Native token

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Native token

Native tokens are those that are produced at the network’s origin and are an essential component of the functionality of the network protocol on which they are issued. Native tokens are frequently used to fund DPoS systems or cover transaction costs.

The native token for Bitcoin, which has just one function as a cryptocurrency, is BTC. Ethereum’s native cryptocurrency is ETH, but it also hosts a huge number of non-native cryptocurrencies, NFTs, and various other tokens based on smart contracts. Every autonomous blockchain has its own native cryptocurrency that is used as a payment method for transaction fees as well as a means of rewarding miners and validators for contributing blocks to the blockchain.

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