Difference between revisions of "Coin"

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[[File:Bitcoin.jpg|thumb]]
 
[[File:Bitcoin.jpg|thumb]]
  
Coin is a basic unit of the cryptocurrency asset balance. Like ordinary money coin can be transferred or sold for another currency or used as a means of exchange for goods or services.
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'''Coin''' is a basic unit of the [[cryptocurrency]] asset balance. Like ordinary money coin can be transferred or sold for another currency or used as a means of exchange for goods or services.
  
 
==Value==
 
==Value==
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==Minter==
 
==Minter==
Blockchain Minter has a number of significant differences in economics, ease and possibilities of use for coins and tokens. For example, in Etherium 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 for sending tokens. Waves, NEO, NXT networks have similar structure. In Minter, to send any token or BIP coin you can use any coin of the network, without introducing any additional parameters other than a wallet. The availability of official applications, such as IOS wallet, from the network start, simplifies the exchange of goods and services through BIP coin use.
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[[Blockchain]] [[Minter]] has a number of significant differences in economics, ease and possibilities of use for [[Custom coin|coins]] and tokens. For example, in Etherium 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 for sending tokens. Waves, NEO, NXT networks have similar structure.  
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In Minter, to send any token or [[BIP]] coin you can use any coin of the network, without introducing any additional parameters other than a wallet. The availability of official applications, such as IOS wallet, from the network start, simplifies the exchange of goods and services through BIP coin use.
  
 
[[Category:Terms]]
 
[[Category:Terms]]
 
[[Category:General information]]
 
[[Category:General information]]

Latest revision as of 14:30, 10 October 2019

Bitcoin.jpg

Coin is a basic unit of the cryptocurrency asset balance. Like ordinary money coin can be transferred or sold for another currency or used as a means of exchange for goods or services.

Value

Like any other currency or unit of account, coin has value only because people believe it has a value as a unit of exchange.

For example people used to fiat money as a unit of exchange. Therefore a person can be in any country in the world and have dollars with him. He can buy something on them on the open market or without any problems exchange for domestic currency. Currencies similar to ruble and hryvnya are unlikely to provide you such advantages. One can exchange them using only established exchange points (if they will be available in this country at all). Buying something on the open market can be very difficult or impossible.

Using cryptocurrency coins as a unit of exchange in today's world is becoming more and more convenient and reliable.

History

The notion of Coin has become commonplace and has acquired a current meaning after publication of BitCoin white paper.This concept has developed considerably since the beginning of the ICO (Inicial Coin Offering) market growth. Over time, BTC in the crypto community became known as a "grandfather of cryptocurrencies", yet the rest coins were called "altcoins".

Difference between Token and Coin

It is difficult to distinguish the concepts of "token" and "coins" as they have similar semantics and purpose, but still there are differences.

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

In fact, the token utilizes the infrastructure and scale of the blockchain network, in which it operates.Coin from another hand is the main currency of the network.

For example, in Etherium network, ETH is a coin, and all main network smart contracts, corresponding to network's format are tokens.

Minter

Blockchain Minter has a number of significant differences in economics, ease and possibilities of use for coins and tokens. For example, in Etherium 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 for sending tokens. Waves, NEO, NXT networks have similar structure.

In Minter, to send any token or BIP coin you can use any coin of the network, without introducing any additional parameters other than a wallet. The availability of official applications, such as IOS wallet, from the network start, simplifies the exchange of goods and services through BIP coin use.