Coins vs Tokens | Ivan Liljeqvist Explains
Welcome to this blockchain educational video by Ivan Liljeqvist. In this video you will learn what coins and tokens are.
A digital coin is an asset that is native to its own blockchain. For example the blockchain Bitcoin has its own coin called ‘Bitcoin’. The Ethereum blockchain also has its own coin called ‘Ether’. Ethereum is a blockchain that allows for ‘smart contracts’ to be implemented. Through smart contracts you can program a set of rules which outline the functions of a ‘token’. Tokens are thus built on a specific blockchain and get paired to the native ‘coin’ of that blockchain.
Both ‘coins and tokens’ only exist in digital form. When one person sends ‘coins or tokens’ to another person’s public address, the database will adjust and the new ‘address’ is given control/ownership of the ‘coins or tokens’.
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