What is a token standard in Blockchain?
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A token standard in Blockchain is a set of rules and specifications that govern the creation, issuance, and transfer of tokens on a Blockchain network, ensuring interoperability and compatibility between different tokenized assets and applications.
A set of guidelines and procedures known as token standards specify how digital tokens should perform and communicate inside a particular blockchain ecosystem. By following these standards, tokens on a blockchain are guaranteed to be uniform, compatible, and work with a wide range of wallets, applications, and platforms.