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Author Topic: Altcoin & Token - What's diffferent ?  (Read 286 times)
deathwish
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November 13, 2017, 08:49:39 PM
 #1

Could someone please explain to me what is the difference between an Altcoin and a Token.
I'm a newbie, so please don't mind me asking.

I took part in some airdrop recently and now I was told that it is a token and not a coin. What does that mean ? What can I do with it ?
Can I trade tokens ?
What's the point of having tokens ?

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cryptobaht
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November 13, 2017, 09:19:31 PM
 #2

Could someone please explain to me what is the difference between an Altcoin and a Token.
I'm a newbie, so please don't mind me asking.

I took part in some airdrop recently and now I was told that it is a token and not a coin. What does that mean ? What can I do with it ?
Can I trade tokens ?
What's the point of having tokens ?


Tokens are usually issued on ICOs. You can't mine them and they are being traded on relatively small number of exchanges. Altcoins are, well, all coins that are not Bitcoin  Smiley
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November 13, 2017, 11:58:39 PM
 #3

Well, altcoin is an alternative coin to bitcoin and a token you can see it like a share like the one from stock markets.
If i'm wrong please correct me.
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November 14, 2017, 01:06:22 AM
 #4

An altcoin is an altcoin.

A token is an altcoin; but an altcoin isn't a token.

Tokens are altcoins that run on the Ethereum chain.

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November 14, 2017, 08:04:55 AM
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 #5

What is the difference between a "Coin" and a "Token" on the site?

A Coin is a cryptocurrency that can operate independently.

A Token is a cryptocurrency that depends on another cryptocurrency as a platform to operate. Check out the crypto tokens listings to view a list of tokens and their respective platforms.

This above information is taken from Coinmarketcap guidelines. Cheers!
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January 17, 2018, 12:07:06 AM
 #6

A coin relies on its own network. A token uses the Ethereum or other smart-contract capable network.
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January 17, 2018, 12:30:03 PM
 #7

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.

The idea of a token itself is niether exclusive to Ethereum nor any other platform. A token is really an abstraction. It represents that I own a underlying tradable asset.

Currently the Ethereum space is very hot with ICOs which are really token offerings. These tokens represent an exchange medium within the project. For example, Golem Project pays app developers who publish on the platform and CPU renters in GNT

Because GNT represents the internal medium of exchange in the golem project, people who want to participate in this ecosystem must have GNT.

If someone wants to buy GNT but only has ETH, they can offer to trade their currency ETH for my GNT at a price say 0.5ETH / GNT.

In a more real life example. You pay $2 at a pinball machine effectively exchanging your currency for 3 pin balls (tokens) to be used to play within the pinball game.


This is what i get from blockgeek. Easy to understand.
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January 17, 2018, 12:56:56 PM
 #8

A coin (or altcoin) is a variation of Bitcoin's open source code. (Litecoin, Dogecoin, etc.)
A token is a secondary asset for dapps within a blockchain ecosystem - usually Ethereum. Each dapp uses tokens to run.
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February 14, 2018, 03:42:28 PM
 #9

The main difference:

-Altcoins possess their own independent blockchain, where transactions relating to their native coins occur in.

-Tokens are a representation of a particular asset or utility, that usually resides on top of another blockchain.
 For exemples : ERC20 Tokens works on etherum blockchain, and they are much easy to create.
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February 15, 2018, 11:33:34 AM
 #10

Altcoin

Alternative crypto currency coins are also called altcoins or simply “coins”. They’re often used interchangeably. Altcoins simply refers to coins that are an alternative to Bitcoin.

Tokens

Tokens are a representation of a particular asset or utility, that usually resides on top of another blockchain. Tokens can represent basically any assets that are fungible and tradeable, from commodities to loyalty points to even other cryptocurrencies!
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February 16, 2018, 02:57:08 AM
 #11

Coins are separate currencies with their own separate blockchain whereas Tokens operate on top of a blockchain and are created and distributed to the through ICO's.

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February 16, 2018, 09:13:02 AM
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The main difference between altcoins and tokens is in their structure; altcoins are separate currencies with their own separate blockchain while tokens operate on top of a blockchain that facilitates the creation of decentralized applications.
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February 16, 2018, 01:49:36 PM
 #13

Could someone please explain to me what is the difference between an Altcoin and a Token.
I'm a newbie, so please don't mind me asking.

I took part in some airdrop recently and now I was told that it is a token and not a coin. What does that mean ? What can I do with it ?
Can I trade tokens ?
What's the point of having tokens ?


A coin has its own blockchain, while a token rely on a pre- existent blockchain. The most known tokens are based on ETH or Waves. You may find a list of tokens here: https://coinmarketcap.com/tokens/views/all/

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February 16, 2018, 05:05:43 PM
 #14

as I suggest evrytime in this forum, the best way to learn is studying

So your question is not so simple but you can try to resolve going thorougly in the argument:

1 go to coinmarketcap and switch to TOKENS
2 choose a token
3 go in their website
4 switch again to the general list and choose a coin, for example Litecoin
5 go in their website
6 find out the differences

A token is like a crypto stock a coin is more like a currency but it is not so simple....find out by yourself is the best way!

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February 16, 2018, 07:23:13 PM
 #15

Altcoin - Exists, is minerable and have a market.
Token - Coins of a project that is in beta fase.
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February 17, 2018, 05:13:44 AM
 #16

Now I know the difference of an altcoin to a token, then can someone tell me who knows how to make a token change or trade into an altcoin or bitcoin?
Genzdra24
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February 17, 2018, 05:27:06 AM
 #17

hi the difference between altcoin and token. Altcoin is a crypto currency we can called also a alternative coins this coins is exist and it's already in the market while token is the decentralize applications or just on a project.
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February 17, 2018, 06:35:25 AM
 #18

Could someone please explain to me what is the difference between an Altcoin and a Token.
I'm a newbie, so please don't mind me asking.

I took part in some airdrop recently and now I was told that it is a token and not a coin. What does that mean ? What can I do with it ?
Can I trade tokens ?
What's the point of having tokens ?


I thinks its funny to find out that you are a member rank but you don't know the differences between altcoin and token. The main differences of them are
their structure which is altcoins was separate currency with their own separate blockchain. And tokens on the top that has services to the creation of decentralized application.
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February 17, 2018, 06:38:27 AM
 #19

Tokens are part of the ethereum network but Altcoins have their own blockchain.
breadginger56
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February 17, 2018, 07:23:05 AM
 #20

Could someone please explain to me what is the difference between an Altcoin and a Token.
I'm a newbie, so please don't mind me asking.

I took part in some airdrop recently and now I was told that it is a token and not a coin. What does that mean ? What can I do with it ?
Can I trade tokens ?
What's the point of having tokens ?


I thinks its funny to find out that you are a member rank but you don't know the differences between altcoin and token. The main differences of them are
their structure which is altcoins was separate currency with their own separate blockchain. And tokens on the top that has services to the creation of decentralized application.
But can we trade tokens? And how? I also want an answer too since I'm having trouble finding an answer in the web and I know someone in the forum like you might know.
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