● How did the word “Token” came out?
The term “token” was first established from the concept of erc-20, which is the base of Ethereum token, and later on being widely used in other places.
If ERC-20 token was defined as ERC-20 coin, then snt token can also be defined as snt coin.
● What is token?
Before we get to know what token is, let’s start with Ethereum.
Ethereum uses a different coding system from Bitcoin that allows various functions.
The name of this feature is defined as Smart Contract.
By using smart contract to add dapps, industries in different fields such as real estate and sound source are able to expand its business.
Apps that are running on the platforms like Ethereum are called DApps, and stakes that are used on these dapps are called Token.
● Then what is dapps?
DApps are decentralized application. In simple terms, it is the application written with blockchain.
Likewise, Ethereum is able to add dapps with different functions on blockchain through smart contract.
For example, we can consider Ethereum as the operating system of a smartphone (Android or iOS) while the dapps as the applications used on the smartphone.
The difference between dapp and app is that app is managed by the centralized server, so the information will be provided to the users while requesting through apps, which makes personal information less secure.
However, dapp is a blockchain-based app, therefore, the information is highly secured by distributing in different places.
● How do we distinguish between coins and tokens?
The criteria to distinguish between coins and tokens is whether it has an independent chain or not.
If it is based on its own blockchain, it’s coin. On the other hand, if it is based on others’ blockchain, is token.
For instance, there is a department store called Ethereum, and there are two clothing stores called EOS and TRON.
Ethereum currency is used in the Ethereum Department Store. Therefore, in order to purchase products in EOS and TRON, Ethereum currency has to be changed into EOS and TRON currency.
Nevertheless, if the clothing store EOS became really successful and decided to open its own department store, it can also invite other stores to enter their department store.
By the above explanation, we can understand how EOS became a coin from a token.
● Are both UUNIO and UUNIF coins? And how do we use them?
Let’s start from the conclusion! UUNIO is token and UUNIF is coin.
Maybe everyone thought UUNIO is coin, but actually UUNIO is a quantum-based token that can be traded in the exchange.
On the other hand, UUNIF is based on the blockchain developed by our own. UUNIF coins can be used on the dapps such as UUNIO and ReviewRepublic.
UUNIF coins and UUNIO tokens can be exchange through our wallet, Clet.
Clet is a cryptocurrency wallet that is scheduled to be released on June, 2018, which includes many functions such as messenger, communities, money exchanges, advertising, etc.
All the above functions can be used with UUNIO tokens.
UUNIO services and dapps that can be used with UUNIF coin will build a close relationship with Clet once it is released in the near future.
Now, we have looked at the difference between coins and tokens, dapps and apps, and how these information is related to the UUNIO’s ecosystem.
I love to check out famous restaurants that are introduced by my friends or TV programs and leave reviews afterwards.
Although I am posting these because I like to communicate and also to fulfill my personal satisfaction, I hope UUNIO will be released as soon as possible so that other creators like me can get rewards through participating.
I hope I can use the tokens I earn to buy fried chickens 😁
Thank you for reading it.
Learn more about UUNIO and our ICO at the links below.