A cryptocurrency token is a record or asset on a blockchain that gives the owner the rights to a specified amount of that blockchain’s native digital currency. There are 1000s of cryptocurrency projects which use tokens, Ethereum being the largest. There are different types of tokens created and issued on these various blockchain projects. Some types of tokens include currency tokens, stablecoin tokens, reward tokens, utility tokens, security tokens, community tokens, and asset tokens. The Ethereum blockchain has many different token standards, the first of which was the ERC-20. Recently with the popularity of Non-Fungible Tokens (NFTs), Ethereum released two major NFT token standards,
ERC-721 and ERC-1155, which are Non-Fungible Tokens (NFT) Specifications.
