Un­der­stand­ing the Crazy World of To­kens

Distinguished Magazine - - CONTENTS - KOEL CHATTERJEEE

Based on the un­der­ly­ing tech­nol­ogy of Bit­coin, that is dig­i­tal peer-to-peer val­u­a­tion, to­kens have raised an enor­mous amount of money which runs into tens of bil­lions. Since the last cou­ple of years, there has been a huge up­roar about blockchain tech­nol­ogy and the new method of trans­ac­tions and val­u­a­tion, cryp­tocur­ren­cies. These rev­o­lu­tion­ary trans­for­ma­tions in the dig­i­tal cur­rency in­fra­struc­ture have given birth to a com­pletely new model of dig­i­tal as­sets - to­kens. Based on the un­der­ly­ing tech­nol­ogy of Bit­coin, that is dig­i­tal peer-to-peer val­u­a­tion, to­kens have raised an enor­mous amount of money which runs into tens of bil­lions. While men are aware of the im­pact these tech­nolo­gies have had, the con­cepts still seem quite fuzzy for the non-tech­ni­cal minds. Hence, the ba­sic con­cepts re­lated to to­kens have been sur­mised here.

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