Global Expansion of Cryptocurrencies and Their Effects on the Environment

Abstract

With the introduction of blockchain, trustless transactions between parties in different countries are now simple. The ability to enable robust and safe exchange between many sorts of tokens is a fundamental demand given the abundance of diverse tokens entering the cryptocurrency ecosystem. The bitcoin market's ICO boom has caused a stratospheric spike in the funding of research-based enterprises. The limited understanding of these various token types is preventing inexperienced developers from realizing the full potential of blockchain technology. Tokens, whether fungible or non-fungible, can represent a wide range of assets and science groups. This study's main goal is to provide a summary of tokens and a comparative analysis of token standards that are currently available in the cryptocurrency market.