A token is a digital asset that appears on its own blockchain. It can be bought, sold and traded like fiat currencies, and can represent either digital or physical assets. Token can also be used to interact with a dApp, which makes life for gamers, shoppers and the whole Web3 world more convenient due to their utility. The term coin is usually used to describe an asset on its own native blockchain e.g. BTC is used and Bitcoin and ETH is used on Ethereum. A token on the other hand usually refers to an asset that can reside on another chain e.g. there are thousands of tokens on the Ethereum chain.
“@zedrun is about to launch their own token which their racing ecosystem will run on.”« Dictionary Menu