smart contract</strong></a> standard that describes how to create, issue and deploy new <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-token/">tokens based on the underlying <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-blockchain/">blockchain./nWhat is a smart contract standard? </em>In the most basic sense, it outlines the rules that the smart contract must follow in order to actually use the underlying blockchain network. In addition, it outlines the application-level standards for blockchains that are designed for smart contracts and other <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-are-decentralized-applications-dapps/">decentralized applications (<strong>DApps)</strong></strong></a>. </p>\n<p>By setting the standard, a smart contract must follow the standards in order to perform basic activities like token creation and transaction execution. 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Have?","featured_image_id":10729,"status":"published","chapter_id":7,"language":"en","order":2,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-invest-in-crypto","featured_image":{"id":10729,"uuid":"3439a1db-9892-404a-b4b6-a1db5a34bca4","public_url":"https://assets.bitdegree.org/crypto/storage/optimized/how-to-invest-in-crypto-featured-image.jpg","path":"crypto/storage/optimized/how-to-invest-in-crypto-featured-image.jpg","original_path":"crypto/storage/original/how-to-invest-in-crypto-featured-image.jpg","name":"how-to-invest-in-crypto-featured-image.jpg","original_name":"how-to-invest-in-crypto-featured-image.jpg","title":null,"alt":null,"width":1024,"height":576,"disk":"spaces","status":"uploaded","readable_file_size":"75.22KB"},"youtube_video":null},{"slug":"ico-vs-ido","title":"ICO vs IDO vs IEO: Which One is the 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Assets?","featured_image_id":6542,"status":"published","chapter_id":7,"language":"en","order":5,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-get-free-crypto","featured_image":{"id":6542,"uuid":"4fceb9ab-391e-4ef9-b00d-c871a49878a3","public_url":"https://assets.bitdegree.org/crypto/storage/media/how-to-get-free-crypto.o.jpg","path":"crypto/storage/media/how-to-get-free-crypto.o.jpg","original_path":"crypto/storage/media/how-to-get-free-crypto.jpg","name":"how-to-get-free-crypto.o.jpg","original_name":"how-to-get-free-crypto.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"93.93KB"},"youtube_video":null},{"slug":"how-to-arbitrage-crypto","title":"What is Crypto Arbitrage: The Main 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Crypto?","featured_image_id":11394,"status":"published","chapter_id":7,"language":"en","order":7,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-fud","featured_image":{"id":11394,"uuid":"defd32c5-d3e1-4e66-9f58-e2ee316bad3a","public_url":"https://assets.bitdegree.org/crypto/storage/optimized/what-is-fud-featured-image.jpg","path":"crypto/storage/optimized/what-is-fud-featured-image.jpg","original_path":"crypto/storage/original/what-is-fud-featured-image.jpg","name":"what-is-fud-featured-image.jpg","original_name":"what-is-fud-featured-image.jpg","title":null,"alt":null,"width":1024,"height":576,"disk":"spaces","status":"uploaded","readable_file_size":"65.30KB"},"youtube_video":null},{"slug":"investing-in-cryptocurrency","title":"Investing in Cryptocurrency: How to Manage Your 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Crypto?","featured_image_id":6532,"status":"published","chapter_id":7,"language":"en","order":9,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-a-rug-pull-in-crypto","featured_image":{"id":6532,"uuid":"be8043fb-078c-4487-9af9-d2d9c2b574ea","public_url":"https://assets.bitdegree.org/crypto/storage/media/what-is-a-rug-pull-in-crypto.o.jpg","path":"crypto/storage/media/what-is-a-rug-pull-in-crypto.o.jpg","original_path":"crypto/storage/media/what-is-a-rug-pull-in-crypto.jpg","name":"what-is-a-rug-pull-in-crypto.o.jpg","original_name":"what-is-a-rug-pull-in-crypto.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"92.28KB"},"youtube_video":null},{"slug":"how-to-avoid-rug-pulls-in-crypto","title":"How to Spot and Avoid Rug Pulls?","featured_image_id":6555,"status":"published","chapter_id":7,"language":"en","order":10,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-avoid-rug-pulls-in-crypto","featured_image":{"id":6555,"uuid":"80cbed9d-3b4b-45d9-9a85-d2d8108c0f32","public_url":"https://assets.bitdegree.org/crypto/storage/media/how-to-avoid-rug-pulls.o.jpg","path":"crypto/storage/media/how-to-avoid-rug-pulls.o.jpg","original_path":"crypto/storage/media/how-to-avoid-rug-pulls.jpg","name":"how-to-avoid-rug-pulls.o.jpg","original_name":"how-to-avoid-rug-pulls.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"111.99KB"},"youtube_video":null},{"slug":"how-to-avoid-crypto-taxes","title":"The Key Legal Techniques of Avoiding Crypto Taxes","featured_image_id":6526,"status":"published","chapter_id":7,"language":"en","order":11,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-avoid-crypto-taxes","featured_image":{"id":6526,"uuid":"1e44162c-ef1d-4010-81b4-9e8d1809aedf","public_url":"https://assets.bitdegree.org/crypto/storage/media/how-to-avoid-crypto-taxes.o.jpg","path":"crypto/storage/media/how-to-avoid-crypto-taxes.o.jpg","original_path":"crypto/storage/media/how-to-avoid-crypto-taxes.jpg","name":"how-to-avoid-crypto-taxes.o.jpg","original_name":"how-to-avoid-crypto-taxes.