What is the difference between a "coin" and "token"?

[Nachalnik]

I've heard of some companies offering tokens instead of coins, is this the same thing?

[prass tyo]

I've heard of some companies offering tokens instead of coins, is this the same thing?

The difference between the coin and token it was not at his usual number of printing different from that which I know there may be willing adding again

[Nachalnik]

I've heard of some companies offering tokens instead of coins, is this the same thing?

The difference between the coin and token it was not at his usual number of printing different from that which I know there may be willing adding again

Didn't understand you quite well, could you rephrase?

[alt213]

Coin is p2p software or program built from unique code source or cloned from another code source like litecoin, token is issuable within coin platform like ethereum, nxt, waves.....

[Nachalnik]

Coin is p2p software or program built from unique code source or cloned from another code source like litecoin, token is issuable within coin platform like ethereum, nxt, waves.....

I'm not sure if I understood you correctly.... How I understood it is that a coin is the actual currency of a specific company or their "product" while a token is more like a "share" in a more traditional company.....correct? O.o

[Aureliusy]

The key point of difference between a token and a coin is that a coin is issued by a governmental local or national authority and is freely exchangeable for goods or other coins, whereas a token has a much more limited use and is often (but not always) issued by a private company, group, association or individual. In the case of "currency tokens" issued by a company but also recognized by the state there is a convergence between tokens and currency.

from
https://en.wikipedia.org/wiki/Token_coin
Classical view ofc

[faustmeister]

The key point of difference between a token and a coin is that a coin is issued by a governmental local or national authority and is freely exchangeable for goods or other coins, whereas a token has a much more limited use and is often (but not always) issued by a private company, group, association or individual. In the case of "currency tokens" issued by a company but also recognized by the state there is a convergence between tokens and currency.

from
https://en.wikipedia.org/wiki/Token_coin
Classical view ofc

This is the standard definition for traditional currency (non-cryptocurrency) .

[Poink]

1. Coins or Cryptocurrencies
These are digital currencies like Bitcoin in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds. They are operating independently of a central bank.


2. Utility tokens
The utility tokens are services or units of services that can be purchased.  These tokens can be compared to API keys, used to access the service.


The keyword is utility...tokens do something.  Coins are just "coins" that sometimes used as a foundation in creating new tokens.

[Poink]

More...

https://blog.chronobank.io/token-vs-coin-whats-the-difference-5ef7580d1199

Function vs form

Very broadly, a crypto coin is just that: a coin, or means of payment, whilst a token has wider functionality.

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), and so on, though they do not have to. ChronoBank’s Labour Hour (LH) tokens, which are hosted on Ethereum, can be considered as coins. Their purpose is solely to act as a form of money, storing value over time and enabling businesses to account and pay for services. They are created as ERC20 tokens for reasons of convenience.

Blockchain 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 (e.g. ETH or WAVES — though there’s some debate about whether ETH and WAVES, both of which act like ‘fuel’ for their systems, are coins in the same way that BTC acts as a simple currency).

Tokens offer functionality over and above that of digital cash. They may deliver value to investors, beyond speculative returns; this is one of the purposes of ChronoBank’s TIME token. That can occur in a variety of ways, though typically through buybacks (since dividend payments entail regulatory problems). They may be used to hold votes by the community on key business decisions, or even technical changes to the platform.

[freebutcaged]

Tomato or tomato, difference is in the spelling mate, like mate and friend, buddy, pal they all mean one thing but used in different places by different

People, in crypto sphere people call the shitcoins issued by Eth blockchain a token but in reality they're all traded on exchanges like coins, we are

Supposed to use tokens on their own platforms to access various services and they're supposed to be accepted only on their own platforms, coins

Should be accepted worldwide.

[bitcoinvestor]

I've heard of some companies offering tokens instead of coins, is this the same thing?

COin is he main coin with its network like eth while token is the coin created under the network like ten x pay is token, it is created in eth network or blockchain, Most ICOs use eth token , there are some use etc , and waves. Most ICos now use eth network because the developers may prefer eth to make smart contract deployed

[XbladeX]

I've heard of some companies offering tokens instead of coins, is this the same thing?

no coin is curency that represts some abstract free money on market people use it and spend it.
Toneks represents shares/assts on blockcian and are linked to certain value.
Token usualy work on some plaform like ETH /BTC NXT. Tokes are tradable for coins( currency)

[Lovetrading]

Coin is a cryptocurrency Protocol.
Example:  Bitcoin, Ether, NEO, WAVE, OMNI, NXT, Counterparty

Token is an App that can be built on top of the protocol.
Example: TenX is built on top of Etherum protocol, GAS is built on top of NEO protocol

Hope this helps!

[Nalbo]

Coins are used generally to define the digital tokens which has it's own blockchain.
While tokens are the digital tokens that are transacted using sidechain of a coin.

[innoachukwu]

I think tokens are coins built within a coin....

[OneUserOne]

I've heard of some companies offering tokens instead of coins, is this the same thing?

I guess coins and tokens are slightly different. To me, the term "coin" is used when talking about Bitcoin, when the term "token" is and should be applied in terms of referring to Ethereum.

[Aizhen05]

as what my friends told me tokens is another way that their going to paid instead of coins then you need to convert it in coins then into fiat currency. am I right the difference between the two of them I don't know. ive never try paid by token or even in coins because ive never join for some campaign.

[syaripudin]

Coin is a virtual currency in some countries can be used as a tool of transactions or delivery as well as fiat currency in general. while the token is like a coin but the difference tokens are still in the development process undertaken by ICO in the development of a project under construction. but in the end the token will be used like a coin in general for a transaction. and today many ICOs have built a token as a flaporm for the development of a project and usually can only be used in a flaporm on a project they are developing.

[DaftAjax]

I've heard of some companies offering tokens instead of coins, is this the same thing?

Coins are what we called the cryptocurrencies, such as Bitcoin, Ethereum, Litecoin etc. And the tokens are those things that have been forked from a specific Coin. Well that is much pretty all it, in the simplest explanation that is.

But the deeper explanation is yet to be unfold only thy yourself instead, you already have the idea so I'm assuming that you can now further research about their difference, and probably their importance and all.

[MyOddz]

i would say that in terms of eth, you could consider eth the foundations of a house. a token, would be what is built on top of it. you cannot have a token without eth, and eth underpins everything. tokens, can have many different functions, just like the parts built on top of the foundations, walls, windows etc