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Cryptocurrency "Coin" vs. Symbols "Token" - doaausef3li - 20-08-2024
Cryptocurrency "Coin" vs. Symbols "Token"
Research in the field of cryptocurrencies is very deep, and when we focus on it, we find that there is a big difference between the cryptocurrency Coin and the distinctive symbol Token, which is used as a synonym for cryptocurrency.
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Technically, the cryptocurrency Coin is a cryptocurrency and has its own original blockchain, and to clarify, we will show the following example: -
Bitcoin has its own and independent blockchain that records all transactions related to Bitcoin. It is recorded on the Bitcoin blockchain ledger, and Bitcoin transactions are faster and easier than banks. The cryptocurrency Coin that has a locally developed blockchain includes Ripple, Ethereum, and Waves.
A token represents an asset or service and exists on another blockchain network. The available tools for the current blockchain will be used in crypto projects. Through it, its own tokens will be issued instead of creating its own blockchain.
This confirms that the tokens do not have their own original blockchain, and the blockchain platform widely used in crypto projects is the Ethereum blockchain, and its usage rate reaches 85 percent, and its token is issued through it.