🔥 Essential blockchain knowledge: gold tokens
An on-chain ledger can only prove who holds the tokens. To know whether the vault contains enough gold bars, you need to check the attestation reports and the issuer’s compliance and credibility.
Before holding gold tokens, find out who the issuer is, where the gold bars are stored, and how often attestation reports are issued.
$PAXG : Each token represents 1 troy ounce of physical gold stored in a London vault. Current price: 4161.77.
In what context did you first figure this out?
#PAXG
An on-chain ledger can only prove who holds the tokens. To know whether the vault contains enough gold bars, you need to check the attestation reports and the issuer’s compliance and credibility.
Before holding gold tokens, find out who the issuer is, where the gold bars are stored, and how often attestation reports are issued.
$PAXG : Each token represents 1 troy ounce of physical gold stored in a London vault. Current price: 4161.77.
In what context did you first figure this out?
#PAXG