Topic: What is the difference between a "coin" and "token"? - page 4. (Read 8160 times)
They are both two terms used to describe units of Blockchain value. Their meaning and uses overlap considerably and are often used interchangeably but at least there are some differences
the difference of them is Coin have its own wallet and a blockchain,while token dont have waĺlet and you can sell it by smart contract into an ethereum platform like etherdelta.
I've heard of some companies offering tokens instead of coins, is this the same thing?
a coin is a project that has its own blockchain and a token is those who use other blockchain platform like eth, neo etc
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I understand that coin can perform the functions of a means of payment and means of exchange, and token acts only as a means of reward for certain actions.
hi . Token is an app that can be built on top of the protocol.
I've heard of some companies offering tokens instead of coins, is this the same thing?
In my own undertanding, coin are those digital currency which is launch to work with their own wallet/platform and blockchain technolgy while tokens are those who works using other's platform like erc20, waves, etc. this is something that even those who spend a long time in the market might know. coin coins are linked and the generic name of the produced material that is marketed as a project product.
There is a lot of people that is confused about these terms, so i'l explain:
Coins are basically currencies which can be traded or used for buying and selling of things if those buyers and sellers choose to accept the coin. And a coin has its own blockchain or equivalent, and is not built on another like Ethereum.
Coins are just "coins" that sometimes used as a foundation in creating new tokens.
But a token is something that can be built on another platform, like Ethereum, and a token actually plays role within the business operations and transactions of the company that issues it. The utility tokens are services or units of services that can be purchased. These tokens can be compared to API keys, used to access the service.
Coins are basically currencies which can be traded or used for buying and selling of things if those buyers and sellers choose to accept the coin. And a coin has its own blockchain or equivalent, and is not built on another like Ethereum.
Coins are just "coins" that sometimes used as a foundation in creating new tokens.
But a token is something that can be built on another platform, like Ethereum, and a token actually plays role within the business operations and transactions of the company that issues it. The utility tokens are services or units of services that can be purchased. These tokens can be compared to API keys, used to access the service.
In addition, The two terms used to describe units of blockchain value are COIN and TOKEN. Their meaning and usage overlaps considerably and they are often used interchangeably, but there are some differences.
The express purpose of a coin is to act like money: as a unit of account, store of value and medium of transfer. Coins tend to take the form of native blockchain tokens like bitcoin (BTC), Litecoin (LTC), and so on, though they do not have to. Where as Blockchain tokens do have value, but they cannot be considered money in quite the same way that a straightforward coin can.
Tokens are 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 express purpose of a coin is to act like money: as a unit of account, store of value and medium of transfer. Coins tend to take the form of native blockchain tokens like bitcoin (BTC), Litecoin (LTC), and so on, though they do not have to. Where as Blockchain tokens do have value, but they cannot be considered money in quite the same way that a straightforward coin can.
Tokens are 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!
In my opinion different between coin and token is coin are mineable so everyone can to participate to mine it, just like Bitcoin, Ethereum and Dash. And token is only their developer can create it and also only the developer can burn it. Coin they has own blockchain but token does not have it and use smart contract in other blockchain.
I've heard of some companies offering tokens instead of coins, is this the same thing?
As I understand the token is some kind of security paper. It could be use for buying some things but this is not the main designation. Otherwise coins are more liquid and they exist as a digital cash for trade.
As for me i really do not know for now the difference of those two.But on my point of view i think that if you are talking with coins i would say that something that can serve as a payment something used to buy something or something used to trading or doing business while token for me means a share or a given reward for a job or something given by the company as for doing a great job for them.
Unlike coin, tokens can be emitted centrally (under the control of one organization) and decentralized (under the control of a predetermined algorithm). Processing and acceptance of transactions can also be performed centrally (all servers are controlled by one organization). The formation of the price of tokens can depend not only on the balance of supply and demand but also on additional aspects (binding to an external asset, conditional emission rules or remuneration). In addition unlike the coin token does not have its own block.
ICOs are offering tokens thats what their unit are being called,pre-ico and ico tokens,once the development and ico has ended they will be listed to exchanges and your tokens will now be your coins,correct me if i am wrong.
tokens if the ICO isnt yet finished,tokens will be your coins after the tokens are listed to exchanges like bittrex,poloniex,binance etc.
My jaw drops off because of how confusing you make this topic.
Token (in blockchain context) - unit of blockchain software.
Coin (in blockchain context) - token, used for trade.
All cryptocoins are tokens. Not all tokens are coins. For example, a smart contract in Ethereum blockchain is a token because it is a software unit inside Ethereum virtual machine. But contracts are not used themselves as a trade medium. They are just sets of rules and conditions that distribute Ether coins.
that means, the token is about the contract deal along with the pay (paid) in the etherum virtual machine. then in deposit, and withdraw, and sell to coins (btc, eth, or others). does that mean so? Token (in blockchain context) - unit of blockchain software.
Coin (in blockchain context) - token, used for trade.
All cryptocoins are tokens. Not all tokens are coins. For example, a smart contract in Ethereum blockchain is a token because it is a software unit inside Ethereum virtual machine. But contracts are not used themselves as a trade medium. They are just sets of rules and conditions that distribute Ether coins.
Coin is a cryptocurrency Protocol.
Example: Bitcoin, Ether, NEO, WAVE, OMNI, NXT, Counterparty
Token is an App that can be built on top of the protocol.
Example: TenX is built on top of Etherum protocol, GAS is built on top of NEO protocol
Hope this helps!
This is the the good explanation of what is the difference between coin and token. Example: Bitcoin, Ether, NEO, WAVE, OMNI, NXT, Counterparty
Token is an App that can be built on top of the protocol.
Example: TenX is built on top of Etherum protocol, GAS is built on top of NEO protocol
Hope this helps!
exactly what i have in mind to ask. because I participated in an airdrop, some people were given coin while others were given token and it got me really confused when the manager ask that those who did not receive the token should send their wallet address, i was like ok, but have got some coin here in my wallet. i miss out because i did not understand the difference and even the explanation here is not clear. more light please.
In basic crypto terms, Coin refers to a digital currency whereas Token refers to a digital utility token/points.
Thats also my understanding, and in addition coins like the bitcoin is a single cryptocurrency while a token is under a platform. Under a plat form say for example under Ethereum tere are many tokens that has value too that exists only under the ethereum chain.
A token has same aspects of usuage but unless a toke is not listed on exchanges, it couldn't be named as coin.
A coin is an asset that is acceptable in a valid form by most trading platforms, so a token basically has to be eligible for people to accept it before being a coin and the complete coins can be seen on exchanges like etherdelta, coinmarketcap, yobit etcitra
A coin is an asset that is acceptable in a valid form by most trading platforms, so a token basically has to be eligible for people to accept it before being a coin and the complete coins can be seen on exchanges like etherdelta, coinmarketcap, yobit etcitra
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