to producers, and payment to consumers for consumption. The majority of cryptocurrency are utility tokens. The Bryllite coin belongs to the utility token. BRC is used as paid coin in game and connects the game with real assets.
- Security Token
Security token have a property of securities that increases in value as the token value grows and are similar to the occurrence of financial revenues. So far, there are no relevant laws, such as the imposition of taxes, but in essence they have a similar structure to stocks and receive revenue in the form of dividends. Today, Security Token is being issued indiscriminately because there are no relevant laws, and it is being advertised with a very high rate of return. Many investors are affected by these unregulated security tokens, regulators in each country are aware of the problem and are busy working on legislation of them.
The Bryllite Coin is basically a utility token, but many game companies will later use the platform, and it can also be expanded to payment token if Bryllite gets more user. To make a Bryllite coin that can be used to purchase items offline, the Brillite team is working hard.