Can anybody please differentiate between tokens and coins?
coin is a Cryptocurrency which operates independently of any other platform. For eg. Bitcoin, Dash and Litecoin. A token is a cryptocurrency which requires another platform, such as Ethereum, to exist and operate. Coins are standalone cryptocurrencies that do not require another platform to run, whereas tokens are actually built on other platforms and they exist on that platform.
Topic: What about Token or Coins? (Read 196 times)
Tokens are a representation of a particular asset or utility, which usually resides on top of another blockchain.
Coins are generally used in the same way as a reallife coin is as money. You can think of coins like Bitcoin, Litecoin , dogecoin
Coins are generally used in the same way as a reallife coin is as money. You can think of coins like Bitcoin, Litecoin , dogecoin
Tokens and coins were almost the same, at some point of nomenclature this gets correlated. Apart from this the clear description is the one functioning on its own platform is the coin and the one getting developed on other platform is terms of be token. Even some tokens got transformed to coin upon reaching certain trading volume.
Can anybody please differentiate between tokens and coins?
There are a lot of topics about their difference. I personally like this oneShortly speaking: "Coins are just method of payment while tokens may present a company’s share, give access to product or service and perform many other functions. Coins are currencies that can be used for buying and selling things. You can buy a token with a coin, but not vice versa. Coin operates independently, while token has a specific use in the project’s ecosystem."
Their names are different at each stage
When differentiating between Coin nod token, it just comes down to functionality and form. A coin usually means it's a true currency to be used for payment whereas a token typically has more functionality. You can read more about it in our blog post:
Bit.ly/CoinsVsTokens
Hope this helps!
Bit.ly/CoinsVsTokens
Hope this helps!
Thanks brothers... got it now!!
Tokens are the value that represents the stakes you have in a project. Is issued during initial coin offering. It is this tokens that become coins after it is listed on exchange.
Can anybody please differentiate between tokens and coins?
coin is a Cryptocurrency which operates independently of any other platform. For eg. Bitcoin, Dash and Litecoin. A token is a cryptocurrency which requires another platform, such as Ethereum, to exist and operate. Coins are standalone cryptocurrencies that do not require another platform to run, whereas tokens are actually built on other platforms and they exist on that platform.
If I'm correct the term tokens is usually used with an ICO. You invest ETH or NEO or another currency and you receive x tokens.
Once the ICO is over and the tokens are released and tradable they are usually called coins.
Once the ICO is over and the tokens are released and tradable they are usually called coins.
Can anybody please differentiate between tokens and coins?
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