Demystified: The Difference Between Crypto Coins And Crypto Tokens. Read Here For Details – Outlook India

According to industry experts, all coins are considered tokens, but all tokens are not considered as coins in the crypto industry
Malayalam cinema’s recent flowering has fortuitously coincided with the rise of OTT platforms, exposing new audiences to their cutting edge offerings
The South Indian cinema ecosystem is taking on interesting subjects and putting them out in new, creative ways. Is this making Bollywood feel insecure?
Pushpa’s chin-wipe has cast a spell across the world, as Tamil, Telugu, Kannada and Malayalam films sweep aside Bollywood’s carefully manicured reputations, budgets and delusions of invincibility
In Hindi cinema alone, we discovered a new, talented crop of filmmakers who created such lovely pieces of content like web series ‘Gullak’, ‘The Scam’, ‘Paatal Lok’, and even movies like ‘Sharmaji Nakeem’ and ‘Kaun Pravin Tambe?’, writes Shujaat Saudagar
Giridhar Jha speaks to S.S. Rajamouli, the 48-year-old director with the Midas touch, who has taken the box office by storm with his Telugu-Tamil bilingual, Baahubali: The Beginning (2015), its sequel Baahubali: The Con­clusion (2017), and more recently RRR (2022).
Updated: 21 May 2022 8:02 am
The increased digitisation and technology has led to both the emergence and popularity of crypto, and there have been quite a few takers of this.
But, if you have noticed closely, cryptos aren’t exactly homogenous. We refer to them both as coins as well as tokens. For that matter, many don’t even know whether they are buying crypto tokens or crypto coins. Are they both the same? No. They are different and have different functions, too. Let’s find out more about them in detail.
Differences Between Crypto Coin and Token 
The crypto industry has said that the key distinction between coins and tokens is that crypto coins are the native asset of a Blockchain like Bitcoin or Ethereum, whereas crypto tokens are created by platforms and applications that are built on top of an existing Blockchain. 
“A Blockchain can only have one native asset (coin), whereas it can have hundreds of tokens built on top of it. While ETH is the cryptocurrency native to the Ethereum Blockchain, there are many other different tokens that also utilise the Ethereum Blockchain. Crypto tokens built on top of Ethereum include MATIC, LINK, andUSDT, among others,” says Vikram Subburaj, CEO, Giottus Crypto Platform.
Typically, coins are used for governance, transactional fees and other related use cases. Experts say that they are the infrastructure and the backbone of the Blockchain. Tokens can represent a myriad of real-world use cases, including gaming, Stablecoins, NFTs, and other fees.
That said, crypto coins have higher intrinsic value as they form the foundation of the Blockchain.
“Imagine a future where only 5-10 Blockchains are relevant, and all crypto tokens (1,000s) are distributed between them. Coins associated with such Blockchains have more probability of success compared to other tokens,” says Subburaj.
Elsewhere, a coin is native to its Blockchain. It uses its own Blockchain and keeps track of the data, store value, validates transactions and keeps the Blockchain secure. 
“When you create a token, you don’t have to create a Blockchain and write the entire code and worry about how transactions would be validated; instead, you just create a token and it runs on someone else’s Blockchain. This means you don’t have to keep improving the entire system, updating how it works, and patching vulnerabilities – your team can solely focus on providing a great project,” says Rajagopal Menon, vice president at WazirX.
In addition, the token team can rely on the coin’s network to provide safety and stability for the network.
Utkarsh Sinha, managing director of Bexley Advisors, a boutique investment bank firm believes that we are in the pre-dot-com era for Blockchain. “If you look back at the frenzy of the pre-dotcom bust, a lot of highly touted and highly funded ideas completely fizzled out,” he says. 
 
Subscribe to get complete access to Outlook Print and Digital Magazines, Web Exclusive stories and the Archive. Attractive gifts with each subscription.
© 2022 Outlook Digital

source