What are differences between Token and Coin?

ozexproject (16)in #cryptocurrency • 6 years ago

Today, most of us are familiar with the concept of the cryptocurrency and the blockchain, but what we are not familiar with is the concept of a token and a coin. What is the main difference between a token and a coin? Why is so good about a token becoming a coin?

The core difference between a Token and a Coin

One unique factor of a coin is that it has a mainnett, which refers to an independent blockchain ecosystem. Each coin has its own mainnet. On the other hand, a token is created from an existing platform rather than an independent mainnet. To manifest, there are a number of tokens based on Ethereum platform. Our OZX token is also based on ERC-20 protocol and it is perfectly compatible with Ethereum platform.

How does a token become a coin?

In order for a token to become a coin, the token must be sold through ICO and the process of launching the mainnet with its own technology. Since this mainnet needs to be backed up with great technological knowledge, time and money, most tokens are first developed based on an existing platform. When the token raises enough funds through ICO, it makes a test net to see how their platform works and then moves on to the mainnet development.

@OZEX

OZEX is in preparation of its MainNet development, ICO advisor platform and a wallet development that will automatically airdrop tokens to holders. Moreover, OZEX provides a transparent marketing procedures and blockchain engineering service, and will work hard to help many outstanding startup businesses.
OZEX ICO will last for more than two months over three rounds, from 20 June to 28 August 2018. We have successfully seen an early ending of the first round in just 25 hours, thanks to people’s active participation.
The 2nd round of OZEX ICO will start on 16 July 2018, and the finalized rate for the 2nd round of ICO is 1 OZX : 0.01 USD. As announced before, the hardcap of the 2nd round is set as 200 million OZX, and the number of free airdrop token KickCoin(KICK) is set as 2 million KICK. We will airdrop KICK at the rate of 100:1 to OZX. During the first 24 hours, participants will receive 100% Bonus in OZX and during the first week, participants will receive 50% Bonus in OZX.