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Digital Assets News

What is a Digital Asset?

A Digital asset is a non-tangible asset that is created, traded, and stored in a digital format. In the context of blockchain, digital assets include cryptocurrency and crypto tokens.

Cryptocurrency and tokens are unique subclasses of digital assets that utilize cryptography, an advanced encryption technique that assures the authenticity of crypto assets by eradicating the possibility of counterfeiting or double-spending.

The key differentiation between the two classes of digital asset is that cryptocurrencies are the native asset of a blockchain — like BTC or ETH — whereas tokens are created as part of a platform that is built on an existing blockchain, like the many ERC-20 tokens that make up the Ethereum ecosystem.

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“As global Web3 companies increasingly enter India, local communities will play a pivotal role in shaping the future of Web3 projects. Through our flagship events – India Blockchain Tour and Metamorphosis – Octaloop aims to nurture and engage India’s growing Web3 community,” states Octaloop Founder, Anupam Varshney.

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