More Examples
“There are 21 million coins in the Bitcoin network.”
“Someone told me about a hot new coin but I’m sticking with BTC.”
“How many coins did the shitcoin devs burn this time?”
Definition(s) from the Web
- Bitcoins are issued to various nodes that verify transactions through computing power; it is established that there will be a limited and scheduled release of no more than BTC 21 million worth of coins, which will be fully issued by the year 2140. Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services. As of February 2015, over 100,000 merchants and vendors accepted bitcoins as payment. Research produced by the University of Cambridge estimates that in 2017, there were 2.9 to 5.8 million unique users using a cryptocurrency wallet, most of them using Bitcoin. Source
- Coin is a cryptocurrency with its own blockchain, usually created by developers from scratch or by forking. You can also find the term “altcoin”, which implies an alternative coin, that is any coin that is not Bitcoin. Bitcoin is the best example of a coin. Bitcoin is not only the world’s first cryptocurrency but also the world’s first blockchain. Since the launch of Bitcoin in 2009, many new blockchains have appeared. The Bitcoin code is open source software, so a number of projects launched completely new blockchains, simply by changing a few technical components of the bitcoin code. Most often, new projects improve scalability, block size, or other technical components. For example, Litecoin appeared this way. Source
- A blockchain account can provide functions other than making payments, for example in decentralized applications or smart contracts. In this case, the units or coins are sometimes referred to as crypto tokens (or cryptotokens). Cryptocurrencies are generally generated by their own blockchain like Bitcoin and Litecoin whereas tokens are usually issued within a smart contract running on top of a blockchain such as Ethereum. Source
