other notes

The Ethereum community created some of the very first Standards for these tokens and the Internet Computer is doing the same. When formally accepted by a documented standards development process the standard defines what is required to implement a token that complies with the standard. A popular example is Ethereum’s

ERC-721⁠

standard for non-fungible tokens. Without these kinds of standards we couldn’t rely on any consistency or compatibility in the use of digital wallets and transactions.

Some key aspects and benefits of standards and standardization to appreciate, include:

well vetted (thousands of people viewing the code)

well understood (everyone who accepts an ERC-20 token knows how it will behave)

well supported if popular enough (if a standard is useful it will get support, and well supported standards will get more usage)

Launched by DFINITY Foundation at a May 2021 “Genesis Launch Event”, the Internet Computer represents an entirely new kind of digital infrastructure. As DFINITY continues stewarding the growth and maturity of the Internet Computer ecosystem, they’re also facilitating broad decentralization of decisions governing the operations and available services of the blockchain network. The tools for weighing in on decisions – ranging from the cost of execution cycles to the remuneration of node providers or even the removal of a service or node from the network – are the ICP governance token (named for “Internet Computer Protocol”) and the Network Nervous System (NNS).

Want to print your doc?
This is not the way.

Try clicking the ⋯ next to your doc name or using a keyboard shortcut (

CtrlP

) instead.