Have you noticed you say COINS in the place of TOKENS, and TOKENS in place of coins?
No, you won't know the difference except you're told.
And don't be amazed.
Okay, let's go straight to the point.
They are independent and operates on their own network, yea essentially acting as the native currency of that specific network.
Are BITCOIN(BTC)
ETHERUM(ETH)
RIPPLE(XRP)
LITECOIN(LTC)
SOLANA(SOL)
BINANCE SMART CHAIN(BNB/BSC)
They all own their own blockchains.
Meaning, each coin is tied to the functionality and security of it's own blockchain, and serves as a medium of exchange within that system.
Tokens are simply referred to digital assets built on an existing blockchain.
They digitally represent a blockchain or blockchains.
Tokens are commonly built on the ETHERUM, SOLANA and BSC blockchains.
Tokens can be used for various purposes.
Act as currencies for other crypto asset purchases, swappings and so on.
Tokens also grants access to decentralized applications (DAPPS) representing ownership in a project, or providing voting rights.
Grants access to a specific service or platforms.
Represents ownership in a company or assets.
Allows holders to vote on a decision within a project.
Unique digital assets representing real world items like art or collectibles.
So, we now understand that COINS stands for CURRENCIES.
Just as TOKENS are known for DIGITAL ASSETS.
I believe these few detailed information on this topic of mine, has brought about some enlightenment to you.
Okay theΓ±!
SAFE READING BUDDIES!!!
