{"id":25094,"date":"2024-01-28T19:00:00","date_gmt":"2024-01-28T18:00:00","guid":{"rendered":"https:\/\/www.11onze.cat\/?p=25094"},"modified":"2025-02-14T12:48:23","modified_gmt":"2025-02-14T11:48:23","slug":"tokens-what-for","status":"publish","type":"post","link":"https:\/\/www.11onze.cat\/en\/magazine\/tokens-what-for\/","title":{"rendered":"Token: what is it and what is it for?"},"content":{"rendered":"
\n
\n\n\n
\n
\n

You’ve probably heard a lot about tokens lately, especially in connection with cryptocurrencies, the blockchain, and the metaverse. But what exactly are they? What are they for? We are already surrounded by tokens in our daily lives, although we are not sufficiently aware of it. N\u00faria Rambla, executive assistant at 11Onze, gives us all the clues.<\/b><\/h3>\n

\u00a0<\/span><\/p>\n

\u2018A token is a token, a symbol, a code. Tokens are objects similar to a currency, but not legal tender,\u2019 Rambla explains. <\/b>This means that they only have value within the market where it has been established that they will be used and only for the purpose for which they have been created. Tokens have been around for many years and the clearest example is casino or fairground tokens, those plastic coins that can only be used to play slot machines or poker or to ride the witch train or bumper cars.<\/span><\/p>\n

And what characterises tokens? \u2018They have no value, they are issued by institutions or private companies, they are made of low-value materials, they have a control system, and they are secure and cannot be counterfeited,\u2019 says the executive assistant. <\/span>In the digital world, tokens use the infrastructure of cryptocurrencies, the so-called blockchain, to circulate. We could say, in fact, that a cryptocurrency is a token, although a token<\/b> is not exactly a cryptocurrency.<\/span><\/p>\n

\u2018<\/span>While a cryptocurrency has its own blockchain, a token always takes advantage of an existing blockchain, so it is cheaper for digital platforms<\/b>\u2019, argues Rambla.<\/span><\/p>\n

In the virtual world, tokens have infinite applications: they can serve as security codes that are validated when we enter a website, as redeemable points in video games, as miles flown by airlines\u2026 In the world of finance, they are also used in the so-called \u2018<\/span>tokenisations<\/b>\u2019, that is, to protect our data when we make online payments, through a code that validates the transaction with total security. And in terms of investments, there are \u2018security tokens\u2019, i.e. investment securities in \u2018tokens\u2019. <\/span>Want to know more? Just watch the video below!<\/b><\/p>\n\n <\/div>\n <\/div>\n <\/div>\n<\/div>\n\n\n

\n
\n
\n
\n
\n
\n
\n \"\"\n