What is the meaning of fungible tokens in the world of cryptocurrency?

1 answers

• Jackson ReddingJun 11, 2022 · 3 years ago
  Fungible tokens are the bread and butter of the cryptocurrency world. They are tokens that can be easily exchanged for one another, just like traditional currencies. Each unit of a fungible token holds the same value as any other unit of the same token. This makes fungible tokens highly liquid and easy to use for transactions. Non-fungible tokens, on the other hand, are more like rare collectibles. Each non-fungible token is unique and cannot be exchanged on a one-to-one basis. They are often used to represent ownership of digital assets that have distinct characteristics and value, such as virtual artwork or virtual real estate.
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