07-23-2021, 01:09 PM
Crypto Terminology: Coin vs. Token
<!-- SC_OFF --><div class="md"><p>I learned this the other day from this terrific <a href="https://blog.liquid.com/coin-vs-token">resource</a>, having always used them interchangeably - and figured there may also be some folks who are also confused about differences between the terms <em>'Coin'</em> and <em>'Token'</em> in crypto. </p> <p> </p> <p><strong>Coin</strong> </p> <p>Coins refer to cryptocurrencies built on their own independent blockchain network. The biggest example of this would be Bitcoin which is powered by its own native blockchain network. In addition, Ethereum (ETH), Litecoin (LTC) and function on their respective blockchains. These blockchains may differ in their size, rules, miners, performance, etc.</p> <p> </p> <p><strong>Token</strong> </p> <p>Tokens refer to cryptocurrencies that don’t have a blockchain network of their own. Instead, these cryptocurrencies are built on another blockchain. Examples of tokens would be: USD Coin (USDC), DAI, UMA, and Basic Attention Token (BAT)</p> <p> </p> <p>Just wanted to post this to share the knowledge and website and hope some people find it useful!</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/pmbuttsonly"> /u/pmbuttsonly </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/opmtz7/crypto_terminology_coin_vs_token/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/opmtz7/crypto_terminology_coin_vs_token/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>I learned this the other day from this terrific <a href="https://blog.liquid.com/coin-vs-token">resource</a>, having always used them interchangeably - and figured there may also be some folks who are also confused about differences between the terms <em>'Coin'</em> and <em>'Token'</em> in crypto. </p> <p> </p> <p><strong>Coin</strong> </p> <p>Coins refer to cryptocurrencies built on their own independent blockchain network. The biggest example of this would be Bitcoin which is powered by its own native blockchain network. In addition, Ethereum (ETH), Litecoin (LTC) and function on their respective blockchains. These blockchains may differ in their size, rules, miners, performance, etc.</p> <p> </p> <p><strong>Token</strong> </p> <p>Tokens refer to cryptocurrencies that don’t have a blockchain network of their own. Instead, these cryptocurrencies are built on another blockchain. Examples of tokens would be: USD Coin (USDC), DAI, UMA, and Basic Attention Token (BAT)</p> <p> </p> <p>Just wanted to post this to share the knowledge and website and hope some people find it useful!</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/pmbuttsonly"> /u/pmbuttsonly </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/opmtz7/crypto_terminology_coin_vs_token/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/opmtz7/crypto_terminology_coin_vs_token/">[comments]</a></span>Kind Regards R