WHAT ARE THE DIFFERENCES BETWEEN CRYPTOCURRENCIES AND TOKENSπ±π€π±π€...?
A cryptocurrency, like Dogecoin, is just an encrypted digital currency intended to be used as a form of payment.
So, a cryptocurrency is a unit of value that operates on its own blockchain. It is, therefore, independent of any other platform.
A cryptocurrency can be used to store value and pay for services, in the same way that you would use physical money.
On the other hand, tokens, such as AYRA are used to represent digital assets that are fungible and negotiable, including from merchandise, voting rights, or future projects.
However, instead of operating on its own blockchain, the tokens are hosted by another platform, such as Ethereum.
While tokens are also a medium of exchange, they offer superior functionality to cryptocurrencies.
The tokens give their holders the possibility to participate in some type of activity or project.
That is why we decided that AYRA is a token.
So that you better understand the concept, we give you an example:
"Imagine that you want to earn rewards for lending your cryptocurrencies or requesting a loan. For this you can use the native token of the Compound network."
But the functionality of a token is not only there. Tokens can also offer value to buyers, for example through buybacks.
As you can see, the possibilities of a token are endless.
Think big. Join the AYRA project.