Definition of Utility token

Utility token, What does it mean?

Utility token is a term used in the cryptocurrencies field. It is key to understand it in order to fully understand this world

Definition of Utility token: A utility token is a cryptocurrency token dedicated to manage products or services usage on a blockchain. Utility tokens can be seen as a cryptocurrency used to allow/track/pay for usages of a given product or service, but they do not hold a value and are not tradable between parties (i.e.: They are not meant to be used as an investment or to store of currency value).

Utility token is related to

Security token Token Coin

See more: Cryptonyms glossary

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Utility token, What does it mean?