Difference between coin and token
Cryptocurrencies can be roughly divided into two categories: coins and tokens. The difference between them is very simple. Coins have their own blockchain, such as Bitcoin. Ether (ETH) has the Ethereum blockchain. Coins often have a specific utility across their entire network, like paying transaction fees, staking, or participating in governance.
Tokens are built on pre-existing blockchains. They can also have some similar roles as coins, but tokens mainly only have utility in their own projects. An example is PancakeSwap's CAKE on Binance Smart Chain. You can also use them to pay for certain transactions within the PancakeSwap ecosystem, such as minting non-fungible tokens or playing their lottery program. However, CAKE does not have its own blockchain, so it cannot be used in every application on BSC. The same is true for the thousands of ERC-20 tokens issued on the Ethereum blockchain. Each token is part of a specific project with different use cases.
Hope the above information will be useful to you.
