The terms “token” and “coin” are often mistakenly used as synonyms. However, there
are distinct differences between the two.
COIN
A coin is a unit of an independent cryptocurrency that always runs on its own
blockchain. The best-known examples are Bitcoin, Ethereum and Ripple. They all
have their own blockchain and operate independently of other platforms. Coins are
used as an independent means of payment and can be mined in the proof-of-stake or
proof-of-work process.
ALTCOINS
Altcoins were created using the original source code derived from the Bitcoin
blockchain. This means that Dogecoin and Litecoin each has its own blockchain, but
it’s derived and modified from the original Bitcoin blockchain.
TOKEN
Tokens, unlike coins, cannot exist without a preceding cryptocurrency. A token is
also a currency, works within an existing platform/blockchain and, in fact, performs a
much broader range of tasks and can serve the following functions:
– a currency used as a means of payment between participants
– a digital asset or right
– a stock/share in startup
– a fee for using the system
Most tokens are ERC20 tokens and run on the ETH blockchain. ERC20 tokens can
be denominated and are fungible, i.e., exchangeable.
ERC20 is the technical standard for smart contracts used to implement tokens on the
Ethereum blockchain. The ERC20 standard forms the basis of every fully functional
ERC20 smart contract, which is mandatory when creating a token. A smart contract
can issue tokens and constantly monitor their supply, circulation and balance. Smart
contracts are intelligent contracts built in the form of a protocol on a blockchain, such
as Ethereum, that automate contractual clauses between two or more parties. They
are self-executable, immutable and created in a programming language. The terms
underlying the contract are predetermined by the creator. All the functions and
contractual components of the token are defined and stored here.
THE AVINOC TOKEN
The AVINOC token is an ERC-20 token currently running on the ETH blockchain. It
was launched in 2017 with a fixed quantity of 1,000,000,000. Currently, you can buy
and sell AVINOC token on the following exchanges: Latoken, BKex and Cointiger.
The contract address is:
0xf1ca9cb74685755965c7458528a36934df52a3ef
ZENIQ SMARTCHAIN
In the first quarter of 2023, the AVINOC token will migrate to Zeniq smartchain, and
you will be able to trade the token on the ETH blockchain on regular terms or on
Zeniq smartchain. Learn more about why AVINOC is migrating to Zeniq smartchain
and what benefits you’ll get from it HERE .
SWAPPING ON UNISWAP
If you want to trade on a dezentralized platform like Uniswap, connect your MetaMask wallet to the exchange and start swapping. By the way, you can generate additional commissions and income by
acting as a liquidity provider on Uniswap. All transactions on Uniswap are based on
the ETH blockchain, so you would have to pay fees in ETH.
You can find detailed instructions on how to trade on Uniswap HERE.