What are Coin and Token

Coin

Coins are any cryptocurrency that has a standalone independent blockchain and share the same characteristic as the conventional currency. In other words, coin is the native token issued by a project team that has its own public chain. For instance, Bitcoin(BTC) is the native token on BTC chain, Ether on ETH network, and Bitcoin Cash (BCH) on BCH chain.

 

Token

Tokens function as “utility” tokens within a project's ecosystem. These projects live on another blockchain and have their own DApps or smart contracts. Simply put, tokens are created by platforms and applications built on top of an existing blockchain. For example, USDT is a popular token on BTC chain, and DAI is one of the tokens on ETH network.