Can I transfer my Tokens?

Tokens can be transferred to different wallets (or other parties) using blockchain technology. When you purchase a token on a blockchain-based platform, such as Ethereum, it will be transferred to your wallet. Specific tokens will be developed on certain platforms, meaning that they cannot be transferred onto another platform.

An example of this would be if you purchased a non-fungible token (NFT) created on the Ethereum network. This NFT could be easily sent to other people on the network, requiring only the receiver’s wallet address. However, transferring an Ethereum-based NFT to another network would not be possible, as it will have been built using entirely different technology.

Can Tokens exist on private blockchains?

Finally, tokens can (and do) exist on private blockchains. They work in the same way as they do on public blockchains, with the critical difference being that private tokens are not recognised within the context of public blockchains and vice versa. Public and private blockchains tend not to be connected, meaning tokens can only be issued and transferred on one blockchain type.