What is a token ?

[Wilmer Garcia 0]

One of the words we see most in the world of cryptocurrencies is the word token. The reason behind this is that these are fundamental part of the nature of cryptocurrencies.

 

Tokens are objects similar to coins, but unlike the latter, tokens lack legal course value.

You've probably already given up on an idea that it's a token after reading this short definition. But let's make this a little more practical. Let's take casino tokens as an example. Think about it a little bit, a casino chip has no value on the street. With them you can't buy anything in any store, nor can you pay anything outside the casino. This is because casino chips lack legal course value.

And in this "legal course value" thing is the trick. The concept of legal course value, refers to what we use to pay, is widely accepted and is legally admissible as a means of payment. The currencies of countries, such as the dollar or the euro, are tokens that have legal course value. But not a casino token. That's why you can't use them to pay for things in stores.

However, casino chips can be exchanged for legal money, at the casino that issued them. This is the casino accepts that the chips have a value and will pay you that value in legal tender.

 

 

[rekter 8129]

43 minutes ago, Wilmer Garcia said:

One of the words we see most in the world of cryptocurrencies is the word token. The reason behind this is that these are fundamental part of the nature of cryptocurrencies.

 

Tokens are objects similar to coins, but unlike the latter, tokens lack legal course value.

You've probably already given up on an idea that it's a token after reading this short definition. But let's make this a little more practical. Let's take casino tokens as an example. Think about it a little bit, a casino chip has no value on the street. With them you can't buy anything in any store, nor can you pay anything outside the casino. This is because casino chips lack legal course value.

And in this "legal course value" thing is the trick. The concept of legal course value, refers to what we use to pay, is widely accepted and is legally admissible as a means of payment. The currencies of countries, such as the dollar or the euro, are tokens that have legal course value. But not a casino token. That's why you can't use them to pay for things in stores.

However, casino chips can be exchanged for legal money, at the casino that issued them. This is the casino accepts that the chips have a value and will pay you that value in legal tender.

 

 

Let me correct you. In context of cryptocurrecies, tokens are nothing like coins. They are build top of other coins that have their own blockchains like ETH and result is that tokens don't have their own blockchains, they are just using in the same ecosystem (or blockchain) they were issued in.

Edited April 1, 2020 by rekter

[Omar Ommeish 4872]

In economics, everything that achieves financial value is money for people, meaning that every group of people can issue their own currency, but that currency will not be accepted by law.

[Michael0606 861]

A token is created under various types of network, the best known is ERC20 under the ethereum network, there are also, the stella network, also the onmi network, this was created to simplify and give value to a token, in  a parallel market to the one we already know.

[Jahida 67 960]

There are different types of tokens, you can make money by exchanging them and you can use these tokens for different tasks.thank you

[malik6314193 5449]

Thanks for sharing this useful information with us and i think token is as same like coin but it is have not such value like a full coin. It is use to exchange. 

[tienda 8776]

Thank you for sharing this information, is important to know anything about this cryptocurrency adventure, and the token now are more developed than before, because before in 2018 70% of ICO Tokens are not listed in website exchange, but now yes exist in all markets

 

 

[Brand1 1336]

Symbols are new currencies with new projects and these symbols have very low prices and members work to collect them in exchange for doing many tasks. In the end it is possible that the projects of these symbols are fraudulent and do not pay anything to you

[Zaino34 0]

Symbols are also currencies that have a certain value, such as digital currencies, and can be used, but in most cases, their price is low compared to other digital currencies.

[pablomarwan 3082]

Now I understood that I only included digital currencies, but since I explained more, this means that they have symbols of value, of course, but they do not have them in multiple places, such as what I said the casino coins replace them in the places designated for them only
Thank you I used to coin it with this name It means coding it in the crypto world

[Nezar 7169]

Everything you say is true Symbols are completely different from currencies with many things and these days, most symbol projects are fraudulent and steal money and are a waste of food, so I prefer to work using popular currencies and the high price

[BTC Future 3946]

Your explanation of tokens is great, especially the example given with the use of casino chips.

In crypto world though, we tend to call tokens the cryptocurrencies that don't have their own blockchain and basically use other platforms (blockchains as Ethereum, Tron, EOS) as hosts.

[iloveyobit 6599]

Thank you for the information. I have always had a problem understanding the difference between a currency and a token, and I think the majority of members here have the same problem in that.

[Ch Ayyan 9781]

Tokens are also somehow  similar to coins in crypto  currencies.  The main difference  is that coins has their own blockchain but tokens don't  have.

[Michael0606 861]

Very true what you say in the publication, since there are always new tokens and these most do not have or will have value, that depends on the company currency and administrator of that currency, that is why it is recommended to work with known tokens and dr confidence.

[alexisfuentes 2130]

On 4/1/2020 at 9:59 AM, Wilmer Garcia said:

One of the words we see most in the world of cryptocurrencies is the word token. The reason behind this is that these are fundamental part of the nature of cryptocurrencies.

 

Tokens are objects similar to coins, but unlike the latter, tokens lack legal course value.

You've probably already given up on an idea that it's a token after reading this short definition. But let's make this a little more practical. Let's take casino tokens as an example. Think about it a little bit, a casino chip has no value on the street. With them you can't buy anything in any store, nor can you pay anything outside the casino. This is because casino chips lack legal course value.

