Commoninfo:coin

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Coin

Coin is a cryptographic monetary instrument. It is she who is considered a full-fledged cryptocurrency. It is used as digital money with the possibility of purchasing goods and services, as well as other payments between users. Technically, such a cryptocurrency necessarily has its own blockchain.

Value

Like any other currency or unit of account, a "coin" has value only because people consider it significant as a unit of exchange and are ready to exchange it for a wide range of other coins, currencies, goods and services everywhere and unhindered.

For example, if you have dollars with you, a person will be able to buy something with them on the open market in any country or change it to the domestic currency of any country without any problems. Currencies like the ruble and the hryvnia cannot provide such advantages — they can only be exchanged at established exchange offices, if there are any in this country. It will be very difficult or impossible to buy something on the open international market for a ruble or hryvnia. It is fair to compare state currencies on the scale of the global economy rather with tokens or internal points of a commercial organization. While on the scale of a single state, the state currency is fair to compare with the coin.

Using cryptocurrency coins as a unit of exchange in the modern world is becoming more convenient and reliable.

History

The concept of "'coin'" has come into use and acquired the meaning that it has now, after the publication of the BTC "White Paper". And with the beginning of the growth of the ICO (Initial Coin Offering) market, the word "coin" has become firmly entrenched in the turnover of the crypto community and beyond.

The difference between a token and a coin

It is quite difficult to separate the concepts of "token" and "coin", since they have a similar purpose, but there are still differences.

The main difference is that a token, unlike a coin and any independent cryptocurrency, does not have its own blockchain.

In fact, the token uses the infrastructure and network scale of the blockchain on which it operates, and the coin is the main currency of the network. For example, in the Decimal network, the base coin is DEL, and custom coins are tokens. In the Ethereum network, ETH will be a coin, and all smart contracts on the main network will be tokens.

DecimalChain

DecimalChain has the ability to use both coins and tokens, but the main advantage of the Decimal network is that it is easy to use.

For example, in the Ethereum network, you need to take into account a number of parameters, such as Gas and Gwei, plus you must have ETH on your balance even to send tokens. Waves, NEO, NXT networks have a similar device. To create your own token or smart contract in these networks, you need to have special technical knowledge and resources.

In DecimalChain to send any token or DEL coin, you can use any network token as a commission without introducing any additional parameters other than the wallet address. Creating your token on the Decimal network will take no more than three minutes and does not require technical training.