All you need to know about simple tokens

Hello. 👋🏻 In this post, we will tell you everything you need to know about simple tokens.

📌 What are Simple Tokens?

Simple Token is a protocol designed to support the core applications built on Ethereum. Simple Token enables all types of businesses to tokenize their assets.

📌 How to use Simple Tokens?

These tokens are useful because they can be transferred very quickly and cheaply compared to conventional ERC-20 tokens, which makes them ideal for microtransactions.

Companies can use their own tokens to reward and motivate customers with minimal programming skills on the blockchain.

Simple tokens are compatible with almost all Ethereum wallets. Knowing the features of the functioning of the system, you can buy tokens, which in the near future will bring significant profits. But even if the initial investment is small, preparation for investing and studying the entire system of token work is important.

📌 Simple Tokens в PYRK

✔️ Pyrk Tokens are a simple token system for creating tokenized assets on the blockchain. This is similar to the SLP (Simple Ledger Protocol) used by Bitcoin Cash and based loosely on the Colored Coins protocol.

✔️ Pyrk tokens are user created tokens. The supply of a token is completely controlled by the end user and no interaction with Pyrk core mining other than confirming the blocks that these transactions are contained in.

✔️ We will employ a Tokennode network to assist in maintaining consensus for Tokens. Users may use their own Tokennodes if they do not wish to use the publicly available nodes. This specification is “loosely” based on the Colored Coins protocol.

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