Token Economies

Question 1

What is a coloured coin?

Answer 1

A satoshi marked with metadata in OP_RETURN to represent an external asset.

Question 2

Benefit of coloured coins?

Answer 2

Transfers asset ownership using Bitcoin’s existing security and ledger.

Question 3

Digital token definition?

Answer 3

On‑chain programmable unit of value (currency, asset claim, or utility).

Question 4

Native vs asset‑backed token example.

Answer 4

ETH (pays gas) vs gold‑backed PAXG.

Question 5

Two real dApp examples.

Answer 5

Augur (REP) prediction markets; Filecoin (FIL) storage network.

Question 6

dApp hallmark?

Answer 6

Backend operates on decentralised nodes / smart contracts, not one server.

Question 7

DAO in one sentence.

Answer 7

Organisation whose governance and treasury are managed entirely by smart‑contract code.

Question 8

DAO vs company: major contrast.

Answer 8

DAO votes auto‑execute; company decisions rely on human management.

Question 9

Three DAO membership models.

Answer 9

Token‑based, Share‑based, Reputation‑based.

Question 10

Legal caution with tokenised stock?

Answer 10

Token isn’t the legal share unless the official registry is on‑chain.