A token is a digital asset created on a blockchain, often using a smart contract standard such as ERC-20, BEP-20, or SPL.
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Short definition
Token is a token is a digital asset created on a blockchain, often using a smart contract standard such as ERC-20, BEP-20, or SPL.
Simple explanation
Tokens can represent value, utility, governance rights, access, rewards, claims, or other digital units inside a crypto system.
Why it matters
Most crypto apps use tokens for payments, rewards, governance, liquidity, incentives, or ownership representation.
Example context
A project may issue a token on Ethereum as an ERC-20 token, on BNB Chain as a BEP-20 token, or on Solana as an SPL token.