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

ICOs on the Ethereum blockchain


Towards the end of 2015, a handful of companies started using Ethereum to raise funds for their projects, but no one could have predicted the success that it was about to have. What Ethereum did was take the blockchain cryptocurrency concept to the next level. It not only provided faster transaction speeds, but it added flexibility, and essentially brought a new meaning to programmable money.

Creating tokens on the bitcoin blockchain was somewhat problematic. The bitcoin blockchain was essentially the technology layer; Omni, or Counterparty would be the protocol layer; and applications such as MaidSafe would then represent the token layer. That is a lot of complexity, not to mention a lot of layers. Why not just use one layer to build applications on top of? The thinking at the time was that the bitcoin blockchain was the largest and most secure network, so why not make use of that? What Ethereum did was to reinvent the wheel. It was a risk, but one worth taking...