What is the role of the Sphera token ?
The Sphera ecosystem will make use of its token, called the Sphera Token, in a variety of ways. One of the primary uses of the Sphera Token will be as a means of exchange within the Sphera marketplace. Users will be able to use the Sphera Token to purchase NFTs, digital collectibles, and other items within the marketplace.
In addition to its use as a currency, the Sphera Token will also serve as a utility token within the Sphera ecosystem. This means that it will have various functionalities and be used to access certain features or services within the platform. For example, users may need to hold a certain amount of Sphera Tokens in order to participate in prediction markets or access exclusive NFT drops.
The Sphera ecosystem is built on Hedera Hashgraph, a distributed ledger technology that enables fast, secure, and fair transactions. The use of Hedera Hashgraph ensures that the Sphera Token and all transactions within the ecosystem are transparent, efficient, and immutable.
Overall, the Sphera Token plays a central role in the functioning and utility of the Sphera ecosystem. It will serve as a means of exchange, a utility token, and a key component of the underlying technology that powers the platform.
More details about the tokenomics will be shared soon.
Token or Coins?
Coins are a type of digital or virtual currency that uses cryptography for secure financial transactions. Coins are decentralized systems that allow for the creation, transfer, and verification of transactions without the need for a central authority. Examples of coins include Bitcoin, Ethereum, Hedera and Litecoin.
Tokens, on the other hand, are a representation of a particular asset or utility that is built on top of another blockchain. Tokens can be created on top of a variety of blockchains, such as Ethereum, Hedera, Binance Smart Chain, and more.
One key difference between coins and tokens is that coins have their own blockchain, while tokens are built on top of an existing blockchain. Another difference is that coins are primarily used as a means of exchange and store of value, while tokens can serve a wide range of functions beyond just being a form of currency.
For example, tokens can be used to represent ownership in a company, to give holders the right to vote on certain decisions, or to grant access to certain services or products. tokens can also be used for fundraising, through a process called an initial coin offering (ICO).
In summary, coins are digital currencies that use cryptography and operate on their own blockchain, while tokens are digital assets that are built on top of another blockchain and can represent a wide range of assets or utilities.
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