Clarification for Users: Titan is a Coin, not a Token
Ever since the very first cryptocurrency bitcoin was created, people have been constantly confused about the difference between coin and token. While many people regard these two as the same, it is not actually the case.
The existing and potential users of Titan Coin should know that this is a coin and not a token. Titan Coin has its own blockchain and uses the same for facilitating fast and secure cross-border payments involving digital currencies.
In order to understand that better, we will here discuss the main differences between a coin and a token. Let’s get started.
Crypto Coin Vs Crypto Token
The basic thing to know about coin and token is that both of them are cryptocurrencies. Cryptocurrencies are digital currencies which represent the units of value created by blockchain.
As for the differences, here are some:
Crypto coins are digital coins which are created with the primary purpose of acting as a currency or, in other words, means of payment. That said, the main use of a coin is for payments. Tokens, on the other hand, may have a range of functionalities and uses.
A Coin is a native token of the blockchain for which it is created. It means coins are created for specific blockchains. In other words, each coin is associated with a particular blockchain (technology). For example, Titan coin has its own blockchain which is used as a global, transparent network for sending/receiving money.
Tokens, however, are created on other existing blockchains. In most cases, tokens are a customized form of coins.
Coins usually have a value/price in the market and can be used for buying compatible products/services. Tokens may also have value, but they cannot be used as money.
Tokens can be customized to offer a wide range of functionalities. Coins have one major functionality - payments. Besides that, they can also be commonly used for trading of cryptocurrencies.
Titan Coin as a Digital Payment Currency
Titan Coin (TTN) is a coin. It is based on a powerful, new blockchain technology which uses Hybrid PoW/PoS consensus mechanism for adding security and reliability to digital transactions. The main purpose of the Titan Coin (and blockchain) is to be used for sending payments to anyone, anywhere in the world.
Titan Coin is designed in such a way that it can be used for nearly any kind of digital transaction involving money, which means the coin has possible applications in every sector/business where the secure and instant transfer of funds is a major requirement.
The use of Titan Coin, however, is not just limited to the external merchants who may or may not accept this currency for payments. The Titan Coin project involves the development of a number of advanced and highly popular apps where Titan Coin will be the primary means of payment. These include Titan Fantasy Sports Gaming App, Titan Dating Android App, Titan Family Security App, Titan Sales Team Reporting App, etc.
Titan Coin can be purchased, stored and used via dedicated wallet apps for Android, iOS and all other major platforms.
Visit: https://titanprojects.co/ for a complete understanding of the Titan coin (TTN) concept
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