Post
Topic
Board Beginners & Help
Re: What is a token?
by
xenon131
on 11/04/2021, 06:28:56 UTC
. What the heck is a token? Is that just another word for coin?

Token is the essence which is able to represent some stuff.  In my view any  coin is a token but not vice versa. BTC, as a token which delivers the prize  to miners, is used as currency outside mining scheme, so it  represents currency. That is why it can be  regarded as a coin. On the other hand BAT,  as a token,  rewards Brave users who  "enable privacy-respecting ads" but it doesn't represent currency  outside environment of this browser, therefore it is not coin but utility token.