Topic: Difference between Coin and Token (Read 693 times)
If you are not able to tell the difference between tokens and coins when you invest the market, you can easily fall victim to a scam. I think this basic concept has a lot on youtube, you should go there to read and research to understand better than just listening to people's advice. This is the most basic knowledge on the market.
After studying for a long time I finally can distinguish coins and tokens, I used to invest in an ICO but used an ERC20 address, and when I received it turned out to be a token, the easy thing to know is that coin and token is if we want a transaction then the token must use the parent coin for fees transaction.
It's literally just a coin with its own blockchain, and a token that uses someone else's chain, it's that simple, you can't mix that up. Does the thing you are using have its own blockchain or does it use another network of another coin? That is how you could find the difference between them and it is super simple.ETH is a coin, AXS is a token, BNB is a coin, Cake is a token, these are all simple to understand because one of them has its own chain, and the other one is listed under another coins chain network to exist. I personally invest in both of them if they are good, just like how I have both bnb and cake, but people could have different views of course and I respect that.
If you are not able to tell the difference between tokens and coins when you invest the market, you can easily fall victim to a scam. I think this basic concept has a lot on youtube, you should go there to read and research to understand better than just listening to people's advice. This is the most basic knowledge on the market.
Most of the time they seem the same when you first hear them but they are completely different back then when I was doing some bounty task, I always get some rewards from coins, and as for the token rewards, they always epic fail because they always don't reach their desirable hard cap or even soft cap because of the high competition back then. Now we have the Binance blockchain which makes it harder to get paid when doing bounties that are paid with tokens. These are my 2 cents regarding those two and also this is my personal experience.
After studying for a long time I finally can distinguish coins and tokens, I used to invest in an ICO but used an ERC20 address, and when I received it turned out to be a token, the easy thing to know is that coin and token is if we want a transaction then the token must use the parent coin for fees transaction.
In my experience Coin has own Blockchain and also have own block explorer Those coins are Bitcoin, Ethereum,Tron, Solana, Matic, XLM etc and other hand Token are those cryptocurrency which are not based own their Blockchain and build on another Blockchain these cryptocurrency are Back, KUKU, Maxi etc
Your explanation will indeed be easily understood by people who already know basic knowledge about crypto. But for newbies who still lack
knowledge of the crypto world, it may be difficult to distinguish between coins and tokens. Therefore, for newbies, don't rush to invest in crypto
before learning the crypto world properly, especially first understand the basic terms like what blockchain is. After understanding the basics about
crypto, your explanation of the difference between coins and tokens will begin to be understood by newbies. It is true that coins have their own
blockchain, therefore making coins is usually more expensive than making tokens. But since tokens are not created within the blockchain itself
and hitch a ride on the blockchain of a particular coin, of course using tokens must incur a fee every time we make a transaction. That's why many
people are disappointed when Ethereum gas fee fees are so high, because when making transactions using tokens on the ETH network, a large fee
will be charged.
Crypto coins have their own blockchain and are built around a specific community that uses crypto coins for transactions, whereas tokens do not have their own blockchain. On the other hand, tokens don't have that.
Generally, all crypto coin transactions are handled by the blockchain. While tokens through smart contracts. Each blockchain has a number of smart contracts.
The token operates on the crypto coin blockchain. For example, many tokens run on Ethereum. Stablecoins, whose value is usually pegged to the US Dollar, are also part of this category. Tokens are easier to create with smart contracts on top of existing blockchains.
So, it is clear that tokens, and coins have differences in concept.
Generally, all crypto coin transactions are handled by the blockchain. While tokens through smart contracts. Each blockchain has a number of smart contracts.
The token operates on the crypto coin blockchain. For example, many tokens run on Ethereum. Stablecoins, whose value is usually pegged to the US Dollar, are also part of this category. Tokens are easier to create with smart contracts on top of existing blockchains.
So, it is clear that tokens, and coins have differences in concept.
In my experience Coin has own Blockchain and also have own block explorer Those coins are Bitcoin, Ethereum,Tron, Solana, Matic, XLM etc and other hand Token are those cryptocurrency which are not based own their Blockchain and build on another Blockchain these cryptocurrency are Back, KUKU, Maxi etc
Please I would like to know the real difference between a coin and a token as it has to do with blockchain technology.
Main difference between them are- A coin has its own blockchain. Whatever its blockchain is, whatever its algorithm is: either Proof of Work, Proof of Stake, DAG, etc. It has an own blokchain.
