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Post 03
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COIN vs OKEN
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About the difference between a "Coin" and a "Token", this may be a bit tricky, but I will tell you easily ๐!
๐Coin
Think like our rupee notes๐ฐ. It has its own value. And we use it to do business. Coins are like that.They also have their own $BTC blockchain
That means an
own payment system ๐ณ. Coins like Bitcoin, Ethereum.
๐Token
Think like a membership card given by your club. It only gives permission to use facilities of the club. That's how tokens are. They are created on top of an already existing blockchain. Most of the time they do something related to a specific project.For example, you can use them to get voting rights in a project, or to access the project's services. How to remember easily:
Coins = like money ๐ฐ
Tokens = like membership card ๐ซ
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If there is a mistake, please comment and let others know. I will pin the best one.
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