What is a utility token?
Utility tokens are often used as a type of digital currency that can be spent within blockchain-based ecosystems.
In most blockchains, spending behavior, balances, and other sensitive information is shared in an unencrypted form with the entire network. This lack of privacy is exactly what has deterred enterprises from using public blockchain solution. Dusk addresses these privacy concerns head-on. Zero-Knowledge Utility Tokens rely on advanced cryptographic primitives that guarantee that the transmission of data is private, safe and secure. Thanks to this layer of privacy, and the versatile zero-knowledge proof system PLONK, use cases such as digital identity/self-sovereign identity become a reality.
Businesses and institutions can create zero-knowledge utility tokens and they can be traded privately. This gives organizations access to a public blockchain without losing their privacy. They can tokenize pre-existing assets, create novel tokenized representations of assets, and create tokens on-chain. This could be used for fundraising, ownership, or tokenizing ownership in new ways.
Security token exchanges are stock exchanges that support the trading, deposit, and withdrawals of security tokens, and use the blockchain to increase industry cooperation.See more
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