Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: jangan on September 25, 2018, 06:26:03 AM
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The two differ in the way they are created. Coins, such as Bitcoin and Ether, have their own blockchains (even if this blockchain is the fork of the first cryptocurrency; think of Litecoin). Tokens don’t have their own blockchain or wallet. They are created on the basis of the platforms that already exist—for example, Waves or Ethereum. Accordingly, coins can be mined, while tokens can’t.
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Coins are superior to tokens because they have their own platform. Although their platforms are attached to other coins, the tokens also have other advantages. Tokens are faster for transactions than coins.
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The main difference between coins and tokens lies in the way they are created. If you take the familiar Bitcoin and Ether. Initially, they were created by programmers for use in their own blockhouses, which are the "basis" of crypto-currencies. Later, currencies began to appear, where Bitcoin and Efir's blockbuster exploits were used, or other open source block libraries. Other projects on their basis created their own crypto-currencies - they, in turn, are called forks. Both types of such systems are united by one thing - the presence of your own detachment. Yes, in the second case, its main part was borrowed from other projects, but it was modified and changed for the functioning of the new currency. In other words, to create a coin you need a block. Tokens, unlike coins, are much easier to create. They do not need to create a new block or change an existing one. To create tokens there are different platforms, for example Ethereum or Waves. As a result, it turns out that the creation of tokens is limited to choosing a platform and following the instructions of developers.
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I can tell you with an example:
Ethereum has own blockchain so it is a coin.
Utrust is on ethereum blockchain so it is a token.
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a coin is just like a payment function only
while token has wider functionality
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Hello there, more info you can google about this.
Ok then , let me explain a little bit.
What Coin and Token difference ? (On cryptocurrency topic)
Coin is native digital data (cryptocurrency) that stand on its own blockchain. It has it's own platform. It has it's own wallet.
Example : Bitcoin, Ethereum, Ripple, Stellar.
Ok then, what about token ? Token does not has it's own blockchain/platform. It doesn't has it's own wallet.
Example :
Ethereum (ETH) and Bitcoin Token (BTK).
Btk is launched on Ethereum Platform.
So :
- ETH = Coin.
- BTK = Token.
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An interesting topic most crypto users often called tokens as coins or vice versa there is confusion, however, coins are used the same as real money tokens are the one that exists on the blockchain platform the common blockchain token platform is etherium.
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All coins refer to cryptocurrency (like ETH, Bitcoin, DASH etc), while tokens are analogous to shares. This is like another way of financing projects of a common infrastructure that could not be financed previously.
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okay, a few examples to be clear, if tokens are usually the wallet address in front of them uses initials like ETH.
example: 0xb17hjxxxxxxxx
if the coin, the wallet address in front of it usually matches the name of the coin, or according to the initials in front of it.
example:
Dogecoin: DFfvtxxxxxxx
NXT: NXT-xxxx-xxxx
I hope I can help you with this brief explanation
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a token is an economic unit created under an existing platform, valid as money, but not independent as they need the host platform network, miners, wallets and blockchain. Token value is always tied to the base platform value.
a coin, on the other hand, represents a value within their own blockchain, using their own wallet and independent from other blockchains
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Normally token are referred to the Ethereum smart contracts and Coins are basically the currency like bitcoins, litecoins. You can say if it runs on block chain type platform, it is refereed as a coin which on etherum platform it is referred as a token. Most people used these terms inter-changeably without worrying about the definition difference of both of them
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To put it simply, coin basically refers to cryptocurrency that has it own blockchain and works independently of other platform while token refers to cryptocurrency that operates and based its existence on another platform for instance Ethereum
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What i know is,coins have their own platforms example is the ETH and BTC whilst tokens operate on the platforms of these coins eg is jimbi. But tokens are faster when it comes to transactions than coins and that is pretty okay.
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Simply, coins operate on their own platforms ,tokens are mostly altcoins and they operate on the platform of coins. Coins are recognized on exchange markets but not all tokens have beenon exchange
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I can tell you with an example:
Ethereum has own blockchain so it is a coin.
Utrust is on ethereum blockchain so it is a token.
Yes I agree with you mate. Coin has own block chain, Tokens hasnot. It is different coin and ethereum. I think coin is more superior.
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The keyword of difference between coin and token is the platform.
Coin has it own platform (blokchain). Otherwise token, their hasn't it own platform (blockchain).
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Coin
means of payment
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).
Token
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.
Tokens offer functionality over and above that of digital cash. They may deliver value to investors, beyond speculative returns.
They may be used to hold votes by the community on key business decisions, or even technical changes to the platform.