Homonym: Token (Symbol)
A "token" is a digital asset that represents a unit of value or utility within a specific ecosystem, often built on a blockchain. Tokens can serve various purposes, such as representing ownership, granting access to services, or facilitating transactions. They are commonly associated with cryptocurrencies like Bitcoin or Ethereum, but can also be used in non-fungible tokens (NFTs) to signify unique items.
Tokens can be categorized into two main types: fungible tokens, which are interchangeable and have a consistent value, and non-fungible tokens, which are unique and cannot be exchanged on a one-to-one basis. This versatility makes tokens valuable in various applications, including finance, gaming, and digital art.