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29978484 No.29978484 [Reply] [Original]

I'm a newfag, I bought into Cardano a month ago and am trying to learn more about crypto. I know that today they're launching their native token. But what is a native token? Is it a type of crypto currency? How is it different than ADA and where do I buy it? Is it a good investment?

>> No.29978720

>>29978484
yes spend all your money on cardano it's not a ponzi i swear

>> No.29978965

I'm also semi new to actually understanding the logistics of this shit, so my bad if I get something wrong
Basically, cardano is its own blockchain, completely separate from the likes of Ethereum or Bitcoin. Ethereum itself has native tokens: if you've heard of an ERC20 token, it was basically a method of standardization for coins built on ethereum. Chainlink, for instance, is a token native to the ethereum blockchain and it runs on the ERC20 protocol or whatever.
Cardano will give users the ability to create tokens on its blockchain with the update that happens later today.
Hope that helps

>> No.29979180

>>29978965
native tokens dont require smart contracts whereas erc20 tokens do. all cardano tokens are supported by default and dont require additional work to be supported by smart contracts etc. even the cardano transaction fees will be paid in native tokens if you set up an ADA/Token pool

>> No.29979241

something Ethereum implemented 5 years ago

>> No.29979534

>>29978484
Just look it up Faggot.
Seriously there's so much info on their sites.
https://iohk.io/en/blog/posts/2020/12/08/native-tokens-on-cardano/

>> No.29979580

>>29979180
Okay, where can I buy them? Do I hold them just like any other crypto currency? Is it a good thing to buy?

>> No.29979800

>>29979580
I think you'll be able to buy them on the daedalus wallet
If you don't have that, you should look it up. You can stake your ADA in it

>> No.29980708

>>29979580
>I think you'll be able to buy them on the daedalus wallet
No
>>29979580
How to get Native Tokens is not clear yet. Anyone will be able to mint them on Cardano network in ~5 hours. How to get tokens others have minted is unclear. There is no DEX on Cardano yet, so I guess Native Tokens would have to be listed on regular exchanges first.

>> No.29980912

>>29980708
My bad, I meant you'll be able to hold them on Daedalus

>> No.29980929

>>29980912
yes

>> No.29981202
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29981202

>>29979241
lol no
>You have probably heard about ERC-20 tokens that can be issued on Ethereum. To issue and use them, you need to use smart contracts. In the Cardano ecosystem, tokens do not need smart contracts. Cardano supports tokens natively. It means that you do not need to use a smart contract for transferring tokens from address to address. It works exactly as it is with ADA coins. Users will be able to issue, send, receive and burn their tokens. New tokens can be issued via the Cardano command-line interface or a special graphical interface that isolates users from the command line. Both official Cardano wallets Daedalus and Yoroi will support tokens. Users will be able to receive and send tokens.