What are the differences between coin and token?

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12 Jan 2024
28

Today, I will tell you the differences between what is a token and what is a coin, which we see frequently on crypto assets.
1= Token: Tokens are assets that can be transferred digitally in the blockchain ecosystem1. A token; can represent value, service or a product1. Tokens are typically created using a specific standard (for example, Ethereum's ERC-20 standard) and run on an existing blockchain network. The main difference between tokens and coins lies in the fact that a coin has its own independent blockchain, while a token is a cryptocurrency built on an existing blockchain.
2= Coin: Coins refer to cryptocurrencies with an independent blockchain. Coins are usually developed from scratch and run on their own blockchain networks. A blockchain's own native money is called a "coin". For example, cryptocurrencies such as Bitcoin and Ethereum have their own blockchain networks
I tried to explain to you the differences between coins and tokens to the best of my ability and in line with my knowledge and research, I hope it will be useful.

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