Sean Taylor

This gas is paid in ether, a cryptocurrency native to Ethereum. Ether is more correctly denominated an “utility token”. It’s called that way because its whole purpose is to pay for network utility. Having to pay gas in ether incentivizes network users to place only as much strain on the network a…

…lders. This trust comes first and foremost from the way the blockchain is cryptographically secured. Additionally, and more interesting still, is how game theory can be used to develop token economies on top of this trust layer, which turn blockchains into incentive machines. This essentially makes it possible for us to trust the network, without having to trust any of its individual participants.

…lems that this new token economy proposes to solve. Be specific on which pain points are addressed. If the token doesn’t solve a real problem then it is unlikely that people will buy into the economy.