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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 😉!

📍Coin

Think like our rupee notes💰. 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 💳. Coins like Bitcoin, Ethereum.

📍Token

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 💰

Tokens = like membership card 🎫

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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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