Could someone please explain to me what is the difference between an Altcoin and a Token.
I'm a newbie, so please don't mind me asking.
I took part in some airdrop recently and now I was told that it is a token and not a coin. What does that mean ? What can I do with it ?
Can I trade tokens ?
What's the point of having tokens ?
I'm a newbie, so please don't mind me asking.
I took part in some airdrop recently and now I was told that it is a token and not a coin. What does that mean ? What can I do with it ?
Can I trade tokens ?
What's the point of having tokens ?
I thinks its funny to find out that you are a member rank but you don't know the differences between altcoin and token. The main differences of them are
their structure which is altcoins was separate currency with their own separate blockchain. And tokens on the top that has services to the creation of decentralized application.
Yes. You can trade them exactly the same way as you would trade normal altcoins. They don't operate any differently then "normal" altcoins, other then that they might be merge mined etc.
For Ethereum issued tokens you can use a site such as https://etherdelta.com/, which lists 100s of tokens.
If it doesn't has the token you're looking for, you should just use https://coinmarketcap.com/tokens/ and see where the token is traded most frequently. so for GAS/(Tether) etc you can use something like https://www.binance.com/
Tokens are part of the ethereum network but Altcoins have their own blockchain.
Not true. Altcoins issued based/on the ethereum blockchain are ethereum-issued tokens, but tokens in general aren't/don't have to be related to the ethereum network/blockchain to be called a token...