--- title: "Meaning & Key Takeaway of: Application-specific tokens, or…" description: "\"Application-specific tokens, or app-tokens, are built on top of existing general-purpose blockchains like Bitcoin and Ethereum. For the first time, ope..." image: "https://sms4smile.com/quotes/i/dc6/olaf-carlson-wee-27882_bitcoin_application-specific-tokens-or-app-token_841250.jpg" --- # Application-specific tokens, or app-tokens, are built on… ![“Application-specific tokens, or app-tokens, are built on top of existing general-purpose blockchains like Bitcoin and Ethereum. For the first time, open-source project creators can directly monetize their open-source network.” quote by Olaf Carlson-Wee](https://sms4smile.com/quotes/i/dc6/olaf-carlson-wee-27882_bitcoin_application-specific-tokens-or-app-token_841250.jpg) [Download](https://sms4smile.com/quotes/i/dc6/olaf-carlson-wee-27882_bitcoin_application-specific-tokens-or-app-token_841250.jpg) [Open image](https://sms4smile.com/quotes/i/dc6/olaf-carlson-wee-27882_bitcoin_application-specific-tokens-or-app-token_841250.jpg) > “Application-specific tokens, or app-tokens, are built on top of existing general-purpose blockchains like Bitcoin and Ethereum. For the first time, open-source project creators can directly monetize their open-source network.” [Olaf Carlson-Wee](https://sms4smile.com/quotes/author/olaf-carlson-wee/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. App‑tokens enable creators to monetize directly on existing blockchains, opening new revenue streams. **In simple terms:** App tokens let creators earn on blockchain platforms. Key Takeaway Leverage blockchain to fund projects. Themes blockchain monetization open source Mood innovative optimistic Type technical business When to use this quote - software development - decentralized apps - open‑source projects Key Concepts cryptoeconomics tokenomics Questions to Reflect On - How will you design token incentives? - What risks do creators face? A Different Perspective Regulatory uncertainty may hinder adoption. ★ ★ ★ ★ ★ No ratings yet [App Tokens](https://sms4smile.com/quotes/about/app-tokens-643000/) [Bitcoin](https://sms4smile.com/quotes/about/bitcoin/) [First time](https://sms4smile.com/quotes/about/first-time/) [Like](https://sms4smile.com/quotes/about/like/) [Project](https://sms4smile.com/quotes/about/project/) [Specific Tokens](https://sms4smile.com/quotes/about/specific-tokens-643003/) [Time](https://sms4smile.com/quotes/about/time/) [Tokens](https://sms4smile.com/quotes/about/tokens/) [Tokens App](https://sms4smile.com/quotes/about/tokens-app-643001/) [Tokens Built](https://sms4smile.com/quotes/about/tokens-built-643002/) ## Related quotes > [I view Bitcoin as the more democratic version of money and value transfer because no one controls it... I expect the Internet to be…](https://sms4smile.com/quotes/olaf-carlson-wee/i-view-bitcoin-as-the-more-democratic-version-of-money-and-value/) [Olaf Carlson-Wee](https://sms4smile.com/quotes/author/olaf-carlson-wee/) > [I think the technology will get bigger and the price of Bitcoin will go up, so I'm speculating to increase my purchasing power. But…](https://sms4smile.com/quotes/olaf-carlson-wee/i-think-the-technology-will-get-bigger-and-the-price-of-bitcoin-will/) [Olaf Carlson-Wee](https://sms4smile.com/quotes/author/olaf-carlson-wee/) > [Polychain is investing in blockchain assets. We do not invest in private companies or hold shares in private companies. We invest purely in tokens…](https://sms4smile.com/quotes/olaf-carlson-wee/polychain-is-investing-in-blockchain-assets-we-do-not-invest-in/) [Olaf Carlson-Wee](https://sms4smile.com/quotes/author/olaf-carlson-wee/) > [I've been through a lot of moments when other people thought Bitcoin was going to implode, and in those instances, I generally have seen…](https://sms4smile.com/quotes/olaf-carlson-wee/i-ve-been-through-a-lot-of-moments-when-other-people-thought-bitcoin/) [Olaf Carlson-Wee](https://sms4smile.com/quotes/author/olaf-carlson-wee/) > [Taxes have been complicated. Every single time I spend a Bitcoin, it's a taxable event. It's like I bought and sold an asset. It…](https://sms4smile.com/quotes/olaf-carlson-wee/taxes-have-been-complicated-every-single-time-i-spend-a-bitcoin-it-s/) [Olaf Carlson-Wee](https://sms4smile.com/quotes/author/olaf-carlson-wee/) > [There will be many types of assets codified into the blockchain, and they are all not just going to be on the bitcoin