COIN VS TOKEN
Cryptocurrencies can be categorized into two:
Coin
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Token
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Coins are any cryptocurrency that has a standalone independent blockchain. A coin uses its own blockchain to keep track of all the data |
Token is an asset that does not have its own blockchain but live on other blockchain networks, from which technology they benefit. |
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Coins typically draw inspiration from past technologies or other cryptocurrencies and fuse them into an innovative network catering to a specific purpose |
Unique outlay of broader smart contracts platforms like Ethereum.
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Is money therefore a source of payment |
Used both as payments and contracts |
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Coins can be mined |
Can / Cannot be mined |
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Bitcoin, Ethereum, XRP |
Dai, Maker, Augur, Komodo |