And in this "legal course value" thing is the trick. The concept of legal course value, refers to what we use to pay, is widely accepted and is legally admissible as a means of payment. The currencies of countries, such as the dollar or the euro, are tokens that have legal course value. But not a casino token. That's why you can't use them to pay for things in stores.

However, casino chips can be exchanged for legal money, at the casino that issued them. This is the casino accepts that the chips have a value and will pay you that value in legal tender.

 

 

This is wrong, you OP come in a continuous series of errors, your posts give you a bad approach, you should not try to define concepts that you do not master.

You should focus your OPs on what you think you know, not on trying to give definitions.

 

On 4/1/2020 at 10:41 AM, rekter said:

Let me correct you. In context of cryptocurrecies, tokens are nothing like coins. They are build top of other coins that have their own blockchains like ETH and result is that tokens don't have their own blockchains, they are just using in the same ecosystem (or blockchain) they were issued in.

Very good you post!

 

I would add that they can be classified into utility tokens and value tokens, mainly. The most popular are those that are developed in the ethereum network known as the ERC-20.

 

[Raven 7817]

On 4/1/2020 at 9:59 PM, Wilmer Garcia said:

One of the words we see most in the world of cryptocurrencies is the word token. The reason behind this is that these are fundamental part of the nature of cryptocurrencies.

 

Tokens are objects similar to coins, but unlike the latter, tokens lack legal course value.

You've probably already given up on an idea that it's a token after reading this short definition. But let's make this a little more practical. Let's take casino tokens as an example. Think about it a little bit, a casino chip has no value on the street. With them you can't buy anything in any store, nor can you pay anything outside the casino. This is because casino chips lack legal course value.

And in this "legal course value" thing is the trick. The concept of legal course value, refers to what we use to pay, is widely accepted and is legally admissible as a means of payment. The currencies of countries, such as the dollar or the euro, are tokens that have legal course value. But not a casino token. That's why you can't use them to pay for things in stores.

However, casino chips can be exchanged for legal money, at the casino that issued them. This is the casino accepts that the chips have a value and will pay you that value in legal tender.

 

 

Thanks for sharing this valuable information about tokens and coins. As far as i know coins is the currency that we could used for investing just like bitcoin, litecoin, dogecoin, and etc.. While token is part of blockchain technology. Could you elaborate more the meaning of token? 

[George10 9932]

Tokens are crypto coins that doesn't have their own blockchain but uses other coins's blockchain network to function that's my definition of token in cryptocurrency if I'm wrong I deserve to be controlled thanks.

[Hanan951 841]

On 4/1/2020 at 5:05 PM, SunilRaja said:

Tokens are similar to coins in my opinion . I think tokens has lower value than the coins . But some tokens that are listed on Binance has High value compare to other coins.

They have a higher price because of the platforms Binance is a good platform for all coins in general if we put wrx in random platform it will fall not like Binance or kucoin also.

[rianpedia 816]

On 4/7/2020 at 3:57 PM, George10 said:

Tokens are crypto coins that doesn't have their own blockchain but uses other coins's blockchain network to function that's my definition of token in cryptocurrency if I'm wrong I deserve to be controlled thanks.

It's a kind of derivative from other coins, and the token has a small project but can produce like a coin. They ride a blockchain system on famous coins, for example ethereum, which often lists a lot of new tokens.

[Prince90 668]

Token is kind of small part of the coin such as bitcoin is a coin and we get the smallest quantity of the bitcoin called satoshi. Same way tokens are works. Just think that tokens are children and coins are parent. Any new coin in the market , they relaese forst their token of that particular coin. And thats how they sponsor their coin in the market.

[bentayebsalah 2280]

Token are currencies in their early stages, they do not have their own blockchain and they are affiliated with one of the platforms such as Ethereum ERC20 and you should beware because most of the token is a scam

[Rickso 768]

On 4/1/2020 at 3:59 PM, Wilmer Garcia said:

One of the words we see most in the world of cryptocurrencies is the word token. The reason behind this is that these are fundamental part of the nature of cryptocurrencies.

 

Tokens are objects similar to coins, but unlike the latter, tokens lack legal course value.

You've probably already given up on an idea that it's a token after reading this short definition. But let's make this a little more practical. Let's take casino tokens as an example. Think about it a little bit, a casino chip has no value on the street. With them you can't buy anything in any store, nor can you pay anything outside the casino. This is because casino chips lack legal course value.

And in this "legal course value" thing is the trick. The concept of legal course value, refers to what we use to pay, is widely accepted and is legally admissible as a means of payment. The currencies of countries, such as the dollar or the euro, are tokens that have legal course value. But not a casino token. That's why you can't use them to pay for things in stores.

However, casino chips can be exchanged for legal money, at the casino that issued them. This is the casino accepts that the chips have a value and will pay you that value in legal tender.

 

 

in the crypto world a token is not what your are saying.

 

a token is crypto currency that doesn't run on his own blockchain but instead it uses another one. for example basic attention token (bat) is a token that runs on the ethereum blockchain and not on his blockchain

[jerry2493 370]

Yesterday I was read this word on a website I don't know what is broken but one thing which is running in my mind token will be like equal to coin value for example if a coin value is thousand satoshies this token will be equal to thousand if anyone knows about token please clear my concept.

[Divya rana 1252]

Thank you for making this clear to me that what are talking actually means broken is actually a kind of coin which is also used for trading purposes but those token need not  not listed on exchanges so coins which I'm not listed may be called token so no I'm well aware about tokens and coins and thank you for providing this information and helping me out.