Ether, launched in 2015, is currently the second-largest digital currency by market capitalization after Bitcoin, although it lags behind the dominant cryptocurrency by a significant margin. There are also blockchain-based tokens that are meant to serve a different purpose from that of money. One example could be a token issued as part of an initial coin offering that https://pbase.com/topics/sulainufux/fyrxvus754 represents a stake in a blockchain or decentralized finance project. If the tokens are linked to the value of the company or project, they can be called security tokens .
Professor Grundfest remains a skeptic, but he does concede that there are certain applications where cryptocurrency is a viable solution. Grundfest notes that regardless of whether you think that’s a good or bad thing, it’s not entirely accurate. They are still reliant on the underlying infrastructure powering cryptocurrencies like Bitcoin, much of which is located in China.
