Bryan
Bryan

IOU (token)

Definition of IOU

IOU is an abbreviation of ‘’I Owe You’’. An IOU is a kind of token issued on the blockchain by a party, which represents the same value as the underlying assets. 

IOU used in a sentence

‘’IOUs are nothing more than scribbled notes that people use to remind themselves that they owe a debt at a later period.’’

‘’Currently, XPUNK tokens are being used as a sort of minting pass to later redeem the NFT’s when the XRPL gets updated to XLS-20D. They are issued as being an IOU token.’’

‘’An IOU is a token created on the blockchain that represents the same value as the underlying asset in modern finance, blockchain and cryptocurrency.’’

History/information/research of IOU

More information regarding the term IOU: Article

And we wrote an article about the technicalities of IOU tokens on the XRPL: Article

Bryan
Bryan

Bryan indulges in every bit of crypto-related news and material he can lay his hands on. As such, he often shares his views and advice through the onXRP content platform. He is a firm believer in crypto’s potential in the financial and economic world. With 5 years of experience in investing and trading Bryan brings excellent insights to the table. He is excited to bring much of this knowledge and many of his skills to the onXRP platform.