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"99.10KB"},"youtube_video":null}]},{"id":8,"title":"Crypto 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About","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":2,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/best-technical-analysis-indicators-for-crypto","featured_image":null,"youtube_video":null},{"slug":"what-is-candlesticks","title":"Technical Analysis: What are Candlesticks, Trendlines, and Patterns?","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":3,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-candlesticks","featured_image":null,"youtube_video":null},{"slug":"how-to-track-new-crypto-coins","title":"Crypto Tracking: How to Track Your Favorite Coins & Tokens?","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":4,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-track-new-crypto-coins","featured_image":null,"youtube_video":null},{"slug":"how-to-research-crypto","title":"Crypto Research Fundamentals & Social Signals: Your Daily Trading Strategy","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":5,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-research-crypto","featured_image":null,"youtube_video":null}]},{"id":9,"title":"Mining","slug":"mining","updated":false,"chapter":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters/learn-crypto-mining.jpg","chapter_simple":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters-simple/crypto-mining-101.jpg","rating":80,"sections":[]},{"id":10,"title":"Crypto Terms","updated":false,"chapter":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters/crypto-101-glossary.jpg","chapter_simple":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters-simple/crypto-glossary-101.jpg","rating":100,"sections":["A","B","C","D","E","F","G","H","I","J","K","L","M","N","O","P","Q","R","S","T","U","V","W","X","Y","Z"]}],"nextSection":{"id":760,"original_id":null,"author_id":42,"translator_id":null,"title":"What is Token Swap?","slug":"what-is-token-swap","section":"T","keyword":"Token Swap","status":"published","definition":"a direct exchange of tokens between users or the migration of tokens from one blockchain to another.","content":"<p>A token swap refers to two things – the direct exchange of tokens between users and the migration of tokens from one blockchain to another.</p>\n<h3>The Direct Exchange</h3>\n<p>On the market, there are numerous exchange services that allow users to purchase and sell cryptocurrencies for <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-fiat/">fiat money</strong></a> or other cryptocurrencies.</p>\n<p>Users who want to trade directly between two crypto tokens are sometimes unable to do so due to the limited <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-liquidity/">liquidity and number of trading pairs available on each exchange. They are obliged to include the intermediary step of changing into and out of fiat money or one of the more popular cryptocurrencies (such as <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/buy-bitcoin-btc/">Bitcoin or <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/buy-ethereum-eth/">Ethereum) rather than making a direct trade.</p>\n<p>Though some exchange services actively address this problem by combining multiple other exchanges and obtaining liquidity from them. <strong>Thus, traders are able to directly swap between two digital currencies without the hassle and double fees</strong> that come with completing a trade in two steps. <a href=https://www.bitdegree.org/"https://en.wikipedia.org/wiki/<strong>ShapeShift</strong>/" target=\"_blank\" rel=\"nofollow noindex noopener\"><strong>ShapeShift</strong></a>, <a href=https://www.bitdegree.org/"https://golden.com/wiki/<strong>AirSwap</strong>-39PM6YP/" target=\"_blank\" rel=\"nofollow noindex noopener\"><strong>AirSwap</strong></a>, and <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-metamask/">MetaMask are a few of the services that allow token swaps.</p>\n<h3>The Migration</h3>\n<p>Users of cryptocurrencies, such as ETH, QTUM, and NEO can create new crypto tokens on top of their blockchains. These second-layer tokens can use the security and popularity of underlying platforms without having to invest time and money into building their own ecosystem from scratch.</p>\n<p>However, in some situations, the platform on which a coin is developed might become insufficient for its current requirements. For instance, a developer might decide to design a token on Ethereum's blockchain to take advantage of its vast user base. Though he/she might later realize that different fundamental characteristics are needed for the actual launch of the product. <strong>In this scenario, a developer could do a token swap, in which he/she would move the token from one blockchain to another while keeping all address balances.</strong></p>","level":"medium","meta_title":"What is Token Swap? Definition & Meaning | Crypto Wiki","meta_description":"Token Swap meaning: Token Swap - a direct exchange of tokens between users or the migration of tokens from one blockchain to another.","meta_keywords":null,"language":"en","created_at":"2022-03-31T13:18:28.000000Z","updated_at":"2022-11-16T12:07:07.