younagendra2
about 1 year ago  Karma: 147
Coin Vs Token?

What is the difference between a coin and token in cryptocurrency.

coin
token
Coin Vs. Token
ERC20 Token
younagendra2
about 1 year ago  Karma: 147
Coin Vs Token?

What is the difference between a coin and token in cryptocurrency.

coin
token
Coin Vs. Token
ERC20 Token

5 ANSWERS
ozoanihenry
about 1 year ago Karma: 353

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!
Coins are currencies that are used as a medium of payment in blockchain app. Bitcoin was the first Cryptocurrency. Other coins like ripple are all regarded as altcoin

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!
Coins are currencies that are used as a medium of payment in blockchain app. Bitcoin was the first Cryptocurrency. Other coins like ripple are all regarded as altcoin

rksethuram9
about 1 year ago Karma: 314

They can be used pretty much interchangeably. For me, I consider a "token" to be an ERC20 token, that is a token that is defined, managed, and controlled by a smart contract on the Ethereum blockchain. ERC20 defines a standard interface that the token contract must conform to: https://theethereum.wiki/w/index.php/ERC20_Token_Standard.

"Coins" can live on other blockchains, some examples would be XMR (Monero), BTC (Bitcoin), EOS, IOTA, etc.

They can be used pretty much interchangeably. For me, I consider a "token" to be an ERC20 token, that is a token that is defined, managed, and controlled by a smart contract on the Ethereum blockchain. ERC20 defines a standard interface that the token contract must conform to: https://theethereum.wiki/w/index.php/ERC20_Token_Standard.

"Coins" can live on other blockchains, some examples would be XMR (Monero), BTC (Bitcoin), EOS, IOTA, etc.

r.chesne
about 1 year ago Karma: 10

Both are digital assets. The difference is a coin is a native digital asset on its own blockchain whereas a token sits on another coin's blockchain.

For Ethereum's case. Ether is the coin and OmiseGo (OMG) is a token which sits on the ethereum blockchain.

Both are digital assets. The difference is a coin is a native digital asset on its own blockchain whereas a token sits on another coin's blockchain.

For Ethereum's case. Ether is the coin and OmiseGo (OMG) is a token which sits on the ethereum blockchain.

coffeetogo123
about 1 year ago Karma: 79

coin have their own blockchain while token is created by smart contract of a specific coin

coin have their own blockchain while token is created by smart contract of a specific coin

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