I'm new to smart contracts and I would like to get my head around the concept of "tokens". From what I understand tokens are defined by smart contracts. So one could say, "This token is defined by this contract". However when I look at the functions in each smart contract it looks as if you are able to access info regarding ALL tokens and their owners.
Does this mean that the concept of a "token" is not an instance of the smart contract that defines it but rather an entry within the smart contract? Could the smart contract be sort of "the database" or "log" where all tokens are registered to their owners?