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-token-swap"},"prevSection":{"id":758,"original_id":null,"author_id":42,"translator_id":null,"title":"What is Token Issuance?","slug":"what-is-token-issuance","section":"T","keyword":"Token Issuance","status":"published","definition":"the process of producing new tokens and adding them to a cryptocurrency's total token supply.","content":"<p>In the most basic sense, <strong>token issuance</strong> is the process of producing new <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-token/">tokens and adding them to the <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-total-supply/">total token supply</strong></a> of a cryptocurrency. Token issuance is usually governed by complex algorithmic calculations that estimate the number of tokens required for the <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-blockchain/">blockchain ecosystem to operate effectively.</p>\n<p>Token issuance has many forms that depend on <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-cryptocurrency/">cryptocurrency and blockchain. Besides, note that <strong>each cryptocurrency has a different total supply of tokens</strong> that is also calculated using complex algorithmic calculations.</p>\n<p>It's essential for blockchain-based projects and cryptocurrencies to explain how their token issuing process works. For instance, the Bitcoin <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-whitepaper/">whitepaper specifies that there could only ever be <strong>21 million coins</strong>. As a result, once the limit of 21 million tokens is achieved, <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/buy-bitcoin-btc/">Bitcoin will no longer be issued. Though other cryptocurrencies have chosen not to have a supply limit.</p>\n<p>Token issuance can also refer to tokenization, which involves <strong>adding an asset from outside of the cryptocurrency's ecosystem to the blockchain via a crypto token</strong>. In such instances, token issuance becomes the process of establishing a token that represents an external asset rather than one that belongs to a coin.</p>\n<p>To establish agreement across the network of nodes, several consensus techniques use a combination of token issuance and token burning. <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-burning/">Token burning</strong></strong></a> is the polar opposite of token issuance because in this process tokens are destroyed irreversibly. </p>\n<p>The regulations that govern token issuance on various projects assist investors in deciding whether or not to engage in the project. Besides, these regulations might have an effect on the value of crypto assets. When the <strong>blockchain is near to exceeding its maximum supply limit</strong>, cryptocurrencies with a fixed maximum supply often experience price increases.</p>","level":"easy","meta_title":"What is Token Issuance? Definition & Meaning | Crypto Wiki","meta_description":"Token Issuance meaning: Token Issuance - the process of producing new tokens and adding them to a cryptocurrency's total token supply.","meta_keywords":null,"language":"en","created_at":"2022-03-31T12:03:42.000000Z","updated_at":"2022-05-13T14:32:24.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-token-issuance"},"currentChapter":"T","currentSection":"what-is-token-standard","chapterTitle":"T","readingLevel":"easy"},"url":"/crypto/learn/crypto-terms/what-is-token-standard","version":"cdd198d50cbe5c9c21c9329d7c096ffc"}" class="container-fluid d-flex crypto-book p-0"> Crypto Terms: Letter T
What is Token Standard?
Token Standard MEANING:
Token Standard -
a subset of the smart contract standard that is frequently included to explain how to generate, issue, and deploy new tokens.
Let's find out Token Standard meaning, definition in crypto,
what is Token Standard,
and all other detailed facts.
The token standard is a subset of the smart contract standard that describes how to create, issue and deploy new tokens based on the underlying blockchain.
What is a smart contract standard? In the most basic sense, it outlines the rules that the smart contract must follow in order to actually use the underlying blockchain network. In addition, it outlines the application-level standards for blockchains that are designed for smart contracts and other decentralized applications (DApps).
By setting the standard, a smart contract must follow the standards in order to perform basic activities like token creation and transaction execution. The aforementioned token standards, name registries, library or package formats, and much more can all be a part of the smart contract standard.
Smart contract standards are vital in the blockchain network because they effectively specify how to use the network. A strong standard can make communication between different smart contracts within the same blockchain network more efficient.
Ethereum is now the most widely used blockchain for creating smart contracts, and it has built a number of standards to support diverse smart contracts. The Ethereum Request for Comment (ERC) is the most widely used token standard today, with variants such as ERC 1155, ERC-20, ERC-777, ERC-721, and so on.
