Blocto — The Cross-Blockchain Mobile Wallet App Is Launching a Governance Token
What is a token?
In the blockchain sphere, any funds that are transferable between two people is called a token. These tokens are issued on a blockchain, the most commonly used these days is Ethereum. Furthermore, we have different types of tokens: Equity token, Payment token, Utility token. Blocto token is an example of a utility token. Having read through Blocto whitepaper I saw that different blockchains like Flow, Solana, Ethereum are already inside the Blocto ecosystem.
Why is Blocto wallet different from other wallets?
I observed that the Atomic wallet is limited cause it only interacts with Ethereum and Binance(BSC) blockchain, unlike Blocto wallet which interacts with different native blockchains like flow, Solana, Tron, etc. Blocto wallet cannot be hacked because users have their private keys in their custody. I applaud Blocto wallet to support and allow users to switch from custodial to a non-custodial mode absent in the other wallets I mentioned earlier.
What is the use case of Blocto token points?
We have seen how different cryptocurrency exchanges have allowed their users to use native coins or tokens to pay a transaction fee when withdrawing any coin on their platform. For example, Gate.io(Exchange)also has its own token, when users trade with GT their fees are 20% less. I was given 3000 trial Blocto points when I signed up first and also completed other tasks to receive more Blocto points anticipating the upcoming Blocto token who knows if these Blocto points will amount to something valuable in the future.
Why is BLT a utility token?
Utility tokens have powerful use cases like; Exchanging value for goods and services, a currency for payment inside or outside the blockchain. Knowing that utility token goes up when the demand juxtaposes supply.
Future plans of Blocto token?
Tokens are used to communicate with Dapps applications that are built on top of different blockchains. I am sure Blocto will conduct token sales on Blocto platform in the future like the way Binance conducts token sale launchpad. Users have to buy Bnb(native token) to participate in the upcoming token sale. Users and developers will be able to test and contribute to Blocto ecosystem. Blocto should launch an open-source project in the future called Blocto scan. No gain-saying about Blocto I am sure Blocto has come to stay and will remain relevant for years to come in the blockchain sphere.
BLT To da moon!
BLOCTO
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