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A coin is a digital currency with its own blockchain, like Bitcoin or Ethereum, used for transactions and store of value. A token, on the other hand, is built on an existing blockchain (e.g., ERC-20 tokens on Ethereum) and serves various purposes like
utility, governance, or security. Coins operate independently, while tokens rely on smart contracts and existing networks. Coins are mainly used for payments, whereas tokens can represent assets, rights, or services.
Understanding the difference is crucial for investors and developers in the crypto space. Need expert blockchain solutions at Dev Technosys offers top-notch cryptocurrency development services.
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