What is the difference between a token and a coin?

A coin and a token are both types of cryptocurrencies, but they have some differences in how they are created and used.

A coin is a cryptocurrency that has its own blockchain, which is a network of computers that store and validate transactions. A coin can operate independently and does not need another platform to run. Some examples of coins are Bitcoin, Ethereum, and Litecoin. You can use coins to buy and sell goods and services, or store them as a form of value.

A token is a cryptocurrency that is created on top of an existing blockchain, which means it uses another platform to run. A token can have various purposes and functions, such as representing a share of ownership, a digital asset, a reward, or a utility. Some examples of tokens are Basic Attention Token, CryptoKitties, and Uniswap. You can use tokens to access and use different applications, platforms, or services, or trade them for other tokens or coins.

To summarize, a coin is a native currency of a blockchain, while a token is a digital unit that is built on another blockchain. I hope this helps you understand the difference between a coin and a token.