Altcoins Talks - Cryptocurrency Forum

Further Discussions => General Discussion => Topic started by: Abiodun on January 01, 2019, 12:56:07 PM

Title: Differences between coin and token
Post by: Abiodun on January 01, 2019, 12:56:07 PM

What's the difference between a coin and a token?

Title: Re: Differences between coin and token
Post by: Nautilus on January 02, 2019, 08:32:45 PM

Well, as far as I know coin has a blockchain itself, and token is an altcoin which is generated from another blockchain.

Title: Re: Differences between coin and token
Post by: tsakf on January 05, 2019, 11:00:37 AM

Coins are assets that they have their own blockchain. Tokens are smart contracts (programs) that exist on another blockchain. Care must be taken, when you invest in tokens. To pay the transaction fee you must have coins of the underlying blockchain. To make it simple, when you have an ERC-20 token (token using ethereum blockchain), you must have ether to pay the transaction fees for any action with the token. It is advisable to choose a blockchain that you like, and trade tokens there. This eliminates the need to have different coins, to do transaction fees. It's better to stick with one.