Those who understand will surely answer the same explanation, and the two most common blockchain-based digital assets are cryptocurrencies and tokens, and the biggest difference between the two is that cryptocurrencies have their own blockchain. And blockchain native assets, like bitcoin or ethereum.
whereas crypto tokens are built on top of an existing blockchain, and tokens can eventually become coins when projects develop their own blockchain and migrate their tokens to a new blockchain as coins.
Topic: Difference between Coin and Token - page 2. (Read 693 times)
Tokens belong to projects created inside other Blockchain networks. However, it should not be forgotten that the fact that they were created on a network does not mean that they cannot have value on that network. For example, the price of digital gold projects indexed to the gold price may be more expensive than the main coin prices of the projects that are currently used in the network (ETH or BNB).
Here we need to evaluate the main difference between Coin and Token together with the Blockchain network. For example, while Bitcoin, Ethereum or Solana is a Coin, they are tokens created on these networks (For example, Maker on the Eth network).
Here we need to evaluate the main difference between Coin and Token together with the Blockchain network. For example, while Bitcoin, Ethereum or Solana is a Coin, they are tokens created on these networks (For example, Maker on the Eth network).
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...
there is a big different between coins and tokens. basically coins are run on their own blockchain while tokens have no their own blockchain. you may have seen erc20 , bep 20 tokens. that means those tokens run on Ethereum or Bsc blockchain. just look bitcoin, bitcoin has it own blockchain and everything runs on bitcoin blockchain. transaction fees are paid with bitcoin. but when you check tokens you have to pay transaction fees by the native coin of the blockchain which they runs on. examples - ethereum or Bnb. i just explained you simply.
The difference between a coin and a token is that every cryptocurrency that has its own digital transaction record on its own blockchain is called a coin.And every cryptocurrency that stores its application data on another's digital record Storing their transaction data on another digital record is called a token.That is, every cryptocurrency that has its own blockchain is called a coin. And every cryptocurrency that has all its data on someone else's blockchain is called a token.
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.
The difference between coins and tokens is as follows.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 is a crypto asset that has its own blockchain, this asset is a crypto currency that is created using encryption techniques so that it can be stored for a long time.
The most famous examples of coins are Bitcoin and Litecoin.
these two crypto assets have their own blockchain, in the blockchain data is stored collectively and shared on their respective networks.
Unlike coins, tokens are a specific type of utility or asset, or sometimes both.
tokens are included in an access of decentralized applications built on blockchain systems.
tokens also have a market value, but technically, tokens are not a currency.
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.
it's very easy to distinguish tokens and coins in the world of cryptocurrencies, you can see them on their website, 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.
if they have their own explorer website then the altcoin is a coin, but if the explorer website doesn't exist then the altcoin is a token,
and I don't think so it's a problem if you want to invest in tokens or coins, because what will make the price go up is their development, not the difference
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The thing that stands out between tokens and coins is that the coin has its own blockchain chain independent of the RPC chain or the chains available in various blockchain chain provider projects. whereas tokens have a blockchain chain that relies on an existing blockchain network such as ETH, BNB, or SOL.
it is the most simple difference.
it is the most simple difference.
This is not the most simple but I give credit to your explanation. Including the RPC term will just make newbie confused on differentiating tokens and coin because not all user is knowledgeable on crypto jargons.
Coins
* Usually the native coin of a blockchain
* Can be mine through PoS or PoW
* Best example here are Bitcoin, Ethereum, Solana and other blockchain native coin
Tokens
* Usually built for decentralized project utility on an existing blockchain
* Offers certain power or utility on a certain project product
* Best example here are Shib, Axs and other token that utility is not for the blockchain
Quote
The TLDR is: Crypto coins are a form of digital currency that are often native to a blockchain, with the main purpose of storing value and working as a medium of exchange.
Crypto tokens are digital assets that are built on top of an existing blockchain (using smart contracts) and can serve a wide variety of functions, from representing a physical object to granting access to platform-specific services and features.
Crypto tokens are digital assets that are built on top of an existing blockchain (using smart contracts) and can serve a wide variety of functions, from representing a physical object to granting access to platform-specific services and features.
Source: https://crypto.com/university/crypto-tokens-vs-coins-difference
Hey
Let me provide some information ℹ️
Coin :
Brought
Sold
Exchanged
Traded
Have a Blockchain
Token :
Brought
Sold
Traded
Not exchanged
Does not have a Blockchain ( since they are built on existing Blockchain)
Can be used as : services, security, shares etc.
For example: a football token !
Read more : https://crypto.com/university/crypto-tokens-vs-coins-difference#:~:text=While%20crypto%20coins%20mimic%20traditional,as%20a%20medium%20of%20exchange.
Let me provide some information ℹ️
Coin :
Brought
Sold
Exchanged
Traded
Have a Blockchain
Token :
Brought
Sold
Traded
Not exchanged
Does not have a Blockchain ( since they are built on existing Blockchain)
Can be used as : services, security, shares etc.
For example: a football token !
Read more : https://crypto.com/university/crypto-tokens-vs-coins-difference#:~:text=While%20crypto%20coins%20mimic%20traditional,as%20a%20medium%20of%20exchange.
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.
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.
Hello. That really is one of the most asked questions of people that are new to cryptocurrencies. As others in this thread have already said, the big and fundamental difference between those two is, that a coin is running on its own blockchain while a token is created on a already existing blockchain.
Therefore it is way easier to create a new token then creating a new coin. To create a new crypto token on Ethereum, BNB chain, Solana or others only takes a few minutes. That is also the reason why all meme coins are
actually tokens and not coins.
Newbie is certainly natural if confused with Token and Koins, I have also felt confusion when I want to invest in ICO in 2017, many projects that use wallets from ETH so that I made a mistake that was using ETH from Coinbase and made me lose token.
The thing that stands out between tokens and coins is that the coin has its own blockchain chain independent of the RPC chain or the chains available in various blockchain chain provider projects. whereas tokens have a blockchain chain that relies on an existing blockchain network such as ETH, BNB, or SOL.
it is the most simple difference.
it is the most simple difference.
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.
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.
When I was still confused, I was also confused about distinguishing Koins and Tokens, but after reading a few articles I already understood, and for the note that Majorits Market and Projects are currently using tokens because it is easier and of course using a tested blockchain network can make investors optimistic.
another opinion
ru.wikipedia
"A token is a non-cryptocurrency unit of account designed to represent a digital balance in some asset[1], in other words, acting as a “substitute for securities” in the digital world[2]. Tokens are a ledger entry distributed on the blockchain."
Many people call money tokens
ru.wikipedia
"A token is a non-cryptocurrency unit of account designed to represent a digital balance in some asset[1], in other words, acting as a “substitute for securities” in the digital world[2]. Tokens are a ledger entry distributed on the blockchain."
Many people call money tokens
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.
Sometimes there are certain terms in the crypto world that are commonly used in the real world, but have a different form from physical objects, such as coins and tokens. The difference with these 2 options you can listen to below.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: Coins are crypto assets that have their own blockchain. This asset is a crypto currency that is created using encryption techniques so that it can be stored for a long time.
Token: A token is an access of a decentralized application built on a blockchain system. Tokens also have a market value, but technically they are not a currency.
Main difference between them are
Definition of tokens
- 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
Thank you so much for this simple and detailed explanation. I have been using cryptocurrencies for a while now and I know that both coins and tokens exist but have never given it any thought to know their difference. Also, I have never for once believe that there is one large difference between tokens and coins. You have revealed this quite well, no wonder when some coins with a fundamental blockchain are strongly buying or selling, their tokens often follow because they are always related.
All cryptocurrencies, including Bitcoin, that have their own separate blockchain are referred to as coins. While Tokens are a special feature of larger smart contracts systems like Ethereum that let users develop, issue, and manage tokens that are variations of the main network.
Ethereum are working own Blockchain technology there are alot tokens are existed on them . Some project are doing list token with the help ERC 20 basis Blockchain technology. And coins are own Blockchain technology where is the all transaction we will track and check the recent activity it's totally different from token base technology
I would advise you to improve English a little bit as I am guessing you are non native speaker of the language judging from your posting style if you want to post on these general boards to make yourself more clear.So you can create your own token and list it on ETH blockchain and it will be termed as ERC-20 token and follow it's standard and you can track each transaction in the block explorer also.
So no one can fraud with other users because we can track all details in deeply so we can use also use ERC 20 Blockchain technology to create new one own token
Frauds and hack can still happen if the token creator decide to rug so don't believe in these things and you can create another token you want and it will be among other shit tokens that don't have any utility for the holders.Yes iam fully trying to improve yourself but my point was cleared and not going anywhere off topic or non native speaker I think you are better than me to understand about crypto industry because iam early stage and could try to understand other people as my potential so yes iam little bit bad to teach other haha
Ethereum are working own Blockchain technology there are alot tokens are existed on them . Some project are doing list token with the help ERC 20 basis Blockchain technology. And coins are own Blockchain technology where is the all transaction we will track and check the recent activity it's totally different from token base technology
I would advise you to improve English a little bit as I am guessing you are non native speaker of the language judging from your posting style if you want to post on these general boards to make yourself more clear.So you can create your own token and list it on ETH blockchain and it will be termed as ERC-20 token and follow it's standard and you can track each transaction in the block explorer also.
So no one can fraud with other users because we can track all details in deeply so we can use also use ERC 20 Blockchain technology to create new one own token
Frauds and hack can still happen if the token creator decide to rug so don't believe in these things and you can create another token you want and it will be among other shit tokens that don't have any utility for the holders. 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.
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