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Token Economy: How the Web3 reinvents the Internet (Token Economy: How the Web3 reinvents the internet (English original & foreign language translations))

Penned By Shermin Voshmgir
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Token Economy: How the Web3 reinvents the Internet (Token Economy: How the Web3 reinvents the internet (English original & foreign language translations))

Penned By Shermin Voshmgir
4.85 47,299 Ratings
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Editor's Note:
Tokens - often referred to as cryptocurrencies - can represent anything from an asset to an access right, such as gold, diamonds, a fraction of a Picasso painting or an entry ticket to a concert. Tokens could also be used to reward social media contributions, incentivize the reduction of CO2 emissions, or even ones attention for watching an ad. While it has become easy to create a token, which is collectively managed by a public Web3 infrastructure like a blockchain network, the understanding of how to apply these tokens is still vague. The industry keeps referring to “Blockchain” as different from “Bitcoin,” creating an artificial divide that is often misleading. There seems to be too little understanding about the fact that Bitcoin is a blockchain network, which is (a) globally managed by people who mostly do not know each other, and (b) enabled by the consensus protocol that (c) incentivizes all network actors for their contributions with a native token. The governance rules are tied to the minting of a native blockchain token. The Bitcoin token can, therefore, be seen as the currency of a distributed Internet tribe, called the Bitcoin network, where network actors are rewarded with Bitcoins, just as the Ether is the currency of the distributed Internet tribe Ethereum network, or Sia is the native currency of the Sia network. The Bitcoin network and other distributed ledgers all represent a collectively maintained public infrastructure and are the backbone of the next generation Internet, what the crypto community refers to as the Web3.This book attempts to summarize existing knowledge about blockchain networks and other distributed ledgers as the backbone of the Web3, and contextualize the socio-economic implications of the Web3 applications such as smart contracts, tokens, and DAOs to the concepts of money, economics, governance and decentralized finance (DeFi).

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Shermin Voshmgir
The Mind Behind the Work
Shermin Voshmgir

Shermin Voshmgir writes contemporary fiction and has always been fascinated by character-driven stories. They hold a degree in English Literature and previously worked as an editor before transitioning to writing their own books. Shermin Voshmgir lives with their spouse and a very vocal rescue cat.

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Christopher Lopez
Christopher Lopez June 24, 2025
"Honestly one of the most premium reading experiences lately. I adored how the story unfolded. It kept me captivated without sacrificing elegance. An absolute must-read for connoisseurs of the genre."
Amanda Mitchell
Amanda Mitchell January 11, 2025
"I was completely blown away. I adored how the story unfolded. It kept me captivated without sacrificing elegance. An absolute must-read for connoisseurs of the genre."
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Jessica Lee
Jessica Lee April 07, 2024
"An acceptable diversion. The tempo was somewhat languid, and I found my mind wandering. Not poor, simply average. Perfectly average."
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Gary Anderson June 23, 2024
"Honestly one of the most premium reading experiences lately. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. I will undoubtedly revisit this masterpiece."
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Nancy Lewis October 16, 2025
"Masterpiece from start to finish. The pacing was impeccable and the characters felt incredibly authentic. I was completely immersed. I will undoubtedly revisit this masterpiece."
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James Hall March 15, 2024
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Christopher White
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"A profoundly satisfying read. The author orchestrated a breathtaking finale. Truly a work of art. I will undoubtedly revisit this masterpiece."
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"I thoroughly enjoyed the elegance of it. It held my rapt attention, even when certain twists were telegraphed. I would highly recommend this to discerning readers."
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"Excellent, though slightly flawed. It held my rapt attention, even when certain twists were telegraphed. A wonderful companion for a quiet weekend."
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"Exceeded all my expectations. I became deeply invested in the protagonist's journey. A masterclass in storytelling. A true literary gem."
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"I was completely blown away. I adored how the story unfolded. It kept me captivated without sacrificing elegance. I will undoubtedly revisit this masterpiece."
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