Coin
Cripto nativa de sua própria blockchain, que a rede usa para pagar taxas e recompensar validadores, em contraste com o token, emitido sobre outra rede.
Key points
- A coin is the crypto native to its own blockchain, such as bitcoin on the Bitcoin network or SOL on Solana.
- The network uses the coin to pay transaction fees and, generally, to reward those who validate or mine blocks.
- It differs from a token, which is issued by a project on top of an existing network, without being that network's native currency.
What is a coin?
A coin is a blockchain's own currency, an integral part of the protocol. While a token is created by a project building on top of a third-party network, a coin is issued and controlled by the network itself. It is what pays for the blockchain's operation and is usually at the core of the security mechanism, whether by rewarding miners or being staked by validators.
How it works
The coin arises from the protocol's rules. On proof-of-work networks, new units are issued as a reward to miners; on proof-of-stake networks, validators stake the coin as collateral and receive rewards for operating honestly. In both cases, the coin is tied to the security and economic incentives that keep the network running.
Every operation on the network consumes fees paid in the native coin. This applies both to a simple transfer and to interactions with smart contracts, when the network supports them. That's why even someone who uses the blockchain only to move tokens or stablecoins needs a bit of the native coin to pay for processing.
The distinction between coin and token is useful, but everyday usage doesn't always respect it: in daily life, many people call any crypto a "currency." Technically, however, coins and tokens have different origins.
Why it matters
Understanding the difference between coin and token helps in understanding how a network works and why you need to hold the native coin to operate on it. For a company moving stablecoins on a network, for example, it is that network's coin that pays the fees for each transfer, even if the asset of interest is something else.
Risks and limitations
The line between coin and token is not always clear-cut, and market vocabulary often treats the two interchangeably, which creates confusion. Moreover, being the native coin of a network says nothing about its value or soundness, which depend on adoption, real-world use, and the security of the blockchain in question, factors that have nothing to do with the "coin" label.