Today we’re announcing the developer preview of Token.Token is a combination of a few things.It is:We were inspired by apps like WeChat that are driving a large volume of digital payments in China.We wanted to build something for the rest of the world that works on open protocols.Token is architected to be similar to a web browser.It is a piece of software that runs on your device (your phone) that allows you to access an open network.Token does not host any of the apps you access, and you are always in control of your own funds.Token also has a built in reputation system which lets you know who you can trust.Every user and app builds reputation over time as they transact with others on the platform.We believe that everyone in the world should have access to financial services, and with smartphones becoming ubiquitous, digital currency can make that happen.And the McKinsey Global Institute states that…With this app, our long term goals are to:Token speaks a number of protocols underneath which allow you to connect with other users and browse Ethereum applications:In the same way a web browser allows you to access web pages, Token allows you to access third party Ethereum applications.Token is also entirely open source for those who want to review the source code.We’re releasing the developer preview of Token today.

It is still early days, and you can expect some bugs (so please be kind in your reviews).For today’s launch, we are using testnet Ethereum, so there is no real money to lose if you encounter an issue.We plan to continue shipping updates approximately every week, and move to mainnet in the coming months for a wider release.You can install the Token app on Android and iOS today.If you’re a developer you can read through our developer documentation.You can also visit our main website.If you have a question or any feedback, please post it in our discussion forum.the biggest bitcoin win in gambling historyWe welcome your input.If you are a talented engineer, designer, or product manager who finds this project interesting, please email tokenbrowser at gmail.bitcoin fugaWe’re looking to grow our team.What inspired you to build Token?Mobile money is growing.bitcoin wert live

We were inspired by WeChat in China, PayTM in India, MPESA in Kenya, and others.Each of these has revolutionized payments in one country.We would like to bring something similar to the other ~180 countries, and also enable a global payment network based on open standards, so that every country becomes interoperable, and everyone has access to financial services.Why is Token built on top of Ethereum instead of Bitcoin (or another digital currency)?Right now, the transaction fees are a bit too high in Bitcoin to work for small payments.bitcoin iphone rageWe envision a large number of small payments happening with Token, so we started with Ethereum.bitcoin pesaIn the future, we may support other digital currencies, and we are not specifically tied to Ethereum.bitcoin kurs liveIt’s still unclear which digital currency will work best for this long term.How is Token different from Status.im?They are similar in many ways and we are big fans of Status.im.

We independently began working on this idea over the past few years, and were excited to see Status launch.Our goal is to work with others in the ecosystem to help build an open financial system.What happens if I lose my phone?Can I recover my funds?Our launch today only uses Ethereum testnet coins (not real money) in case this happens.However, you can recover access to your wallet by storing a backup phrase, or by choosing trusted friends (coming soon).I’m a developer.How can I build an application?You can read through our developer documentation.We’ve made it simple to fork and deploy an app in as little as five minutes.I’d like to build an app during the developer preview and have a question, where can I get it answered?You can post it in our discussion forum.We’re considering other options for developer support as well (Slack channel, etc).Coinbase is introducing a house built messaging service it says is “inspired” by Chinese tools such as WeChat.Token, as the project is officially called, is designed to consist of three main functions: a “private and secure” app for messaging, an Ethereum wallet and a browser for Ethereum apps.

“We were inspired by apps like WeChat that are driving a large volume of digital payments in China.We wanted to build something for the rest of the world that works on open protocols,” the company wrote in a blog post about the release Tuesday.Unveiling further details on Twitter, Coinbase CEO Brian Armstrong said that Token would operate in a similar vein to the company’s GDAX platform - as a separate entity under the Coinbase umbrella.“Our plan is to build it out as a separate legal entity and brand, separate from Coinbase.Similar to what we're doing with GDAX,” he commented.Excited to roll out this new project we've been working on: Token!https://t.co/KLq1jh1Pqh Developer preview for now, and big things to come — Brian Armstrong (@brian_armstrong) April 19, 2017 Token is “architected to be similar to a web browser,” with use cases including the ability for users to send ETH micropayments within the messaging system.Explaining its motivation to build the tool, Coinbase hinted at a humanitarian perspective, citing the Gates Foundation’s report that worldwide over 2.5 bln adults are excluded from financial institutions.

“We believe that everyone in the world should have access to financial services, and with smartphones becoming ubiquitous, digital currency can make that happen,” the blog post continues.Earlier this month, Coinbase announced it would being adding Litecoin to GDAX on the back of strong trading volumes.Username * First Name Last Name Email * Password * Repeat Password * You registration completed successfully.Confirmation email sent to email address provided.Email * Password *This week, Gnosis launched a token and sold 4% of them for 250,000 ether… in less than 15 minutes.This comes to around $12.5M USD and implies a total token valuation of $312.5M.If killer apps prove the core value of larger technologies, Ethereum tokens surely prove the core value of blockchain, made evident by the runaway success that tokens have brought to these new business models.Blockchains are secure, decentralized ledgers of transactions that are safe from tampering.

Bitcoin was the first digital currency to store transactions on a blockchain.Its designers introduced a revolutionary method to transfer value without having to trust a counterparty and without requiring a third.For the first time in history, transactions and balances could be trusted in a decentralized manner.Decoupled from Bitcoin, blockchain technology can be used to create even more kinds of digital assets.Ethereum is a blockchain that runs programs called smart contracts.A smart contract can define a digital asset that includes functions to trade and check the balances of its holders.Because the code is public and its state is stored on the blockchain, holders of a digital asset can trust that their ownership is verifiable and under their control.As a result, a burgeoning token market, built on smart contracts, has emerged.This token market may be used as a mechanism for fundraising to support development, or as in the case with Gnosis, a mechanism for selling access to your product once a large portion of your development is complete.When a new technology is introduced we should ask: What does this new technology allow that was not possible before?

What barriers did it remove?I’ll attempt to illustrate the token phenomenon by reviewing the current state of the asset market and listing the frictions that Ethereum smart contracts have removed.As a disclaimer, most tokens do not represent equity ownership in a company but rather utility on a blockchain platform.Even if the assets are fundamentally different, though, the establishment of trust is analogous.When an asset is created, it must be underwritten and issued, usually a lengthy process that ultimately ensures that the asset created has many properties including uniqueness, fungibility, and that it actually is a real asset.On Ethereum, with the use of a public smart contract, all parties can know the number of tokens outstanding, fungibility, and existence on the Ethereum network without the need of a lengthy underwriting process.You deploy your contract, and that’s it.In the old paradigm, when you want to transfer an asset, you must do so through a brokerage account.The brokerage has a level of trust established with all other parties, which helps ensure that transactions never fail, and if they do, the broker will step in and take the position on behalf of their client.On Ethereum, there is no need for a trusted brokerage account to transfer ownership.

Transfers are conducted on the contract itself, and the transaction runs exactly as programmed, every time, with no chance of failure.The clearinghouse serves as the ultimate source of truth.Clearinghouses function to verify the “state” of the world, that is, who owns which asset.If there is a dispute, the clearinghouse records can be used to resolve that dispute.On Ethereum, you guessed it, we always know the state of the world.The amount of trust previously required to transfer value was burdensome and is almost completely relieved by what we can now do with Ethereum.The barriers for large, trustworthy capital raises have been removed.We are now seeing a wave of launches that break tokens through as the first killer app of of blockchain technology.Bitcoin, in many ways, is a “proof of concept” for a blockchain-based asset.The Ethereum platform is proving that concept at scale.This is a massive paradigm shift.More and more individuals and companies of all sizes will be looking at Ethereum tokens.