- A token does not has its own blockchain. It is built on another blockchain and if that blockchain die, stop working, that token stop working too.
- In other words, tokens are like parasites on other blockchains
Definition of tokens
In short Coins are based on their own Blockchain and they have own Blockchain technology but the tokens are based on the Other Blockchain. As an example we can say Ethereum is a coin and Hex is a token which is based on Ethereum Blockchain.
Hello everyone,
Please I would like to know the real difference between a coin and a token as it has to do with blockchain technology.
Thanks in advance for your kind response.
Coin have working on own Blockchain technology and track all record with buy and sell coins on their Blockchain and all the users use Bitcoin and all the transaction has recordable on their Blockchain and token are available on others Blockchain and use them to make transaction smoothly they have not own Blockchain but works to help others Blockchain technology Please I would like to know the real difference between a coin and a token as it has to do with blockchain technology.
Thanks in advance for your kind response.
coins are usually stronger in terms of fundamentals, have more trust value than the community because in development coins are more difficult and have to be done from scratch. different from tokens where developments can be used by riding from existing networks such as ethereum and Solana.
as far as I know coins are digital assets that have their own blockchain while tokens are digital assets that stand on the blockchain of other parties.
but sometimes most people think they are the same and i think this issue is just a minor issue that is not up for debate.
but sometimes most people think they are the same and i think this issue is just a minor issue that is not up for debate.
Making Tokens is easier than creating Coins, that's why many people are creating so many tokens, compared to Coins, because it's very difficult to make them, and we can see many projects popping up to develop and sell their tokens to investors, but unfortunately it's easy to create tokens become the ground for fraudulent projects, that's why tokens are often misused...
Nothing is hard if you have money. You can just pay some devs to create a crypto for you but that isn't necessary anymore since we already have tons of them and most of them are just useless. Better if we don't contribute our own mess anymore but let us only make this crypto world more clean by supporting only quality projects. the two most common blockchain-based digital assets are cryptocurrencies and tokens
Cryptos and tokens must have their own main use and they aren't specifically built for investing or as an asset but people are already used to this, knowing that their value can also grow over time. Cryptos and tokens shouldn't also be separated when you mentioned it because tokens are still under the cryptos but you can separate an altcoin from a token. 
Coins have a centralized wallet that tokens don't have, if you want to know the difference between Coins and tokens, Examples like Bitcoin, Ethereum, Binance, Tron, Staller, and these coins have their own blockchain, when compared to tokens they can be under the auspices of Ethereum or Binance, you can also use XLM, TRX bases, that's the difference between Coins and Tokens..
It is very simple dear,
Coin: Coin is the native asset of its own blockchain like Binance has its own blockchain so its coin is BNB, Ethereum for Ethereum Blovkchain and so on
Token: : Token is any asset that a user owns, or a project owns that runs on blockchain.
Coin: Coin is the native asset of its own blockchain like Binance has its own blockchain so its coin is BNB, Ethereum for Ethereum Blovkchain and so on
Token: : Token is any asset that a user owns, or a project owns that runs on blockchain.
Ha Ha these two term also confuse me when i am new
COIN - It is all the blockchain coin that you know For Example BitCOIN ,ethCOIN,SolanaCOIN ,DogeCOIN the Coin token is also use to Pay fees when we Swap or buy anything in that particular blockchain example - if you wanted to buy cake token in BSC chain you must had some BNB and so on
TOKEN - A token is something that came in the Blockchain Like Cake is the token of BSC a Coin can Have a lot of Utility or It can be community based Shit Coin
A coin can be mined through a lot of Algorithm technique like POW,POS,POA
so the worst part is if their is any Exploit in Blockchain it will effect the token of that Chain example Remember what happened with Tera luna and their stable coin
To Avoid these Some toke use the Dual blockchain Ecosystem like BNB + MATIC...
Before make an blockchain their is alot of testnet we need to perform to Find Exploits so these process is little time taking and we also have a good amount of knowledge of coding
COIN - It is all the blockchain coin that you know For Example BitCOIN ,ethCOIN,SolanaCOIN ,DogeCOIN the Coin token is also use to Pay fees when we Swap or buy anything in that particular blockchain example - if you wanted to buy cake token in BSC chain you must had some BNB and so on
TOKEN - A token is something that came in the Blockchain Like Cake is the token of BSC a Coin can Have a lot of Utility or It can be community based Shit Coin
A coin can be mined through a lot of Algorithm technique like POW,POS,POA
so the worst part is if their is any Exploit in Blockchain it will effect the token of that Chain example Remember what happened with Tera luna and their stable coin
To Avoid these Some toke use the Dual blockchain Ecosystem like BNB + MATIC...
