What are protocol tokens?

Instead of key metrics, he assigns each Protocol Token a single NAICS classification that reflects the specific industry of its main economic activity. Protocol Tokens are the second of the two main categories that structure the four types of crypto assets. Put simply, Protocol Tokens are a bit like vouchers.

What is a native token?

A native token or protocol token is used as “the carrot and stick” to drive behavior. Active participation in the protocol may be optional, however, the process that is driven affects the entire network (in the context of a proof-of-work blockchain: miners are responsible for securing the entire network,...

What are protocol coins?

What Are Protocol Coins? Protocol coins or tokens are cryptographic tokens that are required to access the service that the underlying protocol provides. Usually, apps or DApps are created on these protocols, just like you have decentralized applications/exchanges built on Ethereum (e.g., Augur, EtherDelta, etc.)

How does the access token work?

3. Token validation: The user receives the token code and enters it into the resource server to grant access to the network. The access token has a validity of 30-60 seconds and if the user fails to apply it can request the Refresh token from the authentication server.