The reason Bitcoin & Ethereum are surging 💰📈

An explainer on tokens, including blockchain product recommendations from Naval Ravikant

The blockchain is arguably the most disruptive social idea since the internet itself. In the past few weeks, the price of digital assets like Bitcoin and Ethereum has started to reflect it. While this incredible run-up is partly caused by investor speculation, it’s only now that we may have found the killer use case for cryptocurrencies and the underlying blockchains.

Tokens: Kickstarter on Steroids

Tokens or “appcoins” are scarce digital assets powered by the underlying technology that made Bitcoin possible. While they do not represent equity in a company, appcoins have transformed the traditional methods of financing technology companies today. For example, Product Hunt could launch “KittyCoins” to finance operations directly from the community. Another example is how the Brave Browser team just raised $30M for their Basic Attention Token ICO in 24 seconds (you read that correctly).

Balaji S. Srinivasan wrote a must-read article on the topic, explaining that while we’re in the early days today, tokens will transform the technology of tomorrow.

Both Balaji and Naval Ravikant took the time to answer some of the Product Hunt community’s blockchain related questions.