Last week we announced the launch of B2M, 🙌 our own utility token that runs natively on blockchain on the Ethereum network, following the ERC-20 standard. But do you really know what this means? 👀
For all of you who are a bit confused about this topic, we are going to explain it point by point, ready? Here we go! 📖
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What Is a Token?
Before going into deeper technical details, we believe it is important to start with the most basic concept: What is a token?. Tokens are one of the most essential creations of blockchain technology and cryptocurrencies. They have no legal tender value and are issued by a private entity.
Having explained what a token is, let’s move on to the next step: What types of tokens are there? Right now, there are three main token types: security, equity, and utility tokens, the latter being the one that defines our B2M token. This type of token helps to capitalize or finance projects, and that is precisely our goal, 🎯 to raise funds to expand in the European Union, Asia, Latin America, and Africa, as well as to grow as a brand and invest in personnel for the internal and technological growth of the company.
That said, only one concept remains to be clarified: What is an ERC-20 token? It is nothing more than a smart contract with a pre-established data structure implemented in the Ethereum network. ERC-20 tokens are a multi-capacity system that reduces programming complexity, provides greater security and supports multiple programming languages, among other features.
Learn More About Tokens
Did you enjoy learning about the B2M token? If you want to know more, we recommend you take our FREE certified course on Tokenization, NFTs and ICOs to learn much more about tokens, as well as buying, selling and saving in cryptocurrencies.