Some people don’t know the difference between a COIN and TOKEN. While some people use the phrases ‘crypto coin’, ‘crypto token’ and ‘cryptocurrency’ the truth is, they are not the same. COINS and TOKEN are often misunderstood and thought to be the exact same thing but we'll know that after now. WHAT IS CRYPTO COIN? Is a cryptocurrency that exist digitally, in other word a CRYPTO COINS are native to their individual blockchain…Examples are, The BITCOIN blockchain coin is BTC which is the most popular coin. The ETHEREUM blockchain has ETH which can be use to build a decentralized project. The LITECOIN blockchain uses LTC… All this are designed to store value and work as medium of exchange…COINS are meant to be used directly for transactions, similar to conventional money. WHAT IS TOKENS? Tokens are designed using blockchain technology. Tokens aren’t native to a blockchain, they are built on it. Tokens are like coupons, while Coins are like dollars...Most tokens exist for the purpose of being used with decentralized applications, or dApps. When developers are creating their token, they can decide how many units they want to make and where these new tokens will be sent when they are created. Examples of a token are the most popular which is the Ethereum blockchain known as ERC-20. Next is the stable USD coin which is USDC and it’s also build on the Ethereum blockchain… All digital currencies are called cryptocurrencies but not all cryptocurrencies can be called COINS… Knowing the difference between them both will help you in the crypto aspect... It is good to understand these terminologies and also have knowledge about various aspects of the crypto world , those knowledge are really important and they will help you to go a long way in the crypto trading world , lack of proper knowledge and information is the reason why some traders keep failing as a crypto trader/investor..  [Image source](https://coinflip.tech/blog/coin-vs-token-whats-the-difference) Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@vozuela/tokens-vs-coins-understanding-the-difference)
| author | vozuela | ||||||
|---|---|---|---|---|---|---|---|
| permlink | tokens-vs-coins-understanding-the-difference | ||||||
| category | hive-167922 | ||||||
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| created | 2022-12-09 04:53:09 | ||||||
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Hello good morning on this crisp but bright Christmas morning. This is your first blog but maybe do an introduction post first so give geta to know the new bee around.  Good luck , Merry Christmas and an advanced happy new year.
| author | brittandjosie |
|---|---|
| permlink | re-vozuela-20221225t91638446z |
| category | hive-167922 |
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hiveblocks