What is the difference between coins & tokens?
There is a lot of misconception regarding the difference between coins and tokens. So let us get it straight.
Coins are the native elements of a cryptocurrency, and they are used to store data and secure transactions on a blockchain network. On the other hand, companies can create tokens to use as a transactional currency and function on any coin.
For instance, ETH is the native coin for the Ethereum blockchain, and any token like USDT, stablecoins, and others can function on the Ethereum blockchain. It helps save blockchain maintenance costs, and companies are required to update their coins as per the blockchain updates.
