LeoGlossary: Access Token

3 mo (edited)
LeoFinance
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How to get a Hive Account


Temporary credential issued by Identity Provider to perform operations against Resource Servers on behalf of Resource Owner and with the consent of the Resource Owner. Access
token
is always tied to a particular client application, it has limited scope and lifetime. Access tokens are not intended to carry information about the end-user.

Within cryptocurrency, we see this concept applied as a use case with some blockchains. In Hive, for example, one of the native coins ($HIVE) works as an access token when it is staked. This provides users with the ability to engage with the network.

From this perspective, a cryptocurrency that acts, at least in part, as an access token can derive great value on the open markets. Price can appreciate as the user base grows or activity on-chain increases. In the digital world, this can set of the network effect, sending activity parabolic.

This can be enhanced by development on the second layer. While that is often separated from the blockchain's base layer, often data is transmitted to the chain. This means that some of the access token is required to facilitate those transactions. We often see this with gaming where things such as battle results might be sent to the blockchain.

General:

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