Coins are digital assets that operate on their own independent blockchain. They primarily function as a medium of exchange, similar to traditional fiat currencies. Examples include Bitcoin and Ethereum. They have a variety of use cases, from governance to gas payments, and are often modeled to be deflationary.
Most coins have a limited supply that is quite scarce, with few circulating at any one time in their early stages. For example, there will always be 21 million Bitcoins, and 19.8 million in circulation.
Tokens are digital assets that operate on an existing blockchain network. They are typically associated with a specific project or protocol within a blockchain ecosystem and can have a variety of functions, such as granting access to certain features or representing ownership of a digital asset. Examples include ERC-20, BEP20, and Trc-20 tokens. All meme currencies are tokens.
The supply for most tokens is not deflationary in nature, as they are not scarce, they are only for short-term trading. That is why they are minted in billions and even trillions to meet the current trend. A good example is Shiba Inu, Bonk and Notcoin.
Coins are harder to maintain because they need a functioning Blockchain to thrive, while tokens can be minted in a flash because they only leverage the infrastructure provided by the coin's ecosystem...