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COIN vs TOKEN...
In the context of cryptocurrency, tokens and coins are often used interchangeably, but they have distinct differences:
*Coin:*
- A digital currency that uses its own blockchain.
- Examples: Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC).
- Coins are typically used as a store of value, medium of exchange, or unit of account.
- They are often considered a form of decentralized money.
*Token:*
- A digital asset issued on top of another blockchain (e.g., Ethereum).
- Examples: ERC-20 tokens like DAI, UNI, or SUSHI.
- Tokens represent a particular asset or utility, such as voting rights, access to a service, or a physical asset.
- They are often used for fundraising (ICO/STO), decentralized finance (DeFi), or as a utility token for a specific platform.
In summary, coins are standalone cryptocurrencies with their own blockchain, while tokens are digital assets built on top of an existing blockchain, representing a specific use case or asset.