TokenScript creates a The Token Layer: A Data/Event Driven, and Context-based layer between the blockchain and the user. On this layer, token are the basic unit to structure the interaction between users and blockchains.
TokenScript consists of two parts:
- TokenScript Engine, which works in the user's wallet, on the web or in a browser plugin. The TokenScript Engine provides the runtime environment for tokens to be used on 3rd party websites.
TokenScript files are signed by the creator of the token smart contract or a trusted source with a public key. Wallets and dApps can import and verify the files and make sure users only get authorized TokenScripts from trusted sources.
TokenScript is blockchain agnostic. The main focus of our development is based on Ethereum token. But it can be adopted to other blockchains and even combine token and interactions of different blockchains. TokenScript is not a standard for token, but a standard for a Token Layer, which enables wallets and apps and websites to work with any non-standardized token as easy as with ERC token.
|Wallets||without TokenScript||with TokenScript|
|Understand token specific smart contracts||no||yes|
|can create token specific transactions||no||yes|
|know the token specific history with all details||no||yes|
|executes offchain operations of a token||no||yes|
|unlock token specific mini dapps||no||yes|
|implements token specific rules||no||yes|
|can import magic links||no||yes|
|can trigger attestation processes and attestated transactions||no||yes|
|display validated information about a token||no||yes|
|render token appearance depending on the context||no||yes|
|combine several token for customized operations||no||yes|
For Token Issuers
TokenScript enables token issuers to leave the restrictions of smart contracts behind. It allows to add a lot of information, even image files or API lookups to a token, and design a set of business rules and interaction logics for it, including attestations and structured interactions with other tokens.
Moreover, with TokenScript token issuers can easily and securely update the token rules.
For wallets, TokenScript levels up their capability as the user agent for blockchain interactions. Currently most dApps require a third party website to interprete the state of the blockchain and to craft smart contract transactions. When a wallet imports TokenScript, it learns to fully understand the smart contract and craft the required transactions.
Furthermore, TokenScript allows Token issuers to design the token GUI in the wallet, create all kind of complex transactions and append offchain functions. With TokenScript, any token can unlock custom mini apps in the wallet.
For Web and app developer
Web and app developers can deploy TokenScript into their app. It allows them to securely integrate the full scope of token functionality and to trigger specific token related actions in the user wallet. Without TokenScript they would need to deeply understand blockchain and smart contracts and invest a lot of work to integrate every single token. With TokenScript only a very basic knowledge is required.