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Title: What is the difference between coins and tokens? Post by: srilankarox on January 27, 2018, 05:18:43 PM What is the difference between coins and tokens?
Title: Re: What is the difference between coins and tokens? Post by: chaitanya31 on January 27, 2018, 05:22:23 PM What is the difference between coins and tokens? Typically the difference between a coin and a token is that a coin has direct monetary value, while a token does not. Tokens, such as those found in arcades, are likely bought with money, but cannot be sold for it- however, they can be used as currency in the arcade setting.Title: Re: What is the difference between coins and tokens? Post by: AdolfinWolf on January 27, 2018, 05:24:53 PM What is the difference between coins and tokens? An altcoin is a completely seperate currency, with its own blockchain, that isn't dependant on another blockchain, has it's own wallets etcetera. Tokens are usually based/made upon another crypto currency. Take for example the ethereum protocol. There's tons of "tokens" which are on it. They use the same wallets as their parent currency, are (mostly) coded the same way, etc. (-- If Ethereum would stop functioning, so would all the tokens that are on their platform.) You should see tokens as another currency inside the blockchain of another coin. https://coinmarketcap.com/tokens/ Title: Re: What is the difference between coins and tokens? Post by: gentlemand on January 27, 2018, 05:55:00 PM Tokens are usually based/made upon another crypto currency. I've seen more exchanges referring to everything as tokens. Poloniex calls all of them blockchain tokens which makes my skin crawl a bit. Title: Re: What is the difference between coins and tokens? Post by: srilankarox on January 27, 2018, 05:57:05 PM What is the difference between coins and tokens? An altcoin is a completely seperate currency, with its own blockchain, that isn't dependant on another blockchain, has it's own wallets etcetera. Tokens are usually based/made upon another crypto currency. Take for example the ethereum protocol. There's tons of "tokens" which are on it. They use the same wallets as their parent currency, are (mostly) coded the same way, etc. (-- If Ethereum would stop functioning, so would all the tokens that are on their platform.) You should see tokens as another currency inside the blockchain of another coin. https://coinmarketcap.com/tokens/ As I need knowledge.. u give me best one info. Thank you Title: Re: What is the difference between coins and tokens? Post by: MintDice on January 27, 2018, 06:19:37 PM Ethereum is a platform, with it’s own blockchain and Ethereum’s “coin” or better put currency is Ether. Ethereum is similar to Bitcoin in that Bitcoin also uses a blockchain data structure but has it’s own currency called Bitcoin.
A “token” by definition is a representation any fungible tradible good such as currency, loyalty points, gold certificates, in game items and more. Title: Re: What is the difference between coins and tokens? Post by: crypto-words on January 27, 2018, 06:25:53 PM What is the difference between coins and tokens? An altcoin is a completely seperate currency, with its own blockchain, that isn't dependant on another blockchain, has it's own wallets etcetera. Tokens are usually based/made upon another crypto currency. Take for example the ethereum protocol. There's tons of "tokens" which are on it. They use the same wallets as their parent currency, are (mostly) coded the same way, etc. (-- If Ethereum would stop functioning, so would all the tokens that are on their platform.) You should see tokens as another currency inside the blockchain of another coin. https://coinmarketcap.com/tokens/ This is a great explanation in plain, easy-to-read English. Short, yet you got all the main points covered ; ) @OP: May I just add a few more links to that which I believe might be of interest to you should you be looking for some in-depth information. These are the resources I would recommend: (1) https://coincheckup.com/ (a basic overview of most of the coins & tokens around) (2) https://compare.digitalcoinprice.com/ (lets you compare two or more coins & tokens with one another, has been often really quite useful!) P.S. While I was typing, a fellow member already mentioned something regarding another aspect which was basically what I wished to say also ; ) Now especially when you've got a start-up, they might design their tokens as so called "functional utility tokens", meaning their tokens would have a specific function within their platform / ecosystem. An interesting read on this issue of terminology might be the following short article on coindesk: https://www.coindesk.com/utility-coins-crypto-assets-token-terminology-one-big-gray-area/ |