Topic: what is the difference between TOKEN and COIN (Read 654 times)
A coin has its own blockchain system on it, or coins are also called Altcoins like as Litecoin and dogecoin. so work standalone while token is smart contracts, they work in ETH and wave. so all token is work in their smart contract blockchain.
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:
a coin is strictly a currency that can be traded, and accepted by people buying and selling things if those buyers and sellers choose to accept the coin.
A token is a representation of any fungible tradible good such as currency, loyalty points, gold certificates, in game items and more.
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).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.
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.
a coin is strictly a currency that can be traded, and accepted by people buying and selling things if those buyers and sellers choose to accept the coin.
A token is a representation of any fungible tradible good such as currency, loyalty points, gold certificates, in game items and more.
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).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.
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.
Hi all,
Can you explain?
Thanks in advance.
Can you explain?
Thanks in advance.
Originally word "token" was used to describe crypto currency of any kind (BTC, LTC) without causing any legal consequences, because the legislative framework
of many countries contains definitions of words "currency", "minting", "coin". Today there is no rules for usage of each word, but intuitively I use "coin" when talking of PoW and "token" in other cases (PoS, DPoS, DAG).
I think that the easiest way to newcomers and public will be to ask the question: can this crypto only be mined? If yes - it is a coin.
COINS are also called Altcoins. They’re often used interchangeably and simply refers to coins that are an alternative to Bitcoin like Litecoin and Dogecoin while TOKEN are created and distributed to the public through an Initial Coin Offering (ICO), which is a means of crowdfunding, through the release of a new cryptocurrency or token to fund project development.
A coin has its own blockchain equivalent and not built on another while token is something that is built on another platform and only plays role or useful within the business operations of the platform or company that issued it. Coin is a currency that can be traded with and it is accepted by people for any transaction if the parties so agree.
Hi all,
Can you explain?
Thanks in advance.
Can you explain?
Thanks in advance.
Token is something that is hosted on a platform such as ethereum/waves/omni, etc. and is not a currency by itself. Basically, it is dependent on the foreign network to validate transactions and isn't actually a currency but rather an asset.
A coin is an independent blockchain. Like BTC, LTC, ETH.
Token examples include tether, omg, digixdao, etc.
Hi all,
Can you explain?
Thanks in advance.
Can you explain?
Thanks in advance.
I think the difference between coin and token is, coin can be in mining, like BTC, but token can be from ICO sale result when project fund raising.
The main difference between coins and tokens is in their structure,coins are separate currencies with their own separate blockchain while tokens operate on top of a blockchain that facilitates the creation of decentralized applications. We have some big language barriers in this space we constantly use different words to mean different things! topic like this help clarify and define the words we use as an industry, this will get us all on the same page, reduce the number of critical failures, and speed up development of the digital currency industry.
as i know that coin is have their own blockchain system on it, so they work standalone, its different from token, token as i know is a smart contracts, they work in ETH or Waves (the biggest smart contract as i know) so all token is work in their smart contract blockchain
Hi all,
Can you explain?
Thanks in advance.
Can you explain?
Thanks in advance.
In my theory, the digital coin is a virtual asset that we can trade with other coins like bitcoin and altcoin.
Coin can also be mined through hardware mining machines. Tokens are also virtual assets and considered a part of crypto economy.
The main difference between coin and token is that coins are mineable but tokens are not. Tokens run on ethereum network and can be stored in ERC20 supported wallet
what I know coin is a term for a virtual currency that we can use for a trade in other types of coins such as bitcoin ethereum bcc and many other types of coins and tokens is just like an application developed by a developer that is building a project that would later stand under another type of coin such as bitcoin and ethereum as the plaform of the token and currently many developers of a project are offering an investment on the token under construction and for the profit problem we can get from that investment is of course it depends on the project being built by a developer if it is a successful project of course we as investors will be able to get a profit that can on the investment we do on the token.
I do not think there is an exact definition and many times the terms get used somewhat interchangeability.
I agree with him. They are used interchangeably. If you're looking for more, I wrote really simple definitions on my website:
https://decryptionary.com/dictionary/token/
https://decryptionary.com/dictionary/coin/
Check it out, I hope it helps
The main difference between coins or altcoins and tokens is in their structure; altcoins are separate currencies with their own separate blockchain while tokens operates on top of a blockchain that facilitates the creation of decentralized applications. Most coins are mineable like ethereum, liteocoin, bitcoin, bitcoincash. Most ICOs are token based like ICOs for mining facilities to mine cryptocoins like ethereum,bch, monero, the share of profit of this miniing this coins are distributed thru their tokens equivalent to their ICO.
I do not think there is an exact definition and many times the terms get used somewhat interchangeability. But I agree that in general "coin" is used for the representation of a blockchain based cryptocurrency such as Bitcoin, Litecoin, Ethereum, Zcash, etc., while "token" is used more often to represent something that is issued in an ICO offering such as OMG, EOS, etc. You will probably get dozens of different responses, especially when it comes down to the specific usages and semantics, but in general I think these loose definitions are accurate.
Hi all,
Can you explain?
Thanks in advance.
Coin basically building on its own network and the assets build in the coin's platform of network, afaik the coin will be more useful rather than the asset because asset just a part from the platform or i'd liked to call that as the feature of the platform itself. You may know the different right now. Can you explain?
Thanks in advance.
Hi all,
Can you explain?
Thanks in advance.
I don't really have a set definition when I call it a coin or just a regular token.Can you explain?
Thanks in advance.
I guess that it depends on how operational the project is.
Hi all,
Can you explain?
Thanks in advance.
For my understanding, Coin describes the clones created like Bitcoin, example is Ethereum, ZCash, Monero. Those coins can be mined as well like Bitcoin. Token are given to those who participates on projects that needs funding, example is SNC or SunContract project, if you contribute 1 Ethereum when the ICO is still on-going they will give you at least 11,000 SNC tokens. Anyone want to correct me on this because I maybe wrong.Can you explain?
Thanks in advance.
i think i agree with your expalaination about the difference between TOKEN and COIN the ICO need to introduce to the public using the campaign to become valualable coins and to become one of the altcoins and token are convertable into the bitcoin according to his value.
A token is a coin built on the basis of any of the coins ( such as tokens ERC20 Ethereum), and the coins have their own Protocol.
Hi all,
Can you explain?
Thanks in advance.
Can you explain?
Thanks in advance.
For me and for my own understanding coin is what we called cryptocurrency for example bitcoin, litecoin and so on and so for and the token i understand for that is special prize for those who qualified so that they called token and not all are qualified for that token some of signature campaign have a token but not at all.
Maybe you need to check forum first: https://bitcointalksearch.org/topic/what-is-the-difference-between-a-coin-and-token-1824999
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