What is a token ?

[Saj555 2250]

Tokens are the subsidiary option of the currencies. As the tokens cannot be said as the currencies but it has a lot of value in the crypto market. People love to trade with tokens also. Not all the tokens are famous but quite a few are quite interesting to know about. Sometimes these tokens are actually  compared as valuable as the coins.  But these are not currencies but it is a part of the currencies.  

[bliznec 22268]

Comparison of chips and casinos, as here on the blockchain, significantly affect bitcoin. Bitcoin can also be exchanged for money through exchange exchanges. 

[Moaz 7239]

It's really important information about the token and its meaning. I have provided a good and understandable explanation about the token, and indeed the token looks like casino chips that's right, I think.

[Honny143 13612]

You discussed casino tokens in this topic but I can't play any casino games, but I watch some videos in you tube  so this tokens use in casino replace  money, because use real money is illegal so they use tokens, and this tokens have different value like our real money, when the games end we exchange this tokens and take real money.

[lharost 1526]

Tokens do not use their own blockchain and network and their token works on other networks and blockchain like Ethereum, there are tons of tokens that use Ethereum network for their and so they are not coin and are being called token instead.

[Whited35 15285]

Everything in your topics about Token in your topics so I would like to summarize the crux of matter. Token is actually a cryptocurrency which is built by depending on the existing blockchain. For example BAT is token based on the Ethereum's Blockchain. 

[ETheHedgehog 3104]

generally speaking, a token is a type of coin that doesn't have it's own technology and instead uses an existing technology, for example a lot of tokens use the erc20 which was created by Ethereum

[Soaib khan 1035]

thanks for sharing this amazing Information about it most of the people are confused between coins and tokens because cryptocurrency market is very new these days it is impossible to learn everything at fast speed 

[BrolySSJ 7899]

I think that the definition that i read on this forum a couple days ago is actually much better than the definition that you are providing here, and so i woudl like to share that with the users of this forum. the post that i saw said that token are based on the network of another coin. for example it is a variation of a coin that already exists and uses their network. Such is the bitcoin (which is the main coin) and then you get bitcoin cash which is a token because it is based on the bitcoin technology.

[Rahul11 292]

On 4/1/2020 at 7:59 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 short I can say which is created under other blockchain network is called token. And mostly tokens use erc20 platform. They run their tokens via smart contract.

[Jeet Narayan 1940]

Token is similar like crypto coins but token is not considered for real Money. Actually in Crypto world token divides into two types ERC20 and blockchain and it is the part of coins or blockchain technology.

[Ndayebo8 0]

Tokens are created without having a blockchain until they got listed or linked to an exchange were it appears to the coinmarket by then you don't call it a token but a coin.

[Dark_Sky 8489]

On 4/2/2020 at 1:23 AM, Jahida 67 said:

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

That's right there are lots of tokens but most of them are fake so beware to have those kind. Just buy token which has a high value and sell it to have some profit. 

[scorpiali 5626]

Very good for every one to know the meaning of the token and the coin because it's little bit different and any one have his specific point ,Thanks for sharing that 

[Jimmy26 987]

On 4/1/2020 at 8:11 PM, 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.

Thanks for giving your explanation about token you have explained it so well now I can clear my doubts easily because explanation has given I am not cleared with even I am getting more confusion so keep giving your explanation and ideas about the content so like this other members can also get help.

[magd 5231]

There are a lot of beginners in the field of trading mistake between alternative currencies and symbols where they believe that Ethereum is a symbol so it is important to point out that symbols are projects that start with the names of promotional and affiliated with small parties maybe a platform and maybe someone like the BNB symbol of the Binance platform

[Thekingcallme 1975]

Token is the first coin creation that is affiliated with a blockchain system and does not own its own blockchain

[Captain Karim 0]

However, it should be noted that there are many of these fraudulent token to be wary of.
Each person must study a project of any digital currency or any token.

[gourav789 2834]

@Michael0606 explained well About it , I also see mostly token used ERC 20 contract adress , because Etherium network provide a good opportunity . there is some differences between token and coin .

[Jessica Karren 1242]

Tokens are built and hosted on existing blockchain network, it don't have their own blockchain. Tokens can't operate independently, it has specific use in the project ecosystem. Like ERC-20 tokens are designed and used on the Ethereum blockchain platform.

[Sarahden111 1231]

Token, in other words, a currency weaker than the coin, and some tokens are offered for circulation only without the existence of a project that supports them or without the presence of two blocks. There is a lot of climate, some of which have persisted, some of which have disappeared, but the first stage of their circulation remains the most dangerous in my opinion.

[sayems 1513]

Yes you are right my friend, Tokens are objects similar to coins, but unlike the latter, tokens lack legal course value. As a beginner,  as i can know, a thing serving as a visible or tangible representation of a fact, quality, feeling. And you are also right,  i love your topic and post. 

[Izeal 4404]

In a simple language token is are the new coins which aren't listed on the markets, even we can earn free tokens from airdrop which can be traded with top cryptocurrencies in a high rate.

 

[Mwangi 5611]

I have never understood what is tokens and though in a much ligher way of putting it , we use to pay our bills here in kenya with tokens , then its important we also understand the true meaning of tokens in crypto currency . Thanks for this now I know the true meaning .

[Dark_Sky 8489]

On 7/28/2020 at 2:29 AM, Izeal said:

In a simple language token is are the new coins which aren't listed on the markets, even we can earn free tokens from airdrop which can be traded with top cryptocurrencies in a high rate.

 

That's right and one of the example of token is talktoken which is the payment for every useful content here in cryptotalk. We can convert our talk token when September come. If you want to know other types of token you can check the market for the list of those.