Dissecting Crypto Assets: Which Ones Does Pop Offer?
Blockchain technology comes with many crypto assets that fulfil a variety of roles. See which ones you can find on Pop.
Blockchain technology gives us the ultimate power of vigilance. With this technology, we can track anything and everything from start to end and the entire journey in the middle. We can track data, processes, transactions, product journeys, and so much more. More importantly, we are guaranteed that the record is genuine, unfiltered, and trusted. Adding on, privacy and transparency are delivered as well.
What allows us to do more on a blockchain besides just storing information is granted through the use of cryptographic assets within the blockchain itself. These come in the form of unique digital assets known as tokens. The crypto universe is filled with all kinds of digital assets. Some have a dedicated role to fulfill within their respective blockchain ecosystems. In contrast, others play multiple roles within and between multiple blockchain networks.
There are many operations a crypto asset can perform. They can be platform tokens that give users governance power. They can hold utility features or act as securities, or they can simply hold monetary value and help process transactions on a blockchain. For instance, Bitcoin is a cryptocurrency that is only used to transact payments. Meanwhile, some tokens and cryptocurrencies have multiple roles depending on how they are used.
Let's take Ether (ETH) and Cardano (ADA) for example. Both these tokens are cryptocurrencies. They hold monetary value and can be used to process transactions on their blockchains. They can be traded, bought, and sold. They can also be staked to redeem governance power. Crypto assets can fulfil many requirements and all these can be tracked and traced, thus providing accountability.
Crypto Tokens 101
So what is the difference between a cryptocurrency and a token? This is simple. If a crypto asset runs on its own blockchain, then it is a cryptocurrecy. Examples include Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Polkadot (DOT), and Solana (SOL). In contrast, crypto assets that run on existing blockchain qualify as tokens. Examples include Compound (COMP), MakerDAO (DAI), and Chainlink (LINK).
Now that we understand cryptocurrencies and tokens, let's give stablecoins a moment in the spotlight. Stablecoins refer to crypto tokens that have their value pegged or tied to that of another currency or commodity. For example, Tether (USDT) is pegged to the US dollar. This means that for every USDT, there is a US dollar to back up its value. Similarly, Tether Gold (XAUT) is backed by the value of existing gold.
The crypto assets we have gotten acquainted with so far have all been digital crypto coins. There are other crypto assets within the blockchain space that come in the form of Non-Fungible Tokens (NFT). These types of tokens cannot be split and are usually only traded as a whole. They are the opposite of fungible tokens like Bitcoin and Ether. To put it simply, one can buy a part of a Bitcoin or Ether but not a part of an NFT.
NFTs are unique and come in different forms. This can be digital art, digital collectibles, digital tickets or passes, audio and video files, domain names, gifs, gaming items, and much more. NFTs, like other crypto assests mentioned above, can be bought, sold, traded, and transferred within the crypto and NFT market or to other NFT collectors. The value of each NFT is not fixed and changes with the market, just like cryptocurrency.
Lastly, we will shed some light on Soulbound tokens (SBTs). These tokens are digital identity tokens. They can hold personal data and records of the individual that owns them. This data can be the holder's personal achievements throughout their time on the platform or from before. It can also carry information about the holders personal traits and features. SBTs are a huge breakthrough for digital verification and identification. These tokens prove the capabilities of its owner and they can never be traded or sold.
Pop Tokens 101
Web3 projects usually have a mix of crypto assets available in their ecosystem to offer an exciting and seamless experience. On Pop you will witness the magic of tokens by leveraging their many advantages. When you begin your journey on the Pop app you will be able to access Pop's native token $PPT and claim a personalized Pop NFT. In phase one of the Pop journey, you can level up this personalized NFT. You will also receive a domain name NFT once you create your username.
As a true Web3 project, Pop wishes to empower its community and give them the power to govern the Pop ecosystem. By doing so, active users and creators on Pop can decide what the future of the app will look like, and by extension, what their future will look like. Those who hold Pop Governance Tokens $PGT will be able to exercise power and make decisions pertaining to the future of Pop.
In phase two, the Pop app will launch its NFT marketplace. Here Pop users can mint and trade their very own NFT collection. They can also unlock or discover rare Pop NFTs to trade in the marketplace or to keep them and level them up. In later phases, Pop will also introduce SBTs. This will allow creators, businesses, influencers, researchers, and more to bring their expertise and qualifications into the Pop ecosystem without compromising their private data or real-world identity.
Pop is very eager to bring all these amazing features to its community. Indeed, it's going to be a very exciting and eventful year for the Pop community. Presently, the Pop team is celebrating its first milestone by having launched the closed alpha testing phase of the Pop app. You can be an early alpha tester and share your valuable feedback in exchange for USDT rewards. Start your journey as an active Pop citizen now and help shape the future of Pop today!
Follow our official channels to see how you can become a Pop alpha tester now!
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