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Difference Between Coin And Token
While many people use the phrases ‘crypto coin’ and ‘crypto token’ interchangeably, they’re not the same thing. There are some significant differences between a coin and a token.
Coins: A crypto coin is a form of digital currency that’s often native to its blockchain, it stores value and acts as a medium of exchange. Coins can be minded through proof of work or earned through proof of stake. Examples include Bitcoin, Ether, and Cardano.
Tokens: A token is built for a decentralized project on an existing blockchain. A token represents an asset or offers holders certain platform-specific features. Token offers functions, including utility, security, and governance. Examples include Cronos, Very Simple Finance, And Uniswap.