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 Bitcoin blockchain


Before Ethereum existed, and ERC20 tokens were the buzzword, ICOs were known as crowdsales or fundraising events. Platforms based on the bitcoin blockchain were invented to enable the creation of tokens linked to a bitcoin address, much like how ERC20 tokens are linked to an Ethereum address. Omni (formerly known as MasterCoin) was such a platform. Counterparty was another and so was Factom.

Figure 1: Omni, Counterparty, and Factom were the early adopters that built on top of the bitcoin technology

These platforms also included rules or "protocols" on how other tokens could be created and are generally referred to as "protocols" for this reason.

Note

Protocol: A rule or way of doing something or, informally in the software world, a standard language that lets a bunch of people on the internet work together on a specific problem.

Omni (OMNI) (formerly MasterCoin)

Omni is an open-source, fully-decentralized asset platform on the bitcoin blockchain and was created...