Before make an blockchain their is alot of testnet we need to perform to Find Exploits so these process is little time taking and we also have a good amount of knowledge of coding
Yes s.r your right coin are enable to the user. To track transaction with the using own their Blockchain technology but other side token hsa no Blockchain technology it's already available on other Blockchain technology. All types of ERC 20 tokens are basis on Ethereum Blockchain technology they using chain to create a token
Yeah right the ERC-20 is the standard for tokens based on Ethereum blockchain and there are many native tokens and whenever you make a transaction you have to pay Gas as fees and you can also track the transactions as record is maintained on the blockchain.Similarly the BEP-20 is the standard for Binance Smart Chain the native blockchain of Binance and there are some tokens listed on them as well.To answer the above can they change the blockchain then yes they can as BNB was officially launched as ERC-20 token but they updated the assets and moved to their own chain.
Where these coins are the only ones that are listed in the exchanges that depend on what network they used but it doesn't have their smart contract that is called, is that right Sir?
So please correct me if these that I am going to mention like Ethereum, Binance, Polygon, Tron, Solana, and Dogecoin are tokens, not coins. For the knowledge of others here in the forum.
Let me clear up a few things, ERC20 is a standard that is implemented within a smart contract and a smart contract exists within a chain/network.
The concept of smart contract standards (ERC20, ERC721, ERC1155, etc) is not the same as the Bitcoin standards in a whole aspect. I am not quite sure what you mean about the exchange question, but, each standard does have its own purpose, and so do platforms that utilize each type of standard. Generally, everything that runs in the network is a smart contract, so it is up to the user/client what they are going to do with it.
Hello everyone,
Please I would like to know the real difference between a coin and a token as it has to do with blockchain technology.
Please I would like to know the real difference between a coin and a token as it has to do with blockchain technology.
Coin - which have own blockchain . And that coin is used as a transaction fee when transferring it .
Example - Bitcoin , Ethereum , Binance Coin , TRON , Polygon (MATIC) , Waves , Solana , XLM , Doge Coin, ADA , Bitcoin Cash , Litecoin, PolkaDot Etc.....
Token - which is create based on another coin's blockchain . And here if that blockchain dies. that token will die then also . So the security of tokens is much less than coins
Example - Shiba inu (it is Binance smart chain + Ethereum based token)
TLM (it is Binance smart chain + Ethereum based token)
CAKE (it is Binance smart chain based token)
DATA (it is Binance smart chain + Ethereum + Polygon based Token )
Note - Which token created by multi chain like ( Ethereum , Bsc , polygon ) Here if any one chain of token dies still the token will be active through other chain
Hello everyone,
Please I would like to know the real difference between a coin and a token as it has to do with blockchain technology.
Thanks in advance for your kind response.
Coins and tokens are two different things. Not only in the name, but the difference between coins and tokens as well as in their function, origin, and benefits.Please I would like to know the real difference between a coin and a token as it has to do with blockchain technology.
Thanks in advance for your kind response.
A crypto coin is a digital asset that is built, stands and runs on its own blockchain network issued directly by the developer of the blockchain protocol.
A crypto token is any digital asset that is created on a blockchain and can be built on another party's blockchain network.
Crypto tokens are created by a project which are then used as payment in order to enjoy the services that the project provides.
Yes s.r your right coin are enable to the user. To track transaction with the using own their Blockchain technology but other side token hsa no Blockchain technology it's already available on other Blockchain technology. All types of ERC 20 tokens are basis on Ethereum Blockchain technology they using chain to create a token
Yeah right the ERC-20 is the standard for tokens based on Ethereum blockchain and there are many native tokens and whenever you make a transaction you have to pay Gas as fees and you can also track the transactions as record is maintained on the blockchain.Similarly the BEP-20 is the standard for Binance Smart Chain the native blockchain of Binance and there are some tokens listed on them as well.To answer the above can they change the blockchain then yes they can as BNB was officially launched as ERC-20 token but they updated the assets and moved to their own chain.
Does that mean the concept of ERC20 and BEP20 is almost the same as that of bitcoin? I'm just asking that, sir.
Where these coins are the only ones that are listed in the exchanges that depend on what network they used but it doesn't have their smart contract that is called, is that right Sir?
So please correct me if these that I am going to mention like Ethereum, Binance, Polygon, Tron, Solana, and Dogecoin are tokens, not coins. For the knowledge of others here in the forum.
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