Differenciate of Token and Coins ? | Bitcointalksearch.org

Oilacris

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Quote from: qwirtiii on May 22, 2018, 03:32:20 AM

Can i ask what is the different of altcoins,token and coins. Is this all the same ?

Had been already mentioned above but for the sake of answering on your queries then i do still answer it.

Altcoin- any other cryptocurrency besides bitcoin is considered to be the one.
Coins- Crypto with having its own blockchain
Token- Relying on other platform or just simply using up other coins chain

But on general sense on my part, they are all the same. Cool

kryptqnick

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Quote from: qwirtiii on May 22, 2018, 03:32:20 AM

Can i ask what is the different of altcoins,token and coins. Is this all the same ?

Altcoins are all cryptocurrencies except bitcoin. They are an alternative to the most famous one, so alts. Coins and tokens are harder to distinguish. Coins are again mainly all of the cryptocurrencies, but of course one could also speak about coins of any fiat in a way. Token is a kind of a crypto-project, which is based on the already existing blockchain platform. Most of tokens are based on ethereum blockchain and more specifically are erc20 tokens. Both coins and tokens can be traded and stored in wallets. I think some people already wrote similar answers, but I guess it makes sense to see them in different formulations to have a better idea.

onnz423

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According to the current nomenclature, a coin is a cryptocurrency that is currently running on its own blockchain, for example NEO, ETH and BTC are all coins because they run on their own network. A token is something that piggybacks on another negwork, e.g. ERC-20 or ERC-223 tokens, these are not full fledged cryptocurrencies, but many plan to make the jump to a proprietary network at some point.

khufuking

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Coin : is a cryptocurrency that have its own blockchain and act as standalone currency, it is usually but not always aim to be a way of payment .

Tokens : they are not cryptocurrency per say , they are usually a projects that rely on other blockchain and and in my opinion an easy way to collect money for startup projects . They are usually a utility tokens that are used locally .

Altcoins : is everything not Bitcoin simple as that, so all coins and tokens are altcoins .

loofers

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The difference between token and coin is,coin referred to blockchain and into crypto currency while token hope on massive grow or improvement of other related coins

incomefromcoins

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tokens are just now listed coins in exchanger and where are coins are established coins in market but both have potential to grow in market

kimochidesh

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If a cryptocurrency can work independently, that is, it has its own rules, blockchain network, and governing structure; it can be categorized as a ‘coin’.
If a cryptocurrency does not work independently, rather it depends on blockchain network of some other cryptocurrency to work; it is classified as a ‘token’. Every transaction of a token is also a transaction on the parent network, but the parent network has its own coin also

ronsaldo

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I think the difference between coins and tokens is ; the tokens are only contracted to erc20 platform while coins have their own wallets and platforms.

hulla

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I will make this simple for you to understand.
Firstly, I will start from Coin are crypto currency that process there transaction there own block chain and block explorer.
Altcoins are any others crypto currency which is not bitcoin and they are called altcoin because they follow, copy and edit the protocol led by bitcoin creator.
Token are crypto currency which act and rely on another crypto currencyvblock chain and block explorer base on the both side agreement or contract.

LogitechMouse

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A coin like Bitcoin, made by making variations in the original Bitcoin’s code like Litecoin, Namecoin etc. can be termed coins. These are also referred to as ‘altcoins‘ because they are an alternative to Bitcoin with an aim to have usecase similar to Bitcoin.

These coins are also sometimes referred to as cryptocoins or cryptocurrencies but when you fundamentally know the concept of tokens you will understand that not all the coins listed on CoinMarketCap are actually coins.

A token is a kind of cryptocurrency (without a currency usecase), that is usually issued on top of another blockchain. Generally, in any usecase, tokens represent utility or an asset, or sometimes both.

For example, consider Golem project which has GNT tokens. Golem or GNT tokens are hosted on Ethereum’s blockchain and Ether (ETH) is the primary currency (or fuel) for the entire Ethereum blockchain.

Source: https://coinsutra.com/coin-vs-token-difference-cryptocurrency/

In short, coins have their own blockchain while token is based on another blockchain. Like the ERC20 tokens. They are based on Ethereum network.

qwirtiii

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Can i ask what is the different of altcoins,token and coins. Is this all the same ?

Topic: Differenciate of Token and Coins ? (Read 146 times)