Difference between Coin and Token
Many people believe that crypto coins and crypto tokens are the same but there are many difference between coin and token , all coins are considered tokens but all tokens can not be considered coin. A coin is a unit of currency that is native to a blockchain and is used for trading and storing value. A token is comparable to a coin, except it usually uses the blockchain of another coin. Consider Ethereum, which is a blockchain. Ether is the local currency. This network, however, is home to many other tokens, including BAT and Loopring. Coins are a recommended medium of exchange that can be represented directly by coins this is another feature that creates a difference between coin and token. Tokens, on the other hand, are a type of payment system. The tokens can be maintained for their intrinsic value, or they can be sold and staked for profit. Uniswap, Chainlink, and Polygon are just a handful of the tokens available. Another significant distinction between tokens and coins is th...