Blockchain tokens are part of the incentive scheme. Some refer to this as crypto-economics where developers combine the power of cryptography and economics to incentivise certain behaviour. The main part of these schemes are the blockchain tokens and there are different types of tokens. The first one was the bitcoin token which is used to pay for transaction fees and discourage spam attacks on the network. It is also used as award mechanism for the miners. The bitcoin token is built-in usage type of token. What other types of tokens exist?
Type of Tokens
- Usage Tokens (Bitcoin, Ether)
- Work Tokens (Augur)
- Intrinsic, Native or Built-in Token (Bitcoin, Ether)
- Application Tokens (all dApps on top of Ethereum)
- Asset-backed Tokens (Digix DAO, Tether)
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