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Question 1. What do you understand by Token and give an example of at least 5 tokens and identify the blockchain it is built on. ( give at least 3 different Blockchains)

In general terms a token can be referred to as an object that serves as a representation of something or an abstract concept, this definition is not that different in crypto world.

In the crypto world, Token can be defined as crypto currency that represent an asset that is built on an already exiting Blockchain.
Crypto token are often used as a medium for crowd Fundraising. The are created, distributed and sold through initial Coin offering to raise funds for project development. So, tokens operate on blockchains serving as a medium for the development of projects like decentralized applications and smart contracts and tokens can be used to facilitate transaction.

Examples of crypto Token and their Blockchain.

1. DAI Token - Built on the Ethereum Blockchain network.
2. Tether (USDT)- Built on Bitcoin Blockchain and six other Blockchains namely, Ethereum, EOS, Tron, Algorand, SLP and OMG blockchains.
3. Pancakeswap(CAKE)- Built on the Binance smart chain.
4. BitTorrent(BTT) - Runs on the Tron Blockchain.
5. Chainlink(LINK) - Built on Ethereum Blockchain.

Question 2. What is the difference between a token and a coin?

Token	Coin
Token can be use for different purpose like trading, store of value or asset, form of currency	Coins on the other hand are used solely for purpose of payments.
Tokens depend on blockchain as they are built on top of Blockchains	Coin are the native crypto currency of a Blockchain.
Tokens are minted and distributed through initial Coin offering in crowd Fundraising	Distribution of coins is to miners who add transactions to the blockchain and receive coins as rewards.
Several tokens can run on Blockchain because they are easy to creat	Blockchain have just one native crypto currency.

Question 3. Explain the different categories token listed below and explain its features.

Utility tokens

Utility tokens are special type of token that are mostly used by startup to finance new projects. These are tokens investors buy with the aim of using them for future to purchase goods or services from the company or issuer of the token.

In simple terms, utility tokens are issued with a promise of a product or service to investors, that after the successful development of the product or service, investors/ holders of token can then use the token to buy the product or service. Wherefore the name UTILITY.
For example, a company development a new Decentralized application can issue utility tokens to Finance the project, and after the completion of the project the investors who bought the token can then use the Token to access the service of the DApp.

Security tokens.

Security tokens are a special kind of token that are issued during an initial Coin offering to investors granting them a stake on the organization or an asset.
Security token give the holder ownership right in the ecosystem of the issuing company. This token entitles the holder a share of profit in the company. The type of token are just now surging in the crypto world.

Equity tokens.

Equity token are stocks issued by a company wishing to finance a project offering the owners of the token ownership and voting rights over the Blockchain. Equity tokens are more like traditional stock assets. The holder of equity tokens have a claim to the ownership of a investment. Equity tokens are very similar to Security tokens sharing the same protocols. But the slide difference is in the fact that equity tokens possess digital certificate. Equity tokens are mostly in the form of stocks.

Non-fungible token (NFT).

Non Fungible tokens as the name goes are unique tokens that cannot be replaced with something else.
NFTs have experience a huge surge in recent years. I first heard about this type of token just this year over CNN when Julia Chatterley had a interview with Garyvee.
NFT is anything digital like drawings, music but a lot of the focus is on promoting the use of tech to sell digital art. A movie ticket can be view as NFT.
A good example of NFT is the Axie Infinity is a game NFT.

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*** *** > **Question 4. Make your own research and write extensively on any token you listed in question one. (Must include features of the token, the aim of the project, Use cases).**

BitTorrent.

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BitTorrent is a token that runs on the Tron Blockchain network and it is a TRC-10 utility token that powers features of some very popular DApps and protocols in the world.

BitTorrent was Invented by Bran Cohen in 2001 to serve as a peer-to-peer in facilitating transfer of files eliminating the need of a trusted Centralized server. BitTorrent is one of the biggest and common protocol for transferring file over the internet.
It was acquired by Justin sun in 2018. After acquisition, BTT launched on Binance launchpad in early 2019 under Project Atlas. Ever since then, BTT has experienced a soaring growth.

Aim of BitTorrent.

The main purpose of the BitTorrent project is to use BitTorrent one of the worlds largest decentralized system, to improve content sharing through increase bandwidth accessibility from Blockchain technology. Below are the aims of the project

1. Middleman. The project was aimed at acting as a middle man between content creators with other content creators and audience. The BTT serve as means of transaction

2. Increase speed and Bandwidth. It is a known fact that Blockchain technology offers much more advancement in the world. The BTT offers increase bandwidth in the world and a chance for clients to exchange tokens with faster speed in downloading files

3. To increase Blockchain users. Tron acquired BitTorrent in 2018. Before the purchase, BitTorrent had millions of users all over the world. The acquisition of BitTorrent means a collaborative working efforts with BitTorrent Inc and Tron foundation. This will see millions of users of BitTorrent incorporated into the Blockchain technology and Tron.

4. Increase use of crypto currency. The project BitTorrent seeks to increase the use of crypto currency to users of BitTorrent. It is a known fact that crypto currency are transparent and secure. In using BTT for services offered by BitTorrent, clients get the best services and increase the use of crypto currency.

Features of BTT

1. BitTorrent is a Decentralized protocol built on the Tron foundation Blockchain.
2. BitTorrent spee. Offers faster speed in downloading and increase Bandwidth to increase users that can access BitTorrent over the world.
3. The natives token of BitTorrent is BTT.
4. Serves as a payment/transaction medium between content creators and clients.
5. Proof of storage. BTT provides users with opportunity to use BTT to buy Decentralized data storage and will make available on download the data that is being stored.
6. BitTorrent downloader. BitTorrent offers users with different downloading websites.

Fundamental facts.

As at the time of this post, the price of BTT is BTT=$0.004374
Ranked=47
Market capitalisation= $2,891,916,154
24hrs trading volume= $474,595,341

Below is a chart representation of BTT/USDT on Tradingview view.

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Conclusion

As can seen from the lectures, token are a very important part of the crypto technology. Token not only serve as medium of exchange but also store or value, assets and also a crowd Fundraising Methodology used by start up to fund projects.
Token offer vast benefit to users. And we have seen that BitTorrent is a token that operates on the Tron Blockchain network. It is a growing token with much prospects of future growth.

I want to specially thank professor @reminiscence01 for the lectures and especially the assignment. I have spent long hours reading and understanding tokens well.
CC. Professor @reminiscence01