Cryptocurrency is the way to establish a B2B network, now what is a B2B network/ B2B network is nothing but it is a direct connection from the seller to buyer, with no need for middlemen or third-party intervention.
How does cryptocurrency ensure to provide a B2B network? It simply decentralized the system, issued a public ledger with automatic updates about transactions and made use of a peer-to-peer network.
What is the common name of Cryptocurrencies?
The common name of Cryptocurrencies is Bitcoin, Dogecoin, Ripple and Ethereum, etc. These whole coins are used in daily transactions and help people to do better online transactions with security.
Cryptocurrency Vs Crypto Asset
Now, what is Cryptoasset? Is it something different or similar to cryptocurrency, if yes! Then how and if not then how? We will be touching on the entire aspects and details about the Cryptoasset in our article, so stay tuned with us, check FBC14-Algorithm.com and keep reading this interesting article!
Crypto asset: Introduction
Crypto Asset are the digital elements of online transactions through which a person can easily make his transaction by using a peer-to-peer network and the concept of cryptography, where only the person is liable to hold the information of his transaction without giving
Any authorities like central banks or other monetary institutes, by using crypto assets he can do the following things;
- Verification of transaction
- Protection and security of transaction
- Regulation of transactions made
What are the other forms of Crypto assets?
Crypto Asset is made of several digital assets that are used in our online transaction and we could broadly classify them as follow:
Cryptocurrency comes under the crypto asset, which means Cryptoassets is not similar or the other name of cryptocurrency but it comes under the subtype of crypto assets, so cryptocurrency is widely used crypto asset.
It is popularly used in the form of Bitcoin, Dogecoin, Litecoin, Ethereum and Ripple, these cryptocurrencies are exchangeable mediums of transaction. That can be exchanged in the form of another monetary asset.
- Security tokens
The security token is one of the other kinds of crypto asset that can help in the transaction for bigger blockchain projects, it comes with the license under the Securities Exchange Commission and is the responsibility of both issuing country and investing country.
It is a liquid contract that can be used in form of collateral, also it gives ownership authority to the individual who has bought the security token and can reserve their place in the public ledger of a blockchain network.
- Utility token
A utility token is not used as money but it is of great monetary significance, it helps the investors in blockchain network by providing them with ownership and access to any special service or privilege.
For example, let us assume that you made an online payment and won an Online Shopping voucher from some online shopping brand, now you cannot make payment with this voucher but you can use it to avail of special discounts or clothes or other things.
- Platform token
Platform token helps in the functioning of decentralized applications known as DApps running across the entire blockchain network. It supports the security system and transactional facility; it is also widely used in gaming platforms in form of tokens and for advertisements at the global level.
- Governance token
Governance tokens are used to regulate the protocol of the blockchain network and it also helps in maintaining the decentralized cash system rules, they represent the power of voting in a cryptography-based transaction. They are the simple medium of power distribution among its customers and give them value to have a say over the governance system of blockchain.
Cryptoasset helps in maintaining the protocol and rules of a blockchain network, it not only provides the transaction facilities with an exchangeable medium that has a similar value to that of currency but it can also be used as the liquid contracts at the time of market volatility.
Also, crypto asset provides you with the power of voting in terms of governing the blockchain protocol but also it is used as collateral which has the same value as real estate and other things.