blockchain…](https://sms4smile.com/quotes/olaf-carlson-wee/there-will-be-many-types-of-assets-codified-into-the-blockchain-and/) [Olaf Carlson-Wee](https://sms4smile.com/quotes/author/olaf-carlson-wee/) > [“utility or usage tokens can simplify transaction execution inside of a Dapp. When you go to an amusement park, you typically exchange fiat currency…](https://sms4smile.com/quotes/andrew-j-chapin/utility-or-usage-tokens-can-simplify-transaction-execution-inside-of/) [Andrew J. Chapin](https://sms4smile.com/quotes/author/andrew-j-chapin/) > [Silence is no certain token that no secret grief is there; Sorrow which is never spoken is the heaviest load to bear.](https://sms4smile.com/quotes/frances-ridley-havergal/silence-is-no-certain-token-that-no-secret-grief-is-there-sorrow/) [Frances Ridley Havergal](https://sms4smile.com/quotes/author/frances-ridley-havergal/) > [Do you know when people really become spiritual? It is when they become the slaves of God and are branded with His sign, which…](https://sms4smile.com/quotes/teresa-of-vila/do-you-know-when-people-really-become-spiritual-it-is-when-they/) [Teresa of Avila](https://sms4smile.com/quotes/author/teresa-of-vila/) > [Tokens should not be listed before the start of the operations on the network, platform, or application. This is where many ICO's seem to…](https://sms4smile.com/quotes/william-mougayar/tokens-should-not-be-listed-before-the-start-of-the-operations-on-the/) [William Mougayar](https://sms4smile.com/quotes/author/william-mougayar/) > [In ancient Boeotia brides were carried home in vehicles whose wheels were burned at the door, in token, that they would never again be…](https://sms4smile.com/quotes/thomas-wentworth-higginson/in-ancient-boeotia-brides-were-carried-home-in-vehicles-whose-wheels/) [Thomas Wentworth Higginson](https://sms4smile.com/quotes/author/thomas-wentworth-higginson/) > [A woman with cut hair is a filthy spectacle, and much like a monsterit being natural and comely to women to nourish their hair,…](https://sms4smile.com/quotes/william-prynne/a-woman-with-cut-hair-is-a-filthy-spectacle-and-much-like-a-monsterit/) [William Prynne](https://sms4smile.com/quotes/author/william-prynne/) > [People are all purpose tokens, but you must remember each adds, subtracts, multiplies, divides, integrates... in its unique way. It is difficult and unfair…](https://sms4smile.com/quotes/mariana-fulger/people-are-all-purpose-tokens-but-you-must-remember-each-adds/) [Mariana Fulger](https://sms4smile.com/quotes/author/mariana-fulger/) > [Think about who you are. Think about how nice you can be to another person. By the same token then, to have your own…](https://sms4smile.com/quotes/tommy-wiseau/think-about-who-you-are-think-about-how-nice-you-can-be-to-another/) [Tommy Wiseau](https://sms4smile.com/quotes/author/tommy-wiseau/) > [I mean a real police state just to get a token recognition of a law. It take, it took, I think, 15,000 troops and…](https://sms4smile.com/quotes/malcolm-x/i-mean-a-real-police-state-just-to-get-a-token-recognition-of-a-law/) [Malcolm X](https://sms4smile.com/quotes/author/malcolm-x/) ## More by Olaf Carlson-Wee > [In a world with many blockchains and hundreds of tradable tokens built on top of them, entire industries are automated through software, venture capital…](https://sms4smile.com/quotes/olaf-carlson-wee/in-a-world-with-many-blockchains-and-hundreds-of-tradable-tokens/) [Olaf Carlson-Wee](https://sms4smile.com/quotes/author/olaf-carlson-wee/) > [This is unproven technology, and if you don't know what you're doing, you shouldn't interact with tokens - from an investor and security perspective.](https://sms4smile.com/quotes/olaf-carlson-wee/this-is-unproven-technology-and-if-you-don-t-know-what-you-re-doing/) [Olaf Carlson-Wee](https://sms4smile.com/quotes/author/olaf-carlson-wee/) > [For the first time, entrepreneurs can monetize their own open-source and peer-to-peer network. They can crowdfund and raise money from people across the world…](https://sms4smile.com/quotes/olaf-carlson-wee/for-the-first-time-entrepreneurs-can-monetize-their-own-open-source/) [Olaf Carlson-Wee](https://sms4smile.com/quotes/author/olaf-carlson-wee/) > [There will be many types of assets codified into the blockchain, and they are all not just going to be on the bitcoin blockchain…](https://sms4smile.com/quotes/olaf-carlson-wee/there-will-be-many-types-of-assets-codified-into-the-blockchain-and/) [Olaf