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Title: Tokens vs Coins Post by: cryptoveins on January 31, 2018, 05:34:12 PM What is the difference between token and coin? I have seen many start-ups launch tokens while some launch coins. Are they same or different?
Title: Re: Tokens vs Coins Post by: Igorpap2 on January 31, 2018, 05:44:56 PM The main difference between coins and tokens in their structure: coins are separate currencies with their own separate block, while tokens act on top of the block, which facilitates the creation of decentralized applications. :)
Title: Re: Tokens vs Coins Post by: jlanzago on January 31, 2018, 05:49:41 PM Coins run on their own blockchain. Tokens run on top of an existing blockchain, the best example of them are all the Ethereum or NEO based tokens (but there are also tokens based on other platforms such as NEM)
Title: Re: Tokens vs Coins Post by: qiwoman2 on January 31, 2018, 05:53:13 PM Coins either have their own blockchain or are FORKS of coins that run their own blockchains and the tokens are smart contracts created from blockchains so they run and are created differently. Also tokens are primarily preferred by many startup businesses that are not directly related to blockchain technology but are wanting to bring in micro investors into their fold to raise capital in a much faster way with a bigger distribution. So it's up to everyone to decide if they want to invest in coins or tokens or both.
Title: Re: Tokens vs Coins Post by: Igorpap2 on January 31, 2018, 05:54:21 PM Also ...The main purpose of the koin is to fulfill the role of money: to be a unit of calculation, a store of value and a means of transfer. Tokens offer functionality exceeding digital money. They can be used to conduct community voting on key business decisions or even technical changes on the platform.
Title: Re: Tokens vs Coins Post by: cynical on January 31, 2018, 05:55:58 PM Another explanation is that Coins are supposed to be spend or exchanged Peer-to-peer for goods and services.
For example Bitcoin, Litecoin and in the case of Monero and Zcash untraceable payments for goods and services. Tokens are used to pay for a specific item or service or as an Investment in a specific technology. In the case of "smart contracts" Ethereum and the ERC20 system. In the case of SIA for its storage facilities, payment will be in SIA. Although Ethereum is used as a general payment system for anything really this is because of its low fees and quick transfers. But its rare for example a designer to request payment in SIA, it would be any of the others above. Some examples! Title: Re: Tokens vs Coins Post by: Nana_Marini on January 31, 2018, 06:01:10 PM It is important to note that all coins or tokens are regarded as cryptocurrencies, even if most of the coins do not function as a currency or medium of exchange. You can read for more detail information about the difference of token and coin in this link below. https://masterthecrypto.com/differences-between-cryptocurrency-coins-and-tokens/
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