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Digital Duelists: Unleash Your Virtual Might For Tokens And Centuries" - Business - Nairaland

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Digital Duelists: Unleash Your Virtual Might For Tokens And Centuries" by Chstel(m): 4:17pm On Aug 23, 2023
"Digital Duelists: Unleash Your Virtual Might for Tokens and Centuries"

Do you think making money has diverged to a new format? Truly, you are right. Probably you have come across words such as:

Token, Coins, Redeem and Earn.

TOKEN
What are tokens in the aspect of digital assets?

In this context, token can be defined in the realm of digital assets. Tokens represent units of value that are stored and transacted on a blockchain or digital ledger. These tokens can take on various forms and serve different purposes within their respective ecosystems. Tokens can represent ownership of a physical or digital asset, access rights to a platform, voting power in a decentralized organization, or even loyalty rewards within a specific community. They are integral to the functioning of blockchain-based networks and enable a wide range of economic activities in the digital world.

In no distance time i am going to show you how to apply this locally as a support to shopping, e.g. shoprite.

COINS
In the view of digital assets, a "coin" typically refers to a cryptocurrency that operates on its own independent blockchain. Cryptocurrencies like Bitcoin, Ethereum, and Litecoin are examples of coins. These coins have their own native networks and blockchains, and they can be used for various purposes, including as a medium of exchange, a store of value, or a unit of account within their respective ecosystems.

Unlike tokens, which can be built on existing blockchain platforms and serve various functions beyond just a currency, coins are often used primarily as digital currencies. They are designed to facilitate transactions and value transfer directly between users without the need for intermediaries like banks or payment processors. Coins operate on decentralized networks, using cryptographic principles to secure transactions and maintain the integrity of the blockchain.

Locally, some e-shopping websites are opting into coins enable them to follow technological trends in currency.

REDEEM
In the know of digital assets, "redeem" refers to the act of exchanging or using a digital asset, such as a token or cryptocurrency, to acquire goods, services, or other benefits within a specific ecosystem. When you redeem a digital asset, you are essentially using it to access something of value that is available within the digital platform or network associated with that asset.

For example, if you have a gift card for an online retailer, you might redeem it by entering the card's code during the checkout process to deduct the card's value from your purchase total. Similarly, with digital assets like cryptocurrency tokens, you might redeem them within a particular application or platform to unlock certain features, acquire digital goods, or gain access to premium content.

In the case of the content you provided earlier, redeeming the Riot Games Virtual Currency (VC) card would involve using the card's value to purchase virtual items or upgrades within games like League of Legends, Teamfight Tactics, Legends of Runeterra, and VALORANT.

Yes, your love games can put that money inside you, piggy bank overtime.

EARN
In the contextual form of digital assets, "earn" refers to the process of acquiring digital assets through various activities, actions, or contributions within a particular ecosystem or platform. Earning digital assets can involve participating in tasks, performing work, contributing to a project, or providing value to a network. These earned assets can be in the form of tokens, cryptocurrencies, or other digital representations of value.

For instance, in the world of blockchain and cryptocurrency, you might earn tokens by participating in a process called "staking," where you hold and lock up a certain amount of a cryptocurrency to support the network's operations and security. As a reward for your contribution, you might receive additional tokens over time.

Another example could be earning tokens by providing computing resources to a decentralized network, like in the case of distributed computing projects or blockchain platforms that rely on proof-of-work or proof-of-stake mechanisms.

In the broader digital context, earning can also involve activities like completing online tasks, surveys, or microjobs that reward you with digital tokens or credits that can be redeemed for goods, services, or other benefits within a specific ecosystem.

Note i am not diving into cryptocurrency, i only bring the knowledge for the sake of reference.

Think of harnessing the power of your mobile phone to earn some token, move to shoprite, and get your items. I will show you an unsaturated platform using generative transformer pretrained apps, the one app you know.
Let us do it together in a few circles for updates and contributions to the development of like minds.

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