Carlson-Wee](https://sms4smile.com/quotes/author/olaf-carlson-wee/) > [It doesn't always make sense to have a token on the blockchain that is both useful and represents ownership - it has to be…](https://sms4smile.com/quotes/olaf-carlson-wee/it-doesn-t-always-make-sense-to-have-a-token-on-the-blockchain-that/) [Olaf Carlson-Wee](https://sms4smile.com/quotes/author/olaf-carlson-wee/) > [Taxes have been complicated. Every single time I spend a Bitcoin, it's a taxable event. It's like I bought and sold an asset. It…](https://sms4smile.com/quotes/olaf-carlson-wee/taxes-have-been-complicated-every-single-time-i-spend-a-bitcoin-it-s/) [Olaf Carlson-Wee](https://sms4smile.com/quotes/author/olaf-carlson-wee/) > [If the Numerai fund performs well, that should lead to more assets under management, which should lead to more revenue for Numerai's general partner,…](https://sms4smile.com/quotes/olaf-carlson-wee/if-the-numerai-fund-performs-well-that-should-lead-to-more-assets/) [Olaf Carlson-Wee](https://sms4smile.com/quotes/author/olaf-carlson-wee/) > [I've been through a lot of moments when other people thought Bitcoin was going to implode, and in those instances, I generally have seen…](https://sms4smile.com/quotes/olaf-carlson-wee/i-ve-been-through-a-lot-of-moments-when-other-people-thought-bitcoin/) [Olaf Carlson-Wee](https://sms4smile.com/quotes/author/olaf-carlson-wee/) > [We are seeing more managed money and, to an extent, institutional money entering the space. Anecdotally speaking, I know of many people who are…](https://sms4smile.com/quotes/olaf-carlson-wee/we-are-seeing-more-managed-money-and-to-an-extent-institutional-money/) [Olaf Carlson-Wee](https://sms4smile.com/quotes/author/olaf-carlson-wee/) > [We are seeing entrepreneurs issuing their own blockchain-based tokens to raise money for their networks, sidestepping the traditional, exclusive world of venture capital altogether.…](https://sms4smile.com/quotes/olaf-carlson-wee/we-are-seeing-entrepreneurs-issuing-their-own-blockchain-based-tokens/) [Olaf Carlson-Wee](https://sms4smile.com/quotes/author/olaf-carlson-wee/) > [Polychain is investing in blockchain assets. We do not invest in private companies or hold shares in private companies. We invest purely in tokens…](https://sms4smile.com/quotes/olaf-carlson-wee/polychain-is-investing-in-blockchain-assets-we-do-not-invest-in/) [Olaf Carlson-Wee](https://sms4smile.com/quotes/author/olaf-carlson-wee/) > [When decentralized blockchain protocols start displacing the centralized web services that dominate the current Internet, we'll start to see real internet-based sovereignty. The future…](https://sms4smile.com/quotes/olaf-carlson-wee/when-decentralized-blockchain-protocols-start-displacing-the/) [Olaf Carlson-Wee](https://sms4smile.com/quotes/author/olaf-carlson-wee/) > [I think the technology will get bigger and the price of Bitcoin will go up, so I'm speculating to increase my purchasing power. But…](https://sms4smile.com/quotes/olaf-carlson-wee/i-think-the-technology-will-get-bigger-and-the-price-of-bitcoin-will/) [Olaf Carlson-Wee](https://sms4smile.com/quotes/author/olaf-carlson-wee/) > [Polychain manages a hedge fund that invests exclusively in digital assets. We invest exclusively in protocols, not companies, and we do this by investing…](https://sms4smile.com/quotes/olaf-carlson-wee/polychain-manages-a-hedge-fund-that-invests-exclusively-in-digital/) [Olaf Carlson-Wee](https://sms4smile.com/quotes/author/olaf-carlson-wee/) > [For the first time, open source, peer-to-peer protocol developers can monetize their project on a protocol level.](https://sms4smile.com/quotes/olaf-carlson-wee/for-the-first-time-open-source-peer-to-peer-protocol-developers-can/) [Olaf Carlson-Wee](https://sms4smile.com/quotes/author/olaf-carlson-wee/) [Explore all 20 Olaf Carlson-Wee quotes ](https://sms4smile.com/quotes/author/olaf-carlson-wee/) ## More Bitcoin quotes > [The bitcoin network is not a payments network and it is not a scaling network.](https://sms4smile.com/quotes/sam-bankman-fried/the-bitcoin-network-is-not-a-payments-network-and-it-is-not-a-scaling/) [Sam Bankman-Fried](https://sms4smile.com/quotes/author/sam-bankman-fried/) > [I had been exposed to bitcoin early. I thought the consumer application of it felt, to me, further away. I thought there would be…](https://sms4smile.com/quotes/brad-garlinghouse/i-had-been-exposed-to-bitcoin-early-i-thought-the-consumer/) [Brad Garlinghouse](https://sms4smile.com/quotes/author/brad-garlinghouse/) > [In 2008, Bitcoin was mysteriously introduced to the world in an obscure, technical paper written under the pseudonym Satoshi Nakamoto. By late 2013, the…](https://sms4smile.com/quotes/steve-hanke/in-2008-bitcoin-was-mysteriously-introduced-to-the-world-in-an/) [Steve Hanke](https://sms4smile.com/quotes/author/steve-hanke/) > [We need to come up with use cases for this technology that drive clear benefits for individuals and institutions - these are our customers.