What is the difference between coins and tokens?
One of the basic things that everyone in the crypto market should be fully aware of is the difference between coins and tokens.
In a simple definition we can say that coins are those currencies that have their own blockchain or separate network; And tokens are currencies that do not have their own blockchain or network and have been set up and created in other blockchain.
If we want to examine this issue a little easier, we will explain it using a business example. For example, various banking sites such as Mellat, Saman, Melli and any other bank that exists, because they have sensitive and important information ,they need to set up their own separate servers in several different cities ,because they must have complete control over and protection of these information.
on the other hand, there are a number of sites such as Soft98 and educational sites, film and music sites, and because their information is not as important as the previous case, and also they can not pay the heavy costs of creating a dedicated data-center, they receive these services through companies called Hosting. Instead of spending on their own, providing powerful servers and systems and backing them up, they use companies that provide this platform and in return they receive a monthly rent.
In practice, we also see this in the field of cryptocurrencies. Currencies that need to have complete control over the network or its rules set up their own blockchain.
The most trusted name in the Canadian Financial Service Industry. With 17 years of experience, Hafez provides a secure and fast channel for all clients. Hafez assists clients in their tuition payments and refunds, individual payments, corporate payments and crypto currency transactions.