Token
A token is a digital asset issued on an existing blockchain — often Ethereum or Solana — as a smart contract. Unlike a *coin* (which powers its own chain),
A token is a digital asset issued on an existing blockchain — often Ethereum or Solana — as a smart contract. Unlike a *coin* (which powers its own chain), a token rides on top of someone else’s network. Tokens can be utility, governance, stable, or security-like assets; ERC-20 is the most famous standard.
Why it matters
Tokens are how projects distribute ownership, rewards, and governance without building their own blockchain. Their supply and distribution rules decide a project’s market — and how decentralized its ownership truly is — which is exactly what W3D’s capital scores measure.