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Title: Tokens and coins Post by: TelegAda on March 12, 2018, 05:57:00 AM Well coins they are already on the stock exchange and are used in some countries, payable, etc...a token is kind of the same coins but they serve specifically to the ICO and no where, but the point is that if they are used somewhere else they, too, are coins.
Do I understand correctly? Title: Re: Tokens and coins Post by: Heisenberg_Hunter on March 12, 2018, 06:19:34 AM You understanding of coins and tokens are certainly wrong.
A coin is nothing but a cryptocurrency which is built mostly by forking the bitcoin protocol or sometimes on their own. An altcoin is a coin which relies on their own developed blockchain and protocol and they don't depend on other platform. A majority of coins are built on their own blockchain where transactions related to their own coins occur. Examples : Ethereum, Ripple, Dogecoin A token is also a cryptocurrency which depends on another blockchain to perform it's operation. Most of the tokens are built in ethereum blockchain and creating a token is much more very easier than building your own coin. Any one can create a token of they are used to ethereum or waves platform. The process of creating your own token can be made possible by the use of smart contracts. Tokens are distributed mostly through Initial Coin Offering whereas coins are mined to create a new coin. Title: Re: Tokens and coins Post by: ryjin1007 on March 12, 2018, 06:24:09 AM Coins are currency that have its blockchain like btc,ltc, eth and many more while tokens are made using other blockchain like ERC-20 token this tokens are in the ethereum network you can also find waves tokens also
Title: Re: Tokens and coins Post by: idioma1 on March 12, 2018, 06:52:33 AM so puzzled
Title: Re: Tokens and coins Post by: fatirborju on March 12, 2018, 08:04:07 AM Actually coins are used for exchange or payment Crypto coins also aim at the same,but the advantages lie in speed,low shipping costs, and ease of transactions while tokens are a medium of exchange,but are generally more focused on a project,while Tokens are created to meet certain types of market instruments....
Title: Re: Tokens and coins Post by: thorium232 on March 13, 2018, 01:07:10 PM The main difference between coins and tokens is in their structure: coins are separate currencies with their own separate blockchain. The main purpose of the coin is to fulfill the role of money - to be a unit of calculation, a value storage and a way of transferring.
Tokens act above the blockchain, which enables the creation of decentralized applications. 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 and coins Post by: hetecon on March 15, 2018, 02:14:35 PM There are different types of tokens. Some of them exist as an internal currency of the resource, others in turn can be sold on the exchange.
Title: Re: Tokens and coins Post by: Wallflower28 on March 15, 2018, 02:46:44 PM Well coins they are already on the stock exchange and are used in some countries, payable, etc...a token is kind of the same coins but they serve specifically to the ICO and no where, but the point is that if they are used somewhere else they, too, are coins. I don't really know the difference between token and coin but I think coin and token are both the same. They can also different the way the developer called the currency they made.Do I understand correctly? Title: Re: Tokens and coins Post by: adam1230 on March 15, 2018, 02:48:16 PM You got the issue totally wrong. Coins are using their own blockchains and tokens are using the main coins blockchain.
The technical part is simple. These days mostly tokens are used to fund projects and we call this ICO |