A Token is a digital asset that operates on a parent blockchain or on another digital asset's blockchain because it doesn't have a blockchain of its own. The term \"token\" also tends to describe almost all other cryptocurrencies other than Bitcoin and Ethereum, the two largest cryptocurrencies in existence today. Tokens have multiple purposes and use cases
Example
“The project launched its governance token on the Ethereum blockchain as an ERC-20 token, giving holders voting rights over protocol upgrades.”