August 12, 2022

Fungible Tokens

Fungible Tokens

What is Fungible Tokens?

An interchangeable representation of an asset on a blockchain. Cryptocurrencies are ideal examples of fungible tokens since each coin is worth the same as any other currency of the same sort at any given time. An NFT (non-fungible token), on the other hand, represents a very distinct item, such as a work of art.

Understanding Fungible Tokens

Voting Fungible vs. Non-Fungible

When a blockchain-based governance system permits members with more tokens to have more votes, a voting token becomes fungible. A decentralized autonomous organization defines such governance norms (see DAO).

A blockchain-based voting system for choosing government officials, on the other hand, would require non-fungible tokens (NFTs) because each qualified voter would have one voter NFT. Many people believe that such systems should be developed since they would make every transaction transparent and continually validated. Is it hackable in any way? One can only hope. The crypto world’s motto is “trust the algorithm.” See also DAO and governance token.

Read related articles:

« Back to Glossary Index

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Damir is the team leader, product manager, and editor at Metaverse Post, covering topics such as AI/ML, AGI, LLMs, Metaverse, and Web3-related fields. His articles attract a massive audience of over a million users every month. He appears to be an expert with 10 years of experience in SEO and digital marketing. Damir has been mentioned in Mashable, Wired, Cointelegraph, The New Yorker, Inside.com, Entrepreneur, BeInCrypto, and other publications. He travels between the UAE, Turkey, Russia, and the CIS as a digital nomad. Damir earned a bachelor's degree in physics, which he believes has given him the critical thinking skills needed to be successful in the ever-changing landscape of the internet. 

More articles
Damir Yalalov
Damir Yalalov

Damir is the team leader, product manager, and editor at Metaverse Post, covering topics such as AI/ML, AGI, LLMs, Metaverse, and Web3-related fields. His articles attract a massive audience of over a million users every month. He appears to be an expert with 10 years of experience in SEO and digital marketing. Damir has been mentioned in Mashable, Wired, Cointelegraph, The New Yorker, Inside.com, Entrepreneur, BeInCrypto, and other publications. He travels between the UAE, Turkey, Russia, and the CIS as a digital nomad. Damir earned a bachelor's degree in physics, which he believes has given him the critical thinking skills needed to be successful in the ever-changing landscape of the internet. 

Hot Stories
Join Our Newsletter.
Latest News

Supply and Demand Zones

Cryptocurrency, like any other currency, is a financial instrument based on the fundamental economic principles of supply ...

Know More

Top 10 Crypto Wallets in 2024

With the current fast-growing crypto market, the significance of reliable and secure wallet solutions cannot be emphasized ...

Know More
Join Our Innovative Tech Community
Read More
Read more
Binance Unveils Launchpool Project Ethena for BNB, FDUSD and TUSD Staking
News Report Technology
Binance Unveils Launchpool Project Ethena for BNB, FDUSD and TUSD Staking
March 29, 2024
MetaWin Launches New Base and Arbitrum Layer 2-Powered Swap System, Boasting 2-Second Payment Speeds and Half a Cent Gas Fees
Sponsored Stories and Reviews
MetaWin Launches New Base and Arbitrum Layer 2-Powered Swap System, Boasting 2-Second Payment Speeds and Half a Cent Gas Fees
March 28, 2024
Parcl Unveils Tokenomics Ahead of PRCL Launch, Allocates 75M Tokens to Point Holders
News Report Technology
Parcl Unveils Tokenomics Ahead of PRCL Launch, Allocates 75M Tokens to Point Holders
March 28, 2024
BEFE Coin: The Under-the-Radar 100X Gem You Can’t Miss
Stories and Reviews
BEFE Coin: The Under-the-Radar 100X Gem You Can’t Miss
March 28, 2024
What You
Need to Know

Subscribe To Our Newsletter.
Daily search marketing tidbits for savvy pros.