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Message: <blockquote data-quote="foundation one" data-source="post: 23150090" data-attributes="member: 407457">What is a crypto-asset?The  crypto lexicon is massive and largely incomprehensible to the untrained  ear. It’s growing at a rapid rate, adding new words seemingly every  week. Cryptocurrencies, digital currencies, decentralisation,  tokenisation, coins, tokens, smart contracts, mining, proof-of-stake,  gas… It’s difficult to keep up. Terms used in the cryptosphere are  easily muddled and people tend to use words interchangeably without  knowing the difference between them.This is particularly true of crypto-assets and cryptocurrencies. In <a href="https://medium.com/babb/5-takes-on-the-mark-carney-future-of-money-speech-3e94d304a9c4" target="_blank">Mark Carney’s recent speech about the future of money</a>  he referred to cryptocurrencies as ‘crypto-assets’ throughout. The  majority of policymakers do not consider cryptocurrencies to be true  currencies and BABB is aligned with this view. We often see the terms  cryptocurrencies and crypto-assets used interchangeably, confusing new  users and regulators and stifling the discussion on the future of these  assets.So, what is a crypto-asset and how does it differ from a cryptocurrency?Put  simply, a cryptocurrency is just one type of crypto-asset. A  crypto-asset is an umbrella term; the special sauce that powers most  applications of blockchain technology. More specifically, a crypto-asset  is a digital asset which utilises cryptography, peer-to-peer  networking, and a public ledger to regulate the creation of new units,  verify transactions, and secure the transactions without the  intervention of any middleman.Crypto-assets  facilitate the decentralisation of industries, removing the middlemen  through the use of cryptography and peer to peer networking and in turn  reducing costs. Whether you’re making payments, file sharing or using  the internet of things (IOT), you usually need a crypto-asset to make it  happen.As of April 2018 there are 1591 crypto-assets. There are four types:<ol> <li data-xf-list-type="ol">Cryptocurrencies</li> <li data-xf-list-type="ol">Platform tokens/cryptocommodities</li> <li data-xf-list-type="ol">Utility tokens</li> <li data-xf-list-type="ol">Transactional tokens</li> </ol><img src="https://cdn-images-1.medium.com/max/1000/1*QW5KJ2_kdHb6V4ic54mQ8A.jpeg" alt="" class="fr-fic fr-dii fr-draggable " style="" />CryptocurrenciesCryptocurrencies  are the most well-known type of crypto-asset. Examples include Bitcoin,  Litecoin and Dash. These were created to act as a decentralised  alternative to fiat currency which could be easily transacted across the  world. Their value fluctuates based on the forces of demand and supply,  much like traditional fiat currencies. Although it was intended as a  mean of payment, Bitcoin is now considered more of a ‘digital gold’ due  to its scarce supply (max supply of 21m BTC).Platform tokens / CryptocommoditiesPlatform  tokens were created to act as a platform for the development of other  decentralised projects. The largest platform token is Ethereum. Other  examples include NEO and EOS. Ethereum’s decentralised platform provides  a hardware and software base for the development of decentralised  applications (dApps). The introduction of smart contracts allows new  projects to be built upon the Ethereum platform and specify their own  self-executing smart contracts on the blockchain. New projects can use  Ethereum’s platform to issue their own ERC20 token, just as we did here  at BABB!Utility / Protocol tokensUtility  tokens (or sometimes protocol tokens) are usually ERC20 tokens built on  the Ethereum platform. Examples include OmiseGO, Filecoin, Bancor and  BAX. These tokens are usually created with a specific purpose in mind,  bespoke to the project that issues them. They can be exchanged for  specific services such as distributed storage, in-app currency or for  more operational purposes. The value of these tokens are usually based  on their expected use in the project for which they were intended.Transactional tokensThese  types of crypto-asset are less common. Examples include Ripple, IOTA or  Stellar. Transactional tokens are created to enable fast cross-border  payments while providing transparency during the process. These are  usually blockchain based tokens such as Ripple, but can also involve  internet of things, such as IOTA.Why it mattersBy  understanding the different types of crypto-assets, the community can  help regulators better understand the evolving crypto landscape. If the  regulators can get to grips with the different types of crypto-assets,  they can work with us to make best use of these assets in the future.Proper  supervision from informed regulatory bodies will ensure continued  progress towards a more mature crypto-economy. I want to see the space  become more inclusive with proper protection for participants and I feel  strongly that this must begin with us.</blockquote>

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