The cryptocurrency world was born with the advent of blockchain technology. The first cryptocurrency and the first blockchain, Bitcoin (BTC), went live in 2009. Many other cryptocurrencies followed suit. Thus, cryptocurrencies were also divided into two types: Coin and token.
What is Coin?
Coin refers to cryptocurrencies created for use on an independent blockchain. In other words, coins are cryptocurrencies that run on their own blockchain. Before creating a coin, it is necessary to create the blockchain on which it will work. Cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Ripple (XRP) run on their own blockchains; So these are coins.
What is Altcoin?
The concept of altcoin is one of the most spoken concepts in the cryptocurrency world. Altcoin, which means alternative coin, is a broad term that covers all cryptocurrencies created after the first cryptocurrency, Bitcoin (BTC).
Ethereum (ETH) is the most well-known and popular altcoin. Other altcoins were later created on the Ethereum blockchain.
Most Popular Coins
In the cryptocurrency world, coins compete with each other for speed and efficiency. The two most popular and valuable cryptocurrencies are Bitcoin (BTC) and Ethereum (ETH) coins.
Solana (SOL) is another coin that stands out for its speed and scalability. Ripple (XRP), on the other hand, is distinguished from others by operating on a central blockchain. XRP coin, which has been hurting with legal problems lately, is still among the most popular and most valuable cryptocurrencies.
What is the Difference Between Coins and Tokens?
While cryptocurrencies created on an existing blockchain such as Token Ethereum and Solana are called, in order to create a coin, it is necessary to create a blockchain specific to that coin from scratch. So a coin runs on its own blockchain.
Unlike tokens, coins do not represent a utility or any other asset as with NFTs. Also, creating coins is much more difficult and costly than creating a token, as it requires creating a blockchain from scratch.
Most Popular Coins
There are many popular coins as well as many tokens in the cryptocurrency industry. The most popular coins include Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Ripple (XRP), Avalanche (AVAX).
Bitcoin (BTC), the most popular coin, was also the first cryptocurrency. With Bitcoin, created by Sathoshi Nakamoto in 2008, users can make decentralized peer-to-peer money transfers.
Considered the largest altcoin, Ethereum (ETH) is a blockchain designed to allow the creation of smart contracts, new tokens and decentralized applications. ETH coin, on the other hand, leads the way with BTC among the most popular coins.
Solana (SOL) is a blockchain that stands out with its speed and scalability solutions and is an alternative to Ethereum. SOL coin is among the most popular coins of the last period.
Just like Bitcoin, the Ripple (XRP) network, which allows peer-to-peer payments and money transfers, has an important difference from Bitcoin: Ripple is not decentralized, but centralized. XRP coin is Ripple’s native cryptocurrency. Although its value has decreased as a result of the SEC lawsuit, the XRP coin is still among the promising coins.
Avalanche (AVAX) is a platform that aims to simultaneously solve the issue of scalability, security and decentralization, known as the blockchain trilemma. The AVAX coin, which is used to pay transaction fees in the network, is among the most valuable coins.