Difference Between CRYPTOCURRENCY and CRYPTOASSET
There are two types of digital coin: a CRYPTOCURRENCY and a CRYPTOASSET. A cryptocurrency is the digital monetary system that fuels a blockchain platform. On the other hand, a cryptoasset is simply a digital token built on top an existing blockchain which is fueled by the cryptocurrency innate to that blockchain.
The best way to describe the difference is by means of an example.
Let's take for example Ethereum platform, and just like Bitcoin, and others like Waves, Ripple, and so on, these are what we call cryptocurrencies having their own blockchain.
Now in the case of Ethereum and Waves, you can actually create a token, specify how many tokens you want to create and if they are fixed or not in supply, by paying a small amount of fee in ETH or WAVES coins. Then viola, you now have a cryptoasset in less than 10 minutes. Sending tokens between wallets is charged a minimal fee in form of the cryptocurrency fueling your tokens (as in the case of Waves, when you create a token on top of Waves and send tokens between users, you have to pay the transaction fees in Waves coin).
Now ask yourself, which coin do you think will have more value in the market: a cryptocurrency with own blockchain and with so much efforts poured into developing it, or a cryptoasset which costs less than $10 and can be created in less than 10 minutes?
Now in order to prove a blockchain of a cryptocurrency exists, one needs a public block explorer. So without further ado, please welcome Indigen's own block explorer, with the Genesis Block shown on this photo. Years from now, we will all be looking at this historic image and say to ourselves, we were there when Indigen started.
Learn more about the Indigen cryptocurrency project at www.indigen.co to get FREE coins during our airdrop by end of December.
valuable article thanks for sharing
You are welcome bro. Thanks for the upvote.
Thanks for sharing this info.
Congratulations @larrimar! You have completed the following achievement on Steemit and have been rewarded with new badge(s) :
Click on the badge to view your Board of Honor.
If you no longer want to receive notifications, reply to this comment with the word
STOPCongratulations @larrimar! You received a personal award!
You can view your badges on your Steem Board and compare to others on the Steem Ranking
Do not miss the last post from @steemitboard:
Vote for @Steemitboard as a witness to get one more award and increased upvotes!