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Author Topic: Difference between a token and a coin.  (Read 792 times)

Offline Korkor

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Difference between a token and a coin.
« on: October 29, 2018, 10:26:59 AM »
I learnt that a token is used on a specific platform and the value cannot be specified whiles a coin is established and the price can be determined. It is accepted and used for various transactions and an example is Bitcoin.

Offline Togacity

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Re: Difference between a token and a coin.
« Reply #1 on: January 17, 2019, 09:20:52 AM »
I see, great learning from  :). This means Ethereum too is a coin right?

Offline Prem Thakurain

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Re: Difference between a token and a coin.
« Reply #2 on: January 19, 2019, 04:54:42 PM »
Thanks you for explanation between a token and a coin.

Offline Rituvohra01

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Re: Difference between a token and a coin.
« Reply #3 on: January 22, 2019, 05:19:39 AM »
Tokens are built and hosted on existing blockchain. Coins are standalone cryptocurrency based on their own blockchain.


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Offline kemswag

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Re: Difference between a token and a coin.
« Reply #4 on: January 26, 2019, 12:31:47 AM »
Exactly, the easiest and simplest difference between a token and a coin is that a token is a crypto that has no exact value on the crypto market. On the other hand, a token becomes a coin when it gets listed on an exchange.

Offline Gwapoman

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Re: Difference between a token and a coin.
« Reply #5 on: January 26, 2019, 03:00:45 AM »
read this article https://medium.com/@bonpay/what-is-the-difference-between-coins-and-tokens-6cedff311c31
it's a good read about the difference between a coin and a token.


Offline ryap12

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Re: Difference between a token and a coin.
« Reply #6 on: January 26, 2019, 03:44:32 AM »
Tokens are built and hosted on existing blockchain. Coins are standalone cryptocurrency based on their own blockchain.

This is the precise definition between their differences. A token cannot be made first without the coin of the same blockchain.

When you hear "MAINNET IS LAUNCHING", that means the token is going to have their own blockchain and is going to turn into a coin.

NOTE: Don't think that, that TOKEN is really TURNING INTO A COIN. What I mean is that the TOKEN on that blockchain will become valueless and a new coin will be created on their own blockchain.

Offline Delgboke

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Re: Difference between a token and a coin.
« Reply #7 on: May 10, 2019, 02:42:52 PM »
The different here is that token passes the process of generation in order to be excepted in the crypto market before it can be called coins without that it cannot be coins.

Offline Clektai

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Re: Difference between a token and a coin.
« Reply #8 on: May 15, 2019, 09:18:53 PM »
I'll try as much as possible to answer this question in plain terms as i can,
Well A token in terms of cryptocurrency, is a cryptocurrency that is being issued on another blockchain, meaning it is yet to have its own personal blockchain like a mainnet, where transactions can be viewed, and also have its own blockchain explorer , major examples of this are tokens issued on the ethereum blockchain, that is why they are called ERC-20 tokens  and not ERC-20 coins
 Whereas a coin on the other hand
Is a cryptocurrency that has its own functional blockchain, and an explorer where transactions can be viewed , And a major example of this is VEIL coin, it is called a coin because it has its own blockchain, explorer and also its own wallet

Offline hunter80

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Re: Difference between a token and a coin.
« Reply #9 on: June 12, 2019, 03:53:57 PM »
Tokens serve the tasks of a specific project, and coins are issued specifically for payments.

 

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