Coins vs Tokens?

[glitch]

I have heard these were the same whilst others have said they were different.

I am not sure if they are in fact different or not. Can someone explain what the differences are, if any, between coins and tokens?

 

[Sincerem]

Well, coins are more developed in terms of value, tokens are really small fragments of coins and it would require a lot of token to amass a profitable amount. A single coin can be worth thousands of tokens.

 

[Sotherefore]

That is what I've been seeing. When it is called a token , I believe it is still evolving in the sense that more work will be done to bring it to a stage that it can be called a coin. That's just what I know about token.

 

[Potuse]

That is what I've been seeing. When it is called a token , I believe it is still evolving in the sense that more work will be done to bring it to a stage that it can be called a coin. That's just what I know about token.

It is really simple to understand . A token does not have its own blockchain . It ips simply a cryptocurrency project that is lunch on another cryptocurrency's blockchain but if you have your your own blockchain, then it would ber egarded as a coin.

 

[Robust]

Well I see coin or crypto currency coins as a native assets of a block chain like bitcoin, bitcoin cash, litecoin, dogecoin while token is represented as something that can be assigned a price like dollar, euros, yen, pounds etc.

 

[Ononivami]

Well I see coin or crypto currency coins as a native assets of a block chain like bitcoin, bitcoin cash, litecoin, dogecoin while token is represented as something that can be assigned a price like dollar, euros, yen, pounds etc.

You have totally mixed up everything because cryptocurrency coins has their own blockchain example of such is Bitcoin , Solana, cardamom etc. There are some cryptocurrencies that do not have their own blockchain, they are called tokens, examples are Dogecoin, Shiba Inu etc.

 

[Laurentta]

A coin and a token are not so different from each other. A token is like a smaller part of a coin. A token later develops into a coin.A token does not have it's own blockchain unlike a coin does.

 

[Nomad]

coins and tokens are completely different. Coins have their own blockchain platform where as tokens exist on some platforms. Despite not having its own platform, tokens also operate just like coin.

 

[Planbizzle]

I have heard these were the same whilst others have said they were different.

I am not sure if they are in fact different or not. Can someone explain what the differences are, if any, between coins and tokens?

Tokens can be produced and circulated on top of a blockchain network, whereas coins are typically created and disseminated through a blockchain network. Tokens are frequently used to symbolize a digital asset, loyalty points, or even tangible resources, whereas coins are primarily used for making payments and conducting transactions.

 

[Mayorla]

A token is a digital unit of value that represents an asset or utility. Unlike coins, tokens do not have their own Blockchain and are issued on top of existing networks. Unlike coins, tokens are not mined in the process of transaction validation. Instead, they are minted. Bitcoin is a coin. TWT is a token.

 

[Potuse]

Coin is definitely different from token because a coin has its own blockchain but token is hosted on another cryotocurrency project's blockchain and that is why the coin could be regarded as a well-developed cryptocurrency.

 

[Ononivami]

Coin is definitely different from token because a coin has its own blockchain but token is hosted on another cryotocurrency project's blockchain and that is why the coin could be regarded as a well-developed cryptocurrency.

This is what I read as well, because I read that coin has it own blockchain and token does not have his own blockchain which means that you toke is not a full-fledged cryptocurrency project.