Cryptocurrency Categories: Part 2

Having looked at the various categories of cryptocurrency coins last week, it’s now time to explore the world of tokens. This is where things can get a little out of hand. 

 

Ever since Ethereum came along and made creating a crypto token an easy thing to do, the number of different tokens in existence has skyrocketed. Many are worthless, many are scams and many - however well-intentioned - will come to nothing. But, despite that, some of the biggest cryptocurrencies out there exist as tokens, running on blockchains such as Ethereum and its growing number of competitors. Tokens cannot therefore be dismissed out of hand.

 

So, in this episode we explore some of the different categories of token and what purposes they serve. Some, such as stablecoins and memecoins, we’ve met before. Others may be less familiar. And yes, we’ll take a look at a few with stupid names as well.

 

Knowing which category a cryptocurrency coin or token fits into is a great starting point for further research, as it can help immediately establish whether the project in question might have merit, or whether it’s one great big waste of time. And, as we all know, time is most definitely a finite resource.

 

We hope you enjoy the show.

 

Producer for iHeart Media: Noel Brown

Editor: Sam Moult

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