What’s the Difference between a Token and a Coin?
The two differ in the way they are created. Coins, such as Bitcoin and Ether, have their own blockchains (even if this blockchain is the fork of the first cryptocurrency; think of Litecoin). Tokens don’t have their own blockchain or wallet. They are created on the basis of the platforms that already exist—for example, Waves or Ethereum. Accordingly, coins can be mined, while tokens can’t.
The two differ in the way they are created. Coins, such as Bitcoin and Ether, have their own blockchains (even if this blockchain is the fork of the first cryptocurrency; think of Litecoin). Tokens don’t have their own blockchain or wallet. They are created on the basis of the platforms that already exist—for example, Waves or Ethereum. Accordingly, coins can be mined, while tokens can’t.