What is Crypto Token?

A crypto token is a blockchain-based unit of value that organizations or projects can customize and develop for use within existing blockchain ecosystems. Crypto tokens can be programmable, transparent, permissionless, and trustless. They can also serve many functions on the platforms for which they are built, including being used as collateral in decentralized financial (DeFi) applications, accessing platform-specific services, or voting on DeFi protocols.