Cryptocurrency Q&A
What's the difference between token and coin?
What's the difference between token and coin?
Nicola
Sat Nov 02 2024
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6
answers
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I am trying to understand the difference between a token and a coin in the cryptocurrency world. I want to know how they differ in terms of their function, usage, and the technology behind them.
6 answers
Elena
Mon Nov 04 2024
The words "coin" and "token" are frequently utilized as synonyms within the cryptocurrency domain.
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Elena
Mon Nov 04 2024
However, it is important to note that they do not hold the same meaning.
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CryptoSavant
Mon Nov 04 2024
A coin operates as a medium of exchange, akin to traditional currencies.
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Giuseppe
Sun Nov 03 2024
On the other hand, tokens can serve a multitude of purposes beyond just being a form of money.
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BitcoinBaroness
Sun Nov 03 2024
A coin is inherently tied to its Layer-1 blockchain, meaning it cannot exist outside of that particular network.
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