What are crypto tokens? | Bitcointalksearch.org

Jhanzo

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Quote from: btwsm on August 16, 2016, 03:34:55 PM

Quote from: Jhanzo on August 16, 2016, 02:37:08 PM

It's cryptocurrency. Most(all?) cryptocurrencies are digital currency that uses a peer-to-peer system called blockchain. There's actually nothing that makes them similar to coins except the names and logos.

How many are there? Way too many to count.
Best investment? I'd say bitcoin if you're going long.

so what are DAO tokens? are they also currency?

I'm not very familiar with DAO but from what I read they're more like a project that was supposed to work with ETH (a cryptocurrency).

Kakmakr

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If I can simplify without linking it directly to Crypto currencies, I would use the following example : The kids entertainment venues do not use fiat coins in the coin operated games anymore, they switched to tokens. It is still a coin, but it is not minted by the government. It still reflects a certain value.

The Bitcoin token is a digital version of that and even other Alt coins and Ether as you mentioned. They are used to represent a currency value. The Bitcoin token can also be used to represent something else, other than a currency to transfer value. ^smile^

mikehersh2

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And cryptocurrencies are just different types online currency such as bitcoin. Bitcoin is just the one on top right now. However, you can trade certain cryptocurrencies for others.

odolvlobo

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Quote from: btwsm on August 16, 2016, 01:51:52 PM

Hello,

I purchased some ether recently, and today saw a post about investing in crypto TOKENS ~~coins~~. This term I have not heard before (am newb). Can someone please explain how "Tokens" are different than "currency/coins", how many are there? and what is a best investment?

There is no strict definition, but generally the word "token" is used for something that can have value, but is not generally used as money. Typically, a token doesn't have its own block chain and is hosted on another currency's block chain.

Also, a token may represent the value of something else and not have its own value.

For example, ether may be considered as a currency, but an ethereum contract, such as DAO, will have a token.

WiseOldSage

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Quote from: btwsm on August 16, 2016, 01:51:52 PM

Hello,

I purchased some ether recently, and today saw a post about investing in crypto coins. This term I have not heard before (am newb). Can someone please explain how "Tokens" are different than "currency/coins", how many are there? and what is a best investment?

Tokens are coins. One coin (for example 1 Ether) is one token of the respective network.

btwsm

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Quote from: Jhanzo on August 16, 2016, 02:37:08 PM

It's cryptocurrency. Most(all?) cryptocurrencies are digital currency that uses a peer-to-peer system called blockchain. There's actually nothing that makes them similar to coins except the names and logos.

How many are there? Way too many to count.
Best investment? I'd say bitcoin if you're going long.

so what are DAO tokens? are they also currency?

Jhanzo

hero member

Activity: 798

Merit: 506

Thank satoshi

It's cryptocurrency. Most(all?) cryptocurrencies are digital currency that uses a peer-to-peer system called blockchain. There's actually nothing that makes them similar to coins except the names and logos.

How many are there? Way too many to count.
Best investment? I'd say bitcoin if you're going long.

btwsm

newbie

Activity: 5

Merit: 0

Hello,

I purchased some ether recently, and today saw a post about investing in crypto TOKENS ~~coins~~. This term I have not heard before (am newb). Can someone please explain how "Tokens" are different than "currency/coins", how many are there? and what is a best investment?

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