Cryptocurrency Q&A
What is soul bond token?
What is soul bond token?
SoulStorm
Mon Nov 18 2024
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7 answers
1903
Soulbound Token (SBT), proposed by Ethereum co-founder V. Buterin, is a special type of token designed to be permanently bound to an individual's account, representing their digital identity, credentials, or achievements. SBTs are non-transferable, programmable, and can include verifiable information, making them useful for establishing trust and reputation in decentralized environments.
7 answers
CryptoMystic
Wed Nov 20 2024
It is characterized by its inability to change ownership.
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Nicola
Wed Nov 20 2024
Specifically, it can only be owned and held by the address it is initially assigned to.
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DigitalTreasureHunter
Wed Nov 20 2024
This feature sets it apart from other types of tokens that allow for transferability.
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Bianca
Wed Nov 20 2024
A Soulbound token represents a unique category of digital assets.
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CryptoChieftain
Wed Nov 20 2024
Once a Soulbound token is created, it becomes permanently tied to the designated address.
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