Explaining the different between coins and tokens

[phabulu 0]

Token is a cryptocurrency that requires another platform to exist and function. Tokens can represent anything that has been programmed into a Smart Contract on Blockchain, they are basically any assets that are fungible and tradable.

Creating tokens is much easier than creating a new currency because it uses an available platform that has already been created, which means you don't have to modify the codes of a particular protocol or create a zero block.

In short, coins are standalone cryptocurrencies that require no other platform to run on, while Tokens are created on platforms that typically have their own currency.

Understand where the definition of Cryptocurrency comes from. Cryptocurrencies are digital or virtual currencies that are encrypted using encryption. Cryptography refers to the use of encryption techniques to secure and verify the transfer of transactions.

Bitcoin represents the first decentralized cryptocurrency, which is fed by its users without a central authority or intermediaries to control and all transactions are chronologically recorded in Blockchain.

All you have to do is follow a standard block model - like Ethereum, which is chosen because of its unique and amazing block technology - that lets you create your own tokens. This functionality of creating your own tokens is possible through the use of Smart Contract, which are computer codes registered in a Blockchain, so that they cannot be deleted or edited.

There are many tokens developed on top of the Ethereum platform like EOS, VeChain, OmiseGO, Binance Coin, Augur, Status and many more. Just go to the Coinmarketcap website and click on the “Tokens” tab. There are also a number of other platforms available for tokens to develop, such as Counterparty, Bitshares, Waves, Qtum, Nxt, Omni and NEO.

 

You can also show me some support on my official steemit which is the source of this post:

https://steemit.com/token/@phabulu/explaining-the-different-between-coins-and-tokens

[lakhlomoha 485]

I think the Ethereum  blockchan and smart contract revolution token in cryptocurrency world it gives opportunity to lot of token to exit beside and then be interdependent like Tron BNB and others 

[fajarriadi 179]

On 10/21/2019 at 12:11 AM, The Dictator said:

This is what I'm happy about.
Very useful for everyone who doesn't know the difference between tokens and coins. Because most people say crypto is a coin. Even though there are categories of tokens and coins.

Yes you're right. My question has answered. Sometimes i get confused between tokens and coins. Now the problem is clearly answered. How about the token on cryptotalk? Is it just same  as bitcointalk?

[AlfFusco 664]

Thanks for the article, very useful for both beginners and experienced users. It's pretty easy to understand and clearly written.

[spyaquino 907]

Yes, while digital currency, altcoins, have their own blockchains and platforms. Currency examples: BTC, XLM, NRG, among others.

[fajarriadi 179]

7 hours ago, The Dictator said:

does Bitcointalk or Cryptotalk have their own tokens? Why I did not know this if there really is a token. I have never even talked about tokens in any of these forums.

In fact, it is the first time i learn this. I am very sorry if i can't clearly understand what do you mean. I still have to learn more, i hope we can make a friend and keep sharing each other.

[fajarriadi 179]

8 hours ago, The Dictator said:

 

I guess you are talking about this forum token or bitcointalk forum. Sorry, my friend misrepresented what you said in the previous post.

No problem friend. It was my fault, i should have understood before i wrote in the topic. Later, i hope i do not make the same mistake.

Edited October 25, 2019 by fajarriadi

[sidik7 1217]

usefull for the content in above we can easy for comparison for the coin and token and getting new knowledge about token and coin . thanks for your sharing

[fajarriadi 179]

8 hours ago, The Dictator said:

Yeah, we all have mistakes and that doesn't matter to me.

 

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What is certain is that coins and tokens are something different, because most people interpret this to be the same.

I thought that these are the same things and  they have the same function.

Now i little bit understand and i'll learn it more. Very thanks for your kindness mate, don't ever bored to guide me on the other topics later. 

[FlappYZoK 2493]

Wooow, i didn't really know that there is the difference between these two conceptions. This forum makes me more clever in the cryptocurrecny sphere. Thank you!

[ghostrid3r 146]

 

remarkably written post about the differences, I think that a lot will become clear to the difference, I even picked up something interesting for myself, thanks for the article. It turns out to be useful to read and not guess about everything.

[Corrado25 9442]

Thanks for the great topic. The tokens are really easy to create because many famous blockchains provide this opportunity. The most famous blockchain ETH I think has hundreds and maybe thousands of tokens. And one of the most famous tokens is the USDT crypto dollar.

[nenni 96]

A token is a digital asset issued by a project that can be used as a payment instrument in the project ecosystem

Coin has similarities in terms of its function as a currency that applies in the project ecosystem itself.

 But the difference is, coin has its own blockchain or in another language,builds its own mainnet

[yifnt 666]

The ease of making tokens for new projects is more to bad things, many new projects are born with different names, they are also vulnerable to fraud. Actually this is very detrimental to Ethereum which in fact is now Ethereum is weak when Bitcoin is high.

[alexisfuentes 2130]

On 10/18/2019 at 12:02 AM, phabulu said:

https://steemit.com/token/@phabulu/explaining-the-different-between-coins-and-tokens

Like it your official steemit but no power voto :)

so in steemit el coins is Steem and the token Sbd. 

 

[Aceventura 208]

A token is a secondary asset for a particular application on a blockchain ecosystem which also has a market value, but it isn’t a currency as straightforward as Bitcoin or Litecoin.

Also, coins like Ethereum that can exist independently, but tokens can’t exist without the Ethereum infrastructure.

[Mutahir Arshad 48]

I think the Ethereum blockchan and shrewd agreement insurgency token in cryptographic money world it offers chance to parcel of token to exit next to and afterward be associated like Tron BNB and others