Tokens

Asger Balle Pedersen

Chapter 51 in Elgar Encyclopedia of Cryptocurrencies, Blockchain and DLT, 2026, pp 246-249 from Edward Elgar Publishing

Abstract: The next generation of tokens, from their early physical forms to digital and now to crypto tokens, reflects a novel socio-technical change based on the underlying ecosystems, allowing a reciprocal relationship between crypto tokens and the token system to emerge. We define a token (including a sign or symbol) as an object through which information is recorded. Henceforth, we define crypto tokens as digital tokens bound and situated within a cryptographically secured distributed ledger technology (DLT) system, which builds the foundation for the token economy (tokenomics). As such, crypto tokens and ecosystems enable value creation and capture by guaranteeing digital ownership, allowing transferability and supporting representation within the DLT system.

Keywords: Token; Token types; Tokenomics; Token value; Value generation; Interoperability (search for similar items in EconPapers)
Date: 2026
ISBN: 9781035339952
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