They're all called “coins,” but some are native to their own blockchains, while others run on different chains.
Here’s how I understand it: native coins are recorded and issued directly by the consensus rules, while token balances are recorded in the corresponding smart contracts. The issuance rules depend on how the contract is written.
The same token is often issued on several different chains, and the contract address is different on each chain.
My habit now is to check the contract address through official channels before accepting a token. Tokens with the same name and ticker aren’t necessarily the same token.
$ETH is Ethereum’s native coin, and token transfers on Ethereum also require $ETH to pay gas fees.
#ETH
When markets are highly volatile, manage your risk first.
Here’s how I understand it: native coins are recorded and issued directly by the consensus rules, while token balances are recorded in the corresponding smart contracts. The issuance rules depend on how the contract is written.
The same token is often issued on several different chains, and the contract address is different on each chain.
My habit now is to check the contract address through official channels before accepting a token. Tokens with the same name and ticker aren’t necessarily the same token.
$ETH is Ethereum’s native coin, and token transfers on Ethereum also require $ETH to pay gas fees.
#ETH
When markets are highly volatile, manage your risk first.