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Author Topic: Place of token  (Read 115 times)
garciacarral
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September 25, 2018, 01:14:41 PM
Merited by garthkiser (1)
 #1

Tokens or coins? This question is very popular here and some people can’t understand differences between these two determinations. As for me, I have not got it till the end but I believe that I will do it, but it is clear that they have different ways of organizations and technologies of processes that give them various opportunities including stronger and weaker sides. So is it profitable to work with tokens in accordance to the current cryptocurrency market and its hard stability? What future do they have at all? And what trends do they have like the one of working here?
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itssawai
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September 25, 2018, 01:36:19 PM
 #2

The simplest answer will be, You have Ethereum platform with its own blockchain and coin named Ethereum(ETH) which can be mined, and you have various ERC20 tokens, which are built on Ethereum platform, uses Ethereum blockchain and wallet for transactions. A coin is basically built on its own blockchain, with its own wallet, whereas token is built on another platform like Ethereum, Waves, EOS etc. A token will use the platform's blockchain and their wallet address to facilitate transactions.

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askmecrypto
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September 25, 2018, 01:41:28 PM
 #3

The simplest answer will be, You have Ethereum platform with its own blockchain and coin named Ethereum(ETH) which can be mined, and you have various ERC20 tokens, which are built on Ethereum platform, uses Ethereum blockchain and wallet for transactions. A coin is basically built on its own blockchain, with its own wallet, whereas token is built on another platform like Ethereum, Waves, EOS etc. A token will use the platform's blockchain and their wallet address to facilitate transactions.

Very well answered. But the point of "its own wallet" is not necessarily true.
Even a token can make a coin wallet as it would be considered as dApp on the coin network.
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September 25, 2018, 01:42:00 PM
 #4

There's no definite answet and it all depends on the project. When it comes to coins, i don't think anything comes even close to what BTC is as far as scalability and decentralization goes.
As for tokens, you gotta DYOR. Teams and goals vary, as well as rewards for owning the tokens, if we're not talking just in a speculative manner. I've invested in plenty of fruitful projects that have working solutions, but that came along with a couple failed ones, it's a capitalist market, there are many opportunities and even more ways to fail.

That said, i believe that crypto is the future and after this bull market we'll see an influx of the good and lasting projects, that thrived and have a great value.
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September 25, 2018, 01:51:37 PM
 #5

The simplest answer will be, You have Ethereum platform with its own blockchain and coin named Ethereum(ETH) which can be mined, and you have various ERC20 tokens, which are built on Ethereum platform, uses Ethereum blockchain and wallet for transactions. A coin is basically built on its own blockchain, with its own wallet, whereas token is built on another platform like Ethereum, Waves, EOS etc. A token will use the platform's blockchain and their wallet address to facilitate transactions.

Very well answered. But the point of "its own wallet" is not necessarily true.
Even a token can make a coin wallet as it would be considered as dApp on the coin network.


Was also confuse when ETHERUEM came in years ago. There were just coins all over the forum and give away but eth came with its own chain and developers creating tokens using their blockchain which now they call tokens.  But its also true about that wallet. EIDOO is an ERC token which you an use MEW with it but it has its own wallet and its exchagne will even be release soon.




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limmousine
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September 25, 2018, 01:54:05 PM
 #6

What future do they have at all?

it all depends on the project they are building, whether their product will be in accordance with their main objectives and can contribute to solving the problems they offer in whitepaper or not at all.

And what trends do they have like the one of working here?

what trend do you mean? this forum is a place to share information and a place for developers to communicate with their communities, here developers also make announcements if there is progress or updates in their projects.
brenzosa
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September 25, 2018, 01:56:28 PM
 #7

Coins have their own blockchains whereas tokens are created on other blockchains like ethereum and bitshares. Tokens can easily be created on blockchains that supports smart contract.  This is preferred by many companies and institutions where they dont want to maintain their own blockchains.  Disadvatage would be relying on the carrier blockchain.  If the blockchain is traffic and loaded, transactions will be hard to get through.
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September 25, 2018, 06:03:59 PM
 #8

The simplest answer will be, You have Ethereum platform with its own blockchain and coin named Ethereum(ETH) which can be mined, and you have various ERC20 tokens, which are built on Ethereum platform, uses Ethereum blockchain and wallet for transactions. A coin is basically built on its own blockchain, with its own wallet, whereas token is built on another platform like Ethereum, Waves, EOS etc. A token will use the platform's blockchain and their wallet address to facilitate transactions.

Very well answered. But the point of "its own wallet" is not necessarily true.
Even a token can make a coin wallet as it would be considered as dApp on the coin network.


Tokens can have wallet but it's just an address and eventually, those wallets are linked to some blockchain platform like ETH, NEO and these transactions will be performed via that blockchain network. What I meant with wallet is the real place which is responsible for storing that token and it's transactions which of course will be on its parent blockchain network.

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