Difference between COIN, TOKEN and PROTOCOL - Programmer explains

Watch live: ivanontech.com/live

[@JohnDisque]

Thanks for taking the time to educate the new-people, without talking down to them or being condescending. You have fans.

[@PreciousMeddler]

This really helped me understand things. It's the video I've been looking for ever since I first heard about blockchain. Thanks, Ivan.

[@JoshPeterson]

I commented on an older video about your audio quality. This one is much improved. As always, thank you for your vids. This explanation is so good, my friend.

[@aipaperreader]

Great video Ivan !! The best part is the time-length of the video, great to start the day with your video and a cup of coffee!

[@camp4636]

Thank you for sharing! That's very helpful. You clearly identified that coins are the native digital asset over the network, which are defined by the protocol while tokens are higher-level digital assets built on top of that and defined by the smart contracts.

[@bernardmacarius2635]

You definitely have fans! Another informative video, Thank You.

[@eduardogmartins]

Bernard Macarius agreed!

[@bidbuytom]

Ivan, fantastic video. I'll check out the podcast. Thank you.

[@Tortoisetoo]

Thank you for your hard work. You are great in your explanations and patience in covering details for those entering the crypto sphere.

[@tateshepherd523]

Found your channel from Invest Like a Boss, love the channel, thanks Ivan

[@offroadspecialties7383]

I am a fan of you and the energy you put into teaching, Ivan.

[@AdminTechnopedia]

Good explanation video with picture and graphic, but it could be less time under 5 minute

[@joshuasherrard-bewhay3907]

Man this video was a eureka moment for me when everything just clicked together in my head! Great vid, Subscribing now!

[@marcelncollin]

Smashed the like button Ivan, i do like this programer's playlist quite a lot.

[@cityinthesky1341]

Great video, Ivan! Many thanks - from one of your many fans.

[@coldxcalculated9191]

17 minutes and I went from clueless to a general understanding of cryptocurrency.. got yourself a new subscriber

[@big_daddy00]

This is beautifully explained! Thank you, Ivan!!!

[@paulbadea1746]

It's the first of your videos I'm watching and I am definitely a fan.. thanks for the info

[@AlandosAnjos83]

Ivan the Best one and you have fans for sure. Cheers from Brazil!

[@collegeboy909]

I had difficulty understanding the structure and you cleared all of that up I thank you. Liked and subscribed!

[@sandipj96]

nice ivan you gave us a extra ordinary info on crypto. your english word pronunciation is very clear, so we can get it easily. keep it up.. thank you

[@dbpatni]

Very well explained Ivan. Thanks..... Just need further differentiation between token and coin.

[@plagueangel761]

Can you do a video on atomic swaps?

[@codingstrong]

All this is totally clear for me after watching this video. Well done, you are the man.

[@mohanlalchoudhary9018]

Hey Ivan...Thank you so much.....Your video is a very detailed and simple language. The way you explained the protocol is very simple. I got it Man...Thank you for making...❤

[@LadyWisdomSpeaksAcademy]

Thanks for explaining the terms. I learned a lot.

[@brock6560]

I’m a new fan!!!! Thanks for explaining everything so well.

[@AlvinKeungVFX]

Hi Ivan great video. I had a few questions after watching your video. Question.1. How do you know if a crypto is in token form or coin form. How do you know if an ICO has already made the swap or not. Question 2. What happens when you send a Coin to a Myetherwallet that holds ERC20 tokens. example: (You buy Qtum from an exchange which you got was a coin because it has already did the swap. Then you deposit it to your Myetherwallet because you did that before when they were tokens). Question 3. For say you bought tokens from an exchange and you send it off to Myetherwallet and hold it for 1 year. The prices go up and you want to sell it now, except that the token has already turned into a coin. Only you didn't know because you don't follow that crypto new daily. You then send your Token back to the exchange you bought it at to sell. What will happen to the Tokens? Will they actually make it to the Exchange and be auto swapped into coins or are they going to disappear? Thanks for the help.

[@donotwy]

thanks for cool explanations. As I understand, if 'X' coin is added to etherium protocol than it means ethrium protocol is updated. Is it right?

[@samikstream]

Hi Thank you for the Video..I have a query..suppose you have Dapp and there is a usage token to take part in the Dapp. Can I change the Dapp after the token is build?

[@KingsleyUdenewu]

Hi if i want to build a crypto exchange website do i need to connect to the protocols or connect to third party company like binance.

[@TheRollupCo]

Good explanation about the difference between them, very clear and easy

[@lancenolasco1203]

Thank you very much, Ivan!

[@njnow2000]

Very clear and precise, many thanks for the tutorial

[@sonah3259]

Thanks !!! Ur the best 🙂 i havent programmed in a while and want to get back to it. I hope u can provide a high level instruction on how to create smart contracts (high level)

[@alanboss386]

I had no clue about computers and better yet nothing about blockchain and because of your channel I found out that am very good at understanding your explanations. Now am coding and am a crypto trader. Changed my life and am from the hood 954.. thanks man keep doing ya thing my g

[@dantas3353]

Amazing explanations, thank you!

[@eduardogmartins]

Thanx so much buddy! Great video! 👍👍👍

[@chautrongan6183]

Thank Sir, God Bless America and Greece-Roman.

[@artemson6360]

Ivan, ty for u videos

[@raffi3o3]

thanks for your explanation. However I have now a follow up questions, since I actually view Ethereum and Neo as platforms. I come up with this since Origin Trail claims to be a Protocol and TE-Food a platform aiming for a food traceability. What is the difference now between those projects and their goals.

[@domleary]

Another excellent video explaining Blockchain and Cryptocurrencies in an easy to understand fashion. Still I have some questions on Tokens. Take an ERC20 token defined by a Smart Contract on the Ethereum Blockchain. Does this effectively mean that to monetise that token it must first be converted into Ether ?

[@UTUBEME2010]

VERY VALUABLE KNOWLEDGE .. THANKS IVAN

[@_m.a-x]

Ivan: Do we need coins to run distributed applications over the network? Can blockchain-based solutions exist without coins? Is the coin just a driving factor for more people to join in or it has other important roles?

[@jeffstorrs1933]

IVAN! This is another GREAT Presentation you have for us to see! Damm I Admire all of you Young guys and Gals who are aware that cryptos are serious....and you have so much info and wisdom you share..... I got my first ones at 50 cents USD someone stole that tote I had my info in and my computer! TRUST NO ONE! Ivan, here in the USA a lot of ignorant people have no idea that at one time a Bartender in Reno told a Gold Miner from California , who had turned in his gold for FRN's across the country over in Washington D.C. that he was "not going to accept some silly piece of PAPER with NUMBERS on it for Whiskey and a room! "It's Gold or the Road my friend" he said! WELL SOON it is going to be " It's CRYPTO or No Go!" You will HAVE to because the government is going to do what ever it can, illegally of course to TAX us on what IS NOT Theirs to tax us upon! Value for Value is what this CRYPTO Thing comes down to! SIMPLE< most people have no freaking clue as to what you are talking about here UNTIL NOW!!! I want to talk with you. Jeffrey Allen Storrs

[@jjones7837]

Thanks for the info Ivan!

[@TheJOHNNYBTVchannel]

thank you Ivan. from California.

[@aholagunