Another way I like to explain in simple terms is that coins are generally generated or "mined", with every addition of a new block on its blockchain. These stay in circulation.
Tokens are generally created all at once, its entire supply at the same time. They are distributed, not mined.
Topic: Difference between cryptocurrency coins and tokens - page 2. (Read 576 times)
Hello!
I am a little unsure here yet, so that's why I am posting it here - I just need some clarification. The main question here is - are coins and tokens the same thing or not?
From what I've read, I understand it like this:
It is correct, but not all tokens are made using the ethereum platform, some token has been created using waves platform etc. And has been operating with also different purpose as other coin does.I am a little unsure here yet, so that's why I am posting it here - I just need some clarification. The main question here is - are coins and tokens the same thing or not?
From what I've read, I understand it like this:
The main difference between coins and tokens in the fact that coins have their own blockchain, and the tokens are based on Blackeye coins. For example, LTC, BTC, XMR and ETH icey your own blockchain and by this they coins. CND, PPP, BMC is based on Ethereum and it's tokens.
Hello!
I am a little unsure here yet, so that's why I am posting it here - I just need some clarification. The main question here is - are coins and tokens the same thing or not?
From what I've read, I understand it like this:
Bitcoin, Ethereum, LTC, monero, dash etc. - cryptocurrency, coins, a medium of exchange, digital money
Tokens - they are based on Ethereum blockchain and they are adhering to a certain set of standards called ERC20, examples of those ERC20 tokens would be Gnosis, Golem, Aragon, OmiseGO etc. - all the cryptos that are kinda like derivatives of Ethereum and hence they are called tokens.
Now, these tokens, they are not used as a digital money like BTC or ETH, instead they have their own other purpose as a medium of exchange - for example Aragon is used to manage organizations and companies, and Augur is related to prediction markets, Civic is a tool for identity verification based on blockchain. So, these tokens are not exactly money, they are different tools for different purposes based on the blockchain technology. They have the price (the value) though.
Do I get the concept right here? If I am mistaken anywhere, please feel free to correct me and help me to come closer to understanding.
I am a little unsure here yet, so that's why I am posting it here - I just need some clarification. The main question here is - are coins and tokens the same thing or not?
From what I've read, I understand it like this:
Bitcoin, Ethereum, LTC, monero, dash etc. - cryptocurrency, coins, a medium of exchange, digital money
Tokens - they are based on Ethereum blockchain and they are adhering to a certain set of standards called ERC20, examples of those ERC20 tokens would be Gnosis, Golem, Aragon, OmiseGO etc. - all the cryptos that are kinda like derivatives of Ethereum and hence they are called tokens.
Now, these tokens, they are not used as a digital money like BTC or ETH, instead they have their own other purpose as a medium of exchange - for example Aragon is used to manage organizations and companies, and Augur is related to prediction markets, Civic is a tool for identity verification based on blockchain. So, these tokens are not exactly money, they are different tools for different purposes based on the blockchain technology. They have the price (the value) though.
Do I get the concept right here? If I am mistaken anywhere, please feel free to correct me and help me to come closer to understanding.
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