Understanding the most basic component of the cryptocurrency industry is one of the biggest barriers for new users. In recent years, thousands of different cryptocurrencies have been created and there has been a huge investment in blockchain projects.
Now we will help you to understand the difference between coins and tokens.
A coin is a cryptocurrency native to the network, to understand better, the coins are created in decentralized blockchain networks, that one allows developers to create and implement decentralized applications.
From the user’s point of view, let’s think of “the platform” as an application store and “coin” is the payment method.
The “coin” is used to pay for transaction fees on the network and reward miners for their work, without this, miners would have no incentive to contribute with the network.
Now, tokens are cryptocurrencies that are used as your application-specific currency, we interact with stuff like these in everyday life from membership points, poker chips, online games, and others, In other words, tokens are an asset, which has some kind of utility, but it is only useful for the specific application.
In conclusion, the “coin” is the one that can be used for different transactions and operations in its blockchain, and on the other hand, tokens can be used for its specific application environment.
Considering that, what is UCoin?
UCoin is created to work in an ecosystem of business applications to have global circulation and address the holder’s basic daily real-life transaction needs.
UCoin currency is being launched with the pure vision of being available, usable, and valuable to everyone.
UCoin is issued with the support of a global financial services platform focused on the needs and trust of the public.
So, yes, we are a utility token and ensured by the very Ethereum technology we’re built on, joining you in your daily life transaction and allowing you access your money anytime, anywhere, anywhere.
Universal Coin International