We see that many people use the crypto coin, crypto talking, and cryptocurrency interchangeably and they are not the same thing. At a fundamental level, coins and tokens are quite similar. They both represent value and can process payments. You can also swap coins for tokens. And the main difference between tokens comes in utility, which is something you can do with tokens and not with coins. Whereas some marketplaces will accept and not the token.
Coins work on their own blockchain while tokens do not have their own blockchain. Coins can perform minimum functions, whereas tokens typically provide a great deal of functionality in comparison with coins.
Tokens are easier to create in comparison to coins. Crypto tokens, like crypto coins, are designed using blockchain technology, however crypto tokens are not a blockchain tax network, moreover, they are deleted on top of it. Smart contracts are often used to serve a variety of purposes.
While crypto coins mimic traditional currency, crypto talking tokens are more like assets or deeds, a crypto token a DAO can represent a digital product or an NFT, or even a share of ownership in a physical object. Crypto tokens can be bought, sold, and traded like coins, but they are not used as a news medium of exchange.
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