What is Certified Token (Certified Agent)

What is a certified token? The blockchain industry has always focused on decentralized finance and distributed ledger technology. However, there are now various cryptocurrencies on the market, such as Bitcoin and Ethereum.

But for some projects, the tokens for these projects have not received much support. They were launched without any public issuance plan or promotional campaign, making it difficult for many investors to participate in this ecosystem.

So, how can we gain more trust in our assets? Let’s look at it from three aspects. First, certified tokens (RTO) are usually defined as digital tokens with a certain degree of transparency, managed and maintained by a specific company. The other type represents the “company” it stands for, corresponding to the company’s equity. If a company sells a product or service it deems appropriate to other businesses, it becomes a shareholder. For example, a company may be willing to purchase 20% of the company’s equity or hold 10% or even 1% of the shares of the company developing the product.

However, due to certain factors, people lack understanding of this type of token and there are no corresponding laws and regulations to regulate them. Moreover, since many cryptocurrencies are financed through private placement, most ICOs are illegal fundraising activities involving illegal behavior such as forged transactions.

In fact, according to CoinMarketCap data, as of December 31, 2020, nearly 20 exchanges worldwide have announced that they accept token payments from the crypto industry. These institutions include Kraken, Binance Labs, Diginex, Bitfinex, and Huobi Global. There are also several tokens created based on the Ethereum blockchain, such as Tezos, Avalanche, and Algorand. The value of these tokens exceeds one million dollars. Third, non-fungible tokens (NFTs) such as CryptoKitties and NBATopShot are now in the later stages of development in the DeFi field. As NFTs become more popular, more people are starting to explore this emerging field. New cryptocurrencies like ERC-20 tokens may have advantages over traditional fiat currencies. For example, in the frenzy of 2017, NFTs also made huge profits, but there have been recent changes. The crazy surge at the end of 2017 led to congestion in the Ethereum network, resulting in transaction fees skyrocketing to a historic high. Although the price of ETH has rebounded, there are still some risks.

To prevent the possibility of the above situations, certain methods need to be adopted to prevent hackers from stealing user assets and thus reduce the cost of attacks. For example, it is very common to use smart contracts to automatically execute code to improve the gas fee because when a user sends a transaction, the system requires the trader to use the smart contracts in the Ethereum smart contract.

Certified Agent

According to the reports of cointelegraph, the blockchain and cryptocurrency research company Chainalysis announced that its certified agent service can now provide authorization for digital assets to enterprises, government agencies, or financial regulatory institutions. This includes using certified agents to store data in the public cloud to manage the process of verifying customer identities and ensure that they do not leak their sensitive information. These tools are open-source and form the basis of network applications (such as social media) with unlimited commercial value.