The phrase "a token based on" is correct and usable in written English.
It can be used when referring to a token that is derived from or influenced by a specific source or criteria.
Example: "The game introduced a token based on player achievements, allowing users to unlock special features."
Alternatives: "a token derived from" or "a token influenced by".
To use the developers' language, Bananacoin is a "utility token based on Ethereum, pegged to the export price of one kilogram of bananas".
If you're issuing a utility token based on your work, the SEC would not deem that a security".
The flaw is based on the way Snapchat authenticates users: rather than sending passwords with each picture, it sends an authentication token based on the password and the time.
Over the past 18 months, we have seen the proliferation of stablecoins: tokens that are pegged to and backed by assets, like a fiat currency, gold, or other types including those where an algorithm regulates the supply of the token based on demand.
For the second-stage tagging, we extend the standard feature set used for the first-stage tagging with the following non-local features for each token, based on all identical tokens in the document: (i) most frequent tag, (ii) most frequent non-'O'tag and (iii) first tag in the document.
An entity holds U.S. dollars in a bank account and then issues Tether tokens based on that bank account balance.
Token distributions would be dictated by smart contracts and triggered by quantifiable objectives and metrics, such as community ratings, to allocate tokens based on the amount of value a member contributes to the ecosystem.
Similar to using an in-game currency, contributors could be rewarded with tokens based on the quality of their input.
Gann et al. [28] selected 6,799 tokens based on Twitter data, where each token is assigned a sentiment score, namely TSI(Total Sentiment Index), featuring itself as a positive token or a negative token.
