Benefit of using TokenScript

TokenScript lets tokens do so much more. It gives you several benefits in usability, maintenance, interoperability and security. These benefits will mean different things for your business, user or if you are a developer or service provider.

This page assumes you have some understanding of blockchain, smart contracts and tokens. Read more about what a token is here.

benefits of using TokenScript for your business

Improve user experience for your users

For token holders and users, TokenScript gives the tokens an UI they can interact with, enabling a richer, native-like experience directly from the tokens.

As a business, you can add information to tokens (even image files or API lookups), and design a set of business rules and interaction logic for it, including attestations and structured interactions with other tokens. On-chain and off-chain.

TokenScript will instruct how the wallet is to represent the token: the icon, the specific information, API queries, what native operations it should express with buttons, and much more.

In case of browser or host failure, users can still access the underlying dapp functionality through their tokens.

Update and maintain tokens

Businesses can upgrade their offerings without compromising maintenance efforts and cost. Tokens can easily be maintained, with all updates syncing retroactively with previously issued tokens.

As a web or app developer, this also means a dapp can be upgraded independently of all the tokens it supports, as TokenScript allows the dapp to interact with its interface instead of directly accessing smart contracts. 

Additionally, it eliminates the need to update the dapp whenever the business logic of particular token changes.

Front-end security and privacy

The backend of DApps are decentralised and trust-less, but the front-end is as centralised and trusted as traditional websites.

TokenScript allows tokens to not compromise the security enabled by the blockchain at the user level. When used by a User through a user agent (such as a DApp browser), TokenScript visually renders the token and provides trustworthy assembling of transactions related to the token.

Additionally, TokenScript files are signed and verified by the creator of the token smart contract, or a trusted source.

TokenScript adds a layer of privacy when dealing with public, smart contracts as well.

Interoperability between blockchains, servers and tokens

Because of how tokens are accessed, rendered and transacted across dapps/smart contracts is scattered, they are limited in their functionality.

TokenScript gives a common XML/JS language for tokens. It allows tokens to interact with either blockchain, private servers or with other tokens. When used by a market or token-related service, it allows the token to be correctly rendered and provides the utility logic of the token.

Some operations of your token might require that the user holds another token. For example, a car sharing token might need you to own a car token and an insurance token. TokenScript defines and structures these integrations.

Blockchain agnostic

TokenScript is blockchain agnostic. It can be adapted to other blockchains, and even combine token and interactions of different blockchains.

TokenScript for Developers

TokenScript is a framework for JavaScript and XML markup which allows the creator of a token, or a trusted authority, to declare properties and utilities for the token.

AlphaWallet is the first ethereum wallet to fully support the TokenScript framework. 

To learn more about how you can use TokenScript, you can visit our repository here, or read the available documentation

Talk with us

To learn what else TokenScript can do for you, and how to best implement with your use case, reach out to us.

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