Topic: Difference between coins and tokens... - page 2. (Read 393 times)
Really good question, because most people think that there is no difference at all. But the difference is that coin have it's own Blockchain.
Haha it's almost always me everyday. Actually, I also regretted selling my pennies and it was x2, x3 for a short time. I know I was too hasty because of the money's draw. That is hardly anyone can resist. That deep, I draw a lot of experience and the best is still hold for a long time
i think the difference of these two is, tokens are made/creates under the smart contract of each blockchain which you can find to all decentralized flatform like Ethereum, waves and so on, while Coins is the main crypto of each blockchain like BTC, Ethereum, LTC, XMR and so on.
A simple explanation based on what I understood is that most coins are still not in the market and is not yeat ready for trading. Which sometimes or mostly are used in payments of such transactions on ICO's. While coins are already established one with there own blockchains used also for tading purposes of which tokens might develop on during ICO.
Tokens have a wider functionality than coins, which act as payment means. ICO, which releases tokens, usually has some special purpose for using them
Ethereum is a platform, with it’s own blockchain and Ethereum’s “coin” or better put currency is Ether. Ethereum is similar to Bitcoin in that Bitcoin also uses a blockchain data structure but has it’s own currency called Bitcoin.
A “token” by definition is a representation any fungible tradible good such as currency, loyalty points, gold certificates, in game items and more.
The idea of a token itself is niether exclusive to Ethereum nor any other platform. A token is really an abstraction. It represents that I own a underlying tradable asset.
Currently the Ethereum space is very hot with ICOs which are really token offerings. These tokens represent an exchange medium within the project. For example, Golem Project pays app developers who publish on the platform and CPU renters in GNT
Because GNT represents the internal medium of exchange in the golem project, people who want to participate in this ecosystem must have GNT.
If someone wants to buy GNT but only has ETH, they can offer to trade their currency ETH for my GNT at a price say 0.5ETH / GNT.
In a more real life example. You pay $2 at a pinball machine effectively exchanging your currency for 3 pin balls (tokens) to be used to play within the pinball game.
A “token” by definition is a representation any fungible tradible good such as currency, loyalty points, gold certificates, in game items and more.
The idea of a token itself is niether exclusive to Ethereum nor any other platform. A token is really an abstraction. It represents that I own a underlying tradable asset.
Currently the Ethereum space is very hot with ICOs which are really token offerings. These tokens represent an exchange medium within the project. For example, Golem Project pays app developers who publish on the platform and CPU renters in GNT
Because GNT represents the internal medium of exchange in the golem project, people who want to participate in this ecosystem must have GNT.
If someone wants to buy GNT but only has ETH, they can offer to trade their currency ETH for my GNT at a price say 0.5ETH / GNT.
In a more real life example. You pay $2 at a pinball machine effectively exchanging your currency for 3 pin balls (tokens) to be used to play within the pinball game.
maybe the coin is built from scratch by performing complex coding. while for tokens do not need to create new blockchain from scratch simply create a template from a blockchain eg ethereum platform, and the process can occur with the existence of smart contract. only limited seoerti that I have ever heard ..
Coin have there own blockchain and it is used in the market for trading.Tokens develop on any coin blockchain which we get as a reward for doing bounty campaign of the project.
All coins have their own blockchain. Perhaps this is the only thing that distinguishes them from each other
• Altcoins
Coins (Alternative cryptocurrency) They’re often used interchangeably. Altcoins usually simply refers to coins that are an alternative to Bitcoin. The majority of altcoins are a variant (fork) of Bitcoin, built using Bitcoin’s open-sourced, original protocol with changes to its underlying codes, therefore conceiving an entirely new coin with a different set of features.
• Tokens
Tokens are a representation of a particular asset or utility, that usually resides on top of another blockchain. Tokens can represent basically any assets that are fungible and tradeable, from commodities to loyalty points to even other cryptocurrencies!
• The main difference between altcoins and tokens is in their structure; altcoins are separate currencies with their own separate blockchain while tokens operate on top of a blockchain that facilitates the creation of decentralized applications.
