Ok, so this is my first post here, and I would like to start it with a VIDEO SUMMARY.
Thanks to my need for trying to figure out what’s a crypto token is, I found out Ivan on Tech channel on YouTube, and he showed in his video this forum and the video summary option. So, I decided I should do one here, and maybe continue doing every day, because I found it very informative and useful!
So, the video is called as this thread is!
He talks about Protocol first, calling it the platform within the network where certain things happen. For example, Bitcoin, Ethereum, NEO. even BitTorrent are network protocols.
Afterwards, he says what the technology is! He describes blockchain as a technology on which the protocols are operating. It’s important to note, that those protocols I mentioned above are not based on a single blockchain, but have their own blockchains!
Finally, tokens! These are the means through which the protocol is operating. For example, Ethereum has its own token, which is like a special key that helps to access the DAPPS (decentralized applications making things happen on the Ethereum Protocol). The owners of those tokens have the access to the DAPPS and decision making, that’s why they are valuable!
Personally speaking, I found this video very useful for me on understanding what tokens are and how they work (why they are important). I am by no means promoting his channel, I just wanted to do a video review by myself and see how it goes! By the way, I found him a funny guy, although he gives good value to his subscribers.
So, the link is here, I hope you enjoyed this video review, learnt something from it (as I did from the video), and please let me know somehow, so that I can get more motivated for doing video reviews!