…](https://sms4smile.com/quotes/abigail-johnson/we-need-to-come-up-with-use-cases-for-this-technology-that-drive/) [Abigail Johnson](https://sms4smile.com/quotes/author/abigail-johnson/) > [Sir Richard Branson started out as a small business owner and now owns a conglomerate that will give you a ride to the moon.…](https://sms4smile.com/quotes/perianne-boring/sir-richard-branson-started-out-as-a-small-business-owner-and-now/) [Perianne Boring](https://sms4smile.com/quotes/author/perianne-boring/) > [Exchanging bitcoin on behalf of ransomware victims should not be construed as criminal activity by the exchanger, not as a matter of law nor…](https://sms4smile.com/quotes/perianne-boring/exchanging-bitcoin-on-behalf-of-ransomware-victims-should-not-be/) [Perianne Boring](https://sms4smile.com/quotes/author/perianne-boring/) > [Until part of your paycheck is regularly paid in Bitcoin, I'm not sure how it would really go mainstream. I can imagine places in…](https://sms4smile.com/quotes/gavin-andresen/until-part-of-your-paycheck-is-regularly-paid-in-bitcoin-i-m-not-sure/) [Gavin Andresen](https://sms4smile.com/quotes/author/gavin-andresen/) > [Calling bitcoin volatile - it's a non-statement. Unregulated assets with unclear regulatory landscapes are always going to be volatile. That's what unregulated assets do.](https://sms4smile.com/quotes/tyler-winklevoss/calling-bitcoin-volatile-it-s-a-non-statement-unregulated-assets-with/) [Tyler Winklevoss](https://sms4smile.com/quotes/author/tyler-winklevoss/) > [We see bitcoin as potentially the greatest social network of all.](https://sms4smile.com/quotes/tyler-winklevoss/we-see-bitcoin-as-potentially-the-greatest-social-network-of-all/) [Tyler Winklevoss](https://sms4smile.com/quotes/author/tyler-winklevoss/) > [As the platform and protocol become more ingrained in society, get built into products and services, and basically become more of the mesh of…](https://sms4smile.com/quotes/barry-silbert/as-the-platform-and-protocol-become-more-ingrained-in-society-get/) [Barry Silbert](https://sms4smile.com/quotes/author/barry-silbert/) > [Bitcoin is not “unregulated”. It is regulated by algorithm instead of being regulated by government bureaucracies. Un-corrupted.](https://sms4smile.com/quotes/andreas-antonopoulos/bitcoin-is-not-unregulated-it-is-regulated-by-algorithm-instead-of/) [Andreas Antonopoulos](https://sms4smile.com/quotes/author/andreas-antonopoulos/) > [The rudest possible gift is a gift card. It means you think the person is stupid and has no interests. The only good gift…](https://sms4smile.com/quotes/john-waters/the-rudest-possible-gift-is-a-gift-card-it-means-you-think-the-person/) [John Waters](https://sms4smile.com/quotes/author/john-waters/) > [If the U.S. government tries to restrict or clamp down, that just means there will be many more bitcoin businesses in Hong Kong and…](https://sms4smile.com/quotes/roger-ver/if-the-u-s-government-tries-to-restrict-or-clamp-down-that-just-means/) [Roger Ver](https://sms4smile.com/quotes/author/roger-ver/) > [What bitcoin does better than the current financial system is it's a better stored value globally. There are a lot of countries that really…](https://sms4smile.com/quotes/adam-draper/what-bitcoin-does-better-than-the-current-financial-system-is-it-s-a/) [Adam Draper](https://sms4smile.com/quotes/author/adam-draper/) > [You really want some natural way for people to get Bitcoins, as part of their paycheck or some other activity so they can turn…](https://sms4smile.com/quotes/gavin-andresen/you-really-want-some-natural-way-for-people-to-get-bitcoins-as-part/) [Gavin Andresen](https://sms4smile.com/quotes/author/gavin-andresen/) [Browse all 364 Bitcoin quotes ](https://sms4smile.com/quotes/about/bitcoin/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "Application-specific tokens, or app-tokens, are built on top of existing general-purpose blockchains like Bitcoin and Ethereum. 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