Difference between token and cryptocurrency. A cryptocurrency, also called a “coin” or “altcoin”, is a unit of value that exists on its own blockchain. … A token is different from a cryptocurrency, it is a unit of value that is created on the blockchain and acts as a host for it. This is the palpable example of BNB which has its own Blockchain and of the TWT which is based on BNB’s blockchain.
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pls throw more light on that
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Look at it like cars and fuel.
Altcoins are vehicles, yet they use the fuel (example Ethereum network gwei) to reach their destination (the transaction)
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Wow… I’ve always wondered the difference. Thanks for this short but clear explanation
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You’re welcome.
Any time
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If i may write some more:
Currency (any) is for paying. So you cant use them without something to exchange on it.
Token is a thing that got some utility use, other than just trade it or for it.
So in example: BTC is currency, LTC is currency, BNB is token, Neogas is utility token.
Sometimes, its hard to tell the diffence, but if you can use it for something else, than just trade it - its most likely token.
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Thank you for the explanation
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You’re welcome
see you soon
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Best definition socfar
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Got mine yes Ter Daaaaaay
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Na the matter we dey want settle since oo.
I swear
“Coins”= Built in there own blockchain
" Tokens"= Built in existing blockchain. Just as ERC20 tokens are built in ethereum blockchain
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