In this article I will help you distinguish the difference between the two in a much simple way.
First, let’s examine the common term for both which I also knew the reason why you are here. According to Wikipedia, “In computer science, a cryptocurrency, crypto-currency, or crypto is a digital currency that does not rely on any central authority to uphold or maintain it. Instead, transaction and ownership data is stored in a digital ledger using distributed ledger technology, typically a blockchain.“
Both can be used enterchangeably when discussing about cryptocurrency but when it comes to a more technical coversation you must be able to defferentiate the difference between the two.
Let’s start our differentiation using the following question and will discuss further later the answers.
- What do you use to pay for gas fees during your crypto transaction?
- Can you perform a crypto transaction within the network without holding the amount of Coin of that network?
- Can there be a multiple Coin within the network?
- Can there be a multiple Token within the network?
- Which one is defined by smart contract?
- Does Bitcoin have token?
Let’s get one-by-one.
What do you use to pay for gas fees during your crypto transaction? Answer: Coin.
Coin is a native asset of specific blockchain network.