Book Image

Tokenomics

By : Sean Au, Thomas Power(GBP)
Book Image

Tokenomics

By: Sean Au, Thomas Power(GBP)

Overview of this book

Tokenomics is the economy of this new world. This is a no-holds-barred, in-depth exploration of the way in which we can participate in the blockchain economy. The reader will learn the basics of bitcoin, blockchains, and tokenomics; what the very first ICO was; and how over a period of 5 years, various projects managed to raise the enormous sums of money they did. The book then provides insights from ICO experts and looks at what the future holds. By comparing the past, current, and future of this technology, the book will inform anyone, whatever motivates their interest. The crypto shift of blockchains, ICOs, and tokens is much more than just buying bitcoins, creating tokens, or raising millions in a minute in an ICO. It is a new paradigm shift from centralized to decentralized, from closed to open, and from opaqueness to transparency. ICOs and the creation of tokens during the craze of 2017 needed a lot of preparation, an understanding of cryptocurrencies and of emerging legal frameworks, but this has spurred a new movement to tokenize the world. The author gives an unbiased, authoritative picture of the current playing field, exploring the token opportunities and provides a unique insight into the developing world of this tokenized economy. This book will nourish hungry minds wanting to grow their knowledge in this fascinating area.
Table of Contents (18 chapters)
Tokenomics
Contributors
Preface
Index

Summary


In this chapter, we learned about the various cryptocurrencies that existed before bitcoin and why they failed. We discussed how bitcoin was born and the founding principles it promotes, namely trust, decentralization, and transparency. Three altcoins were examined, out of the more than 1,000 that were created, with Litecoin being the only one that has consistently ranked in the top 10 of all cryptocurrencies.

The various definitions of a blockchain were compared, noting the challenge ahead for the ISO/TC 307 committee in attempting to define blockchains and DLT.

We looked at all the wonderful information people placed on the bitcoin blockchain, such as a picture of Mandela, and explained the concept of coloring bitcoins.

Smart contracts were explored and shown to exist in a simplistic form in bitcoin, but have been drastically improved with the invention of Ethereum, a global decentralized computing network. While the Ethereum platform didn't give birth to ICOs, it dramatically accelerated...