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Why do we need tokens in blockchain technology?

ConversationBlockchain+1
Olga Zeveleva
  ·   · 781
University of Cambridge PhD researcher, Computer...  · 9 янв 2018

Tokens are used very differently in different cryptocurrencies.

Here is a real-world example: if I give you a pound coin, it is a token. We just call it a pound because that is the currency used in the UK. Some currency authors, to avoid confusion with currencies, will use the word “token” instead of “coin”. It’s just a medium of exchange.

What tokens mean for the blockchain depends on the system you are using them in. If it’s a currency, then it’s a coin that is traded. If it’s something like an energy trading scheme, then it could be something like a kilowatt hour of energy. So you need tokens to exchange information between parties.