Currency Token Life Cycle

Currency Token Life Cycle:
The life cycle for each unit of a currency which starts with Issuance, then goes through Transaction, Conversion & Retirement

A currency system defines these stages for its constituent tokens.  Sometimes the rules for a stage may be that no activitiy is allowed in that stage.  For example, most reputation currencies (such as a college degree) cannot be traded/transacted.  All currencies require rules for issuance but may exclude functions of any or all of the latter 3 stages.

  1. Issuance
  2. Transaction
  3. Conversion/Co-Function
  4. Retirement/Redemption