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Frequently Asked Questions

Frequently Asked Questions

  • What is the difference between Bitcoin (coin) and Ethereum (tokens)?
    • Independent blockchain network

    Coins refer to cryptocurrencies built on their independent blockchain network. The most famous example is Bitcoin (BTC), which is also the world’s largest cryptocurrency by market capitalization.

    • Decentralized Finance

    Tokens refer to cryptocurrencies that don’t have a blockchain network of their own. Instead, these cryptocurrencies are built on another blockchain. Users can create digital tokens using one of the many platforms in the DeFi (Decentralized Finance) ecosystem.

  • Why choose us?

    Some of our members have been involved in Blockchain for over a decade now. We provide everything you need to launch a coin successfully.

  • What makes Blockchain useful?

    A blockchain is essentially a digital ledger of transactions that is duplicated and distributed across the entire network of computer systems on the blockchain. Blockchain is a type of DLT in which transactions are recorded with an immutable cryptographic signature called a hash.

  • What is a smart contract?

    Smart contracts are self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code.

  • What is a white paper?

    A document released by a crypto project that gives investors technical information about its concept, and a roadmap for how it plans to grow and succeed.

  • What is a utility token?

    A utility token, or utility token, is a special type of token that helps in capitalizing or financing projects for startups, companies, or project development groups. A type of token called a utility token, used as a safeguard for participation in mass sales to raise capital on a project.

  • What is an exchange?

    A cryptocurrency exchange is a digital marketplace which enables buyers and sellers to trade cryptocurrencies or other digital assets for fiat money or other cryptocurrencies. The exchange plays the role of an intermediary between the buyer and the seller.

  • What Is Staking?

    Participation in a proof-of-stake (PoS) system to put your tokens in to serve as a validator to the blockchain and receive rewards.

  • What is a meme coin?

    Meme coins are cryptocurrencies that have gained popularity in a short amount of time, usually as a result of influencers and retail investors promoting them online. Dogecoin is the original meme coin: It was created as a joke based on a meme back in 2013.

  • What is an NFT?

    NFT stands for non-fungible token – a digital token that's a type of cryptocurrency, much like Bitcoin or Ethereum. But unlike a standard coin in the Bitcoin blockchain, an NFT is unique and can't be exchanged like-for-like (hence, non-fungible).

  • What Is a Token?
    • Tokens and altcoins are subsets of cryptocurrencies.
    • Tokens are a type of cryptocurrency that are used as a specific asset or represent a particular use on the blockchain.
    • Tokens can have multiple purposes. The two most common types are security and utility tokens.
    • Security tokens operate in a similar way to shares. This is since their value is determined by a tradable external asset.
    • Utility tokens enable users access to products or services provided by a platform.
    • One stark difference between security and utility tokens is the degree of regulation between both.
    • Utility tokens may not be subject to the same degree of regulations that security tokens can be.
    • Failure for a firm to abide by rules can often lead to harsh penalties for a firm that has issued security tokens.
    • A blockchain startup can issue tokens to give its buyers certain privileges and access to certain products and services in the future.
    • While not all ICOs have been successful, some optimists argue ICOs could replace traditional initial public offerings.
    • Such a move could see cryptocurrency tokens swell further in popularity.
  • What are tokenomics?

    Tokenomics is the study of how cryptocurrencies work within the broader ecosystem. This includes such things like token distribution as well as how they can be used to incentivize positive behaviour in the network.

  • What Is a Roadmap?

    When discussing a roadmap, you are referring to a strategic plan which defines the goal or desired outcome and includes the major steps or milestones that are required for said goal to be reached. A roadmap also serves as a communication tool, a high-level document which helps keep track of the articulated strategic thinking behind the goal as well as the plan to get there.

    A roadmap is a high-level visual summary that helps map out the vision as well as the direction of a specific product offering throughout a pre-specified time period. This roadmap communicates the why as well as the what behind what you are building, and it is a guiding strategic document as well as a plan for executing the product strategy.

  • What Is BEP-20?

    BEP-20 is a Binance Smart Chain token standard created with the intention of extending ERC-20, which is one of the most common Ethereum token standards out there. BEP-20 is a blueprint as to how a token can be spent, who can spend it, and it even has rules about its overall usage.

  • What is ERC-20?

    ERC-20 tokens are based on the Ethereum blockchain. Just like mainstream cryptocurrencies such as Bitcoin, they can be used to make purchases — or traded for fiat currencies and crypto.

    These assets, which usually have a fixed supply, can be stored in a dedicated Ethereum wallet. A wide range of ERC-20 tokens were created in 2017 and 2018 during the boom of initial coin offerings. They usually form the backbone of decentralized apps, otherwise known as DApps for short.

  • What Is ERC-721?
    • ERC-721 refers to a token standard that can be found on the Ethereum blockchain.
    • The more common term used to refer to these assets is non-fungible tokens — an asset class that exploded in popularity in late 2020 and early 2021.
    • Non-fungible tokens (or NFTs for short) refer to tokens that have unique characteristics, setting them apart from other tokens.
    • A $10 note is an example of something that is fungible. If you lend one of these banknotes to a friend, you don’t need to receive the exact same one back as they are all identical.
    • ERC-721 tokens help bring this concept to the blockchain, ensuring that distinctive details about an asset can be immortalized. NFTs can be used to provide digital representation of a one-of-a-kind artwork, with ownership that is easily proved through blockchain records. This can help clamp down on counterfeiting.