Topic: What is the difference between a "coin" and "token"? - page 7. (Read 8173 times)

Tomato or tomato, difference is in the spelling mate, like mate and friend, buddy, pal they all mean one thing but used in different places by different

People, in crypto sphere people call the shitcoins issued by Eth blockchain a token but in reality they're all traded on exchanges like coins, we are

Supposed to use tokens on their own platforms to access various services and they're supposed to be accepted only on their own platforms, coins

Should be accepted worldwide.

More...

https://blog.chronobank.io/token-vs-coin-whats-the-difference-5ef7580d1199

Function vs form

Very broadly, a crypto coin is just that: a coin, or means of payment, whilst a token has wider functionality.

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), Monero (XMR), and so on, though they do not have to. ChronoBank’s Labour Hour (LH) tokens, which are hosted on Ethereum, can be considered as coins. Their purpose is solely to act as a form of money, storing value over time and enabling businesses to account and pay for services. They are created as ERC20 tokens for reasons of convenience.

Blockchain tokens do have value, but they cannot be considered money in quite the same way that a straightforward coin can. Tokens are generally hosted on another blockchain, like Ethereum or Waves: 2.0 protocols that allow users to create them using the core coin (e.g. ETH or WAVES — though there’s some debate about whether ETH and WAVES, both of which act like ‘fuel’ for their systems, are coins in the same way that BTC acts as a simple currency).

Tokens offer functionality over and above that of digital cash. They may deliver value to investors, beyond speculative returns; this is one of the purposes of ChronoBank’s TIME token. That can occur in a variety of ways, though typically through buybacks (since dividend payments entail regulatory problems). They may be used to hold votes by the community on key business decisions, or even technical changes to the platform.

1. Coins or Cryptocurrencies
These are digital currencies like Bitcoin in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds. They are operating independently of a central bank.


2. Utility tokens
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.


The keyword is utility...tokens do something.  Coins are just "coins" that sometimes used as a foundation in creating new tokens.

This is the standard definition for traditional currency (non-cryptocurrency) .

The key point of difference between a token and a coin is that a coin is issued by a governmental local or national authority and is freely exchangeable for goods or other coins, whereas a token has a much more limited use and is often (but not always) issued by a private company, group, association or individual. In the case of "currency tokens" issued by a company but also recognized by the state there is a convergence between tokens and currency.

from
https://en.wikipedia.org/wiki/Token_coin
Classical view ofc

I'm not sure if I understood you correctly.... How I understood it is that a coin is the actual currency of a specific company or their "product" while a token is more like a "share" in a more traditional company.....correct? O.o

Coin is p2p software or program built from unique code source or cloned from another code source like litecoin, token is issuable within coin platform like ethereum, nxt, waves.....

Didn't understand you quite well, could you rephrase?

The difference between the coin and token it was not at his usual number of printing different from that which I know there may be willing adding again

I've heard of some companies offering tokens instead of coins, is this the same thing?