Coins (Alternative cryptocurrency) They’re often used interchangeably. Altcoins usually simply refers to coins that are an alternative to Bitcoin. The majority of altcoins are a variant (fork) of Bitcoin, built using Bitcoin’s open-sourced, original protocol with changes to its underlying codes, therefore conceiving an entirely new coin with a different set of features.
• Tokens
Tokens are a representation of a particular asset or utility, that usually resides on top of another blockchain. Tokens can represent basically any assets that are fungible and tradeable, from commodities to loyalty points to even other cryptocurrencies!
• The main difference between altcoins and tokens is in their structure; altcoins are separate currencies with their own separate blockchain while tokens operate on top of a blockchain that facilitates the creation of decentralized applications.
I think that there is no big difference because Both are traded on exchanges and children are paid for Bounty of the company unless something Ten performs some of its more important role and the coin may not make sense
Hello everyone! as i read through the coin market is saw that there's a different window for the token market and coin market which made me wonder if there's a difference. Right now, EOS leads the tokens while BTC leads the coins. I hope someone could explain this to me simply.
Ethereum is a coin and all Altcoins that is ERC20 are tokens because it is using Ethereum's Blockchain core and smart contract and the top token that has more value is EOS. EOS and other ERC20 will be called tokens and the core blockchain will be called coins like Ethereum, NEO, Ripple, Waves and other main core blockchain in the market.
Coins have their own blockchain, tokens are on platform.
For example Ethereum is a coin and on his blockchain we have many integrated tokens.
For example Ethereum is a coin and on his blockchain we have many integrated tokens.
The biggest difference between coin and token is coins have their own blockchain but tokens develop on any other coins blockchain, like ERC-20 tokens, they develop on Ethereum blockchain.
Hello everyone! as i read through the coin market is saw that there's a different window for the token market and coin market which made me wonder if there's a difference. Right now, EOS leads the tokens while BTC leads the coins. I hope someone could explain this to me simply.
Tokens are usually associated with the ERC-20 system.Coin are usually built from scratch, they don't need to rely on Ethereum.
Hello everyone! as i read through the coin market is saw that there's a different window for the token market and coin market which made me wonder if there's a difference. Right now, EOS leads the tokens while BTC leads the coins. I hope someone could explain this to me simply.
In my own perception the different between the words token and coins is that we called those things a token if this given to you a part of your incentive or bonus being an appreciation to your contribution in there platform or fields and its is no contract address,symbol and decimal,while on the other hand we called its coin if there is an aggreement between the platform and the exchange trading and have a contract address in the trading site,symbol and decimals.
Hello everyone! as i read through the coin market is saw that there's a different window for the token market and coin market which made me wonder if there's a difference. Right now, EOS leads the tokens while BTC leads the coins. I hope someone could explain this to me simply.
As I understand, a coin is strictly a currency that can be traded, and accepted by people buying and selling things if those buyers and sellers choose to accept the coin. And a coin has its own blockchain as well.
But a token is something that can be built on another platform, like Ethereum based or ERC20 wallet (Myetherwallet) and a token actually plays role within the business operations and transactions of the company that issues it.
An asset is being called tokens when it is under development or.it is in an ICO phase,commonly these tokens will be converted to a coin if the developers are ready to have a public sale or if it is going to be listed.in n exchange,it is almost the same thing with some differences,if.you bought your tokens in pre-ICO and ICO sales you can get it converted to a coin if it.is listed in an exchange,and that is the main idea of tokens/coins.
according to my knowledge Coins have their own blockchain chain for their functions.But tokens are build on another coins platform like ethereum,next,neo etc.lot of tokens build on Ethereum platform because of flexibility.
Fully agreed. Coins with own blockchains. Tokens - on platforms. It's conventional classification. How to get - bounty or buying is not important. It is qualitative difference!I also understand roughly the same. I just need to hunt for bounty and get a token or coin. Not interested in its technology.
a crypto coin is a coin, or means of payment, whilst a token has wider functionality. Simply put, Coin equals money token equals everything else. Coins are independent cryptocurrencies that do not require another platform to run, while Tokens are actually built on other platforms and they exist on that platform.
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