What is the difference between a Crypto Currency Coin and a Crypto Token
What is the difference between a Crypto Currency Coin and a Crypto Token The main difference between a cryptocurrency coin and a token is how they are built and used: 1. Cryptocurrency Coin Has its own blockchain: Coins operate on their own independent blockchain (e.g., Bitcoin runs on the Bitcoin blockchain, and Ethereum runs on the Ethereum blockchain). Used for transactions: Coins are primarily used as a form of digital currency (e.g., Bitcoin (BTC) is used for payments and as a store of value). Examples: Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB - now on BNB Chain), Solana (SOL). 2. Cryptocurrency Token Built on an existing blockchain : Tokens are created on top of an existing blockchain, like Ethereum, Solana, or Binance Smart Chain, using smart contracts. Used for various purposes : tokens can represent assets (like stablecoins or NFTs), be used in DeFi applications, or grant governance rights in DAOs. 3. Examples: Utility Tokens : Chainlink (LINK), Uniswap (UNI) Stableco...