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Published on Feb 13, 2022

Composable Token

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#Glossary
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Briefly, composable tokens are being heavily used within the market. As composable tokens follow the ERC-998 token standard, they share a similar resemblance to that of ERC-721, as both are non-fungible.

The difference is that ERC-998 tokens including composable tokens hold the ability to own other fungible and non-fungible tokens. Transferring the ownership of several coins to the parent token is possible with a composable token. As a holder, you can exchange many tokens with single ownership.

Composable tokens are made of two types. The top-down composable token can only be owned by an individual, whereas the bottom-up composable token is owned by another individual. As anyone can create composable tokens, third-party interference is quite predominant.


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