Fungibility & Blockchain
In the Blockchain world, Fungibility is mostly discussed in conversations relating to ethereum and the use of ethereumapplications. So what is it, and why is it relevant? To answer this question, we need to consider tokens, tokenization and what tokens represent. Using cryptocurrency as our example – each token coin) represents the same value as another token at a given point in time. i.e. one bitcoin is the same as value as another bitcoin. But what happens if we need individual tokens of the same application to host different values? And in what scenarios would we need this in the first place? We aim to give some high level answer to these fundamental questions in this article.