What are Tokens?

Fungible tokens

The term tokens refer to a digital currency or how cryptocurrencies are defined in a specific blockchain environment/project. A token represents a set of rules encoded in a smart contract and belongs to a specific blockchain address, a great example of blockchain tokens would be ETH for Ethereum and BTC for Bitcoin.
Fungible tokens are easily divisible and the items can be divided into any number of units as long as their value remains the same and each token can be exchanged with another non-fungible token of a similar kind.