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RE: Some facts on Creating our own token on Hive Engine

in LeoFinance3 years ago

I have two questions. First question is regarding pre-minted token that I have read it in several articles and second is about side chain.

What is pre-minted token?
What is side chain?

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Oh my bad, I gave a 100% vote by mistake. Good for you. :)

Yeah coming to your question. Pre-minted tokens are something that the project owners or the token creators mint when they create the token. Initially, when they create a supply and a tokenomics, they allocate a good amount of tokens for themselves. Those are called pre-minted tokens.

A sidechain is something that runs alongside the main chain. For example, Hive is the main chain here and Hive Engine is the sidechain. All the transactions are broadcasted to Hive and based on those transactions, the side chain is created or the blocks are produced. There is a data structure defined for the side chain and the data is broadcasted to the main chain and from there the sidechain is built. Hive engine is the best example for that and there are also many other blockchains having this same concept of sidechains.

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