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Tokens Meaning: Definition, Examples, and Translations

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tokens

[ˈtoʊkənz ]

Definitions

Context #1 | Noun

digital assets

Tokens are digital assets or units of value that are created and managed on a blockchain. They can represent various forms of value, including currency, assets, or even access rights to an application or service.

Synonyms

asset, coin, digital currency.

Examples of usage

  • Cryptocurrencies are a type of token.
  • Some tokens grant access to specific platform features.
  • Investors purchase tokens to support blockchain projects.
Context #2 | Noun

authentication tool

In the context of computer security, a token is a physical or virtual device that is used to authenticate a user's identity. These tokens are commonly used in two-factor authentication systems to enhance security.

Synonyms

authentication key, security token.

Examples of usage

  • The token generates a unique code every 30 seconds.
  • Software tokens can be installed on smartphones.
  • Users must enter their token code to access their accounts.

Translations

To see the translation, please select a language from the options available.

Interesting Facts

Gaming Culture

  • In many video games, tokens can be collected to unlock new characters, levels, or skins.
  • Physical tokens, like coins, were often used in arcade games before the rise of digital gaming.

Finance

  • In the cryptocurrency world, tokens can represent a unit of value on a blockchain, often used for transactions.
  • Companies sometimes issue tokens as part of Initial Coin Offerings (ICOs) to raise funds and involve users.

Psychology

  • Behavioral psychologists use token economies in therapy, where patients earn tokens for good behavior that can be exchanged for rewards.
  • This approach helps build positive patterns, teaching delayed gratification.

Literature

  • In literature, tokens often symbolize deeper meanings, like a character's identity or past, offering clues to their journey.
  • Books often explore themes like loyalty through physical tokens shared between characters.

Origin of 'tokens'

Main points about word origin

  • The word has roots in Old English, meaning 'sign' or 'mark', reflecting its use as symbols.
  • It evolved through Middle English, where it also referred to any kind of prompt or evidence.

The term 'token' originates from the Old English 'tācna', which meant 'a sign, a mark, or a token.' Over time, the word has evolved to encompass various meanings across different contexts, particularly in finance and technology. In modern usage, it has become associated with digital currencies and blockchain technology, where 'tokens' serve as representations of value. The rise of cryptocurrencies in the early 21st century brought the word into mainstream conversation, as tokens became integral to the functioning of decentralized applications and financial transactions. With the advent of new technologies, the concept of 'tokens' continues to evolve, reflecting the changing landscape of digital assets and security measures.

Word Frequency Rank

At position #12,505, this word is part of sophisticated English vocabulary. It's useful for academic or professional contexts where precise language is needed.