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Token

By CoinGecko | Updated on Mar 03, 2020
Tokens and coins are often erroneously regarded as interchangable terms. However, while both tokens and coins share technical similarity, tokens are ussually built atop a smart contract platform and is issued en-masse during its inception. Tokens grants its holders the right to take part in the issuing parties' network or product.

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Related Terms

Daily Active Addresses (DAA)
On a blockchain, users interact with one another through their addresses, and daily active addresses (DAA) refers to the number of addresses which fulfills the defined activity parameter on a given blockchain.
Utility Token
cryptocurrency tokens with specific utilities on a network besides being used as medium of exchange and investment vehicle.
Off-chain
It refers to transactions occuring outside the blockchain and executed instantly.
Mt. Gox
Mtgox or Mt. Gox was one of the first websites where users could take part in fiat-to-bitcoin exchange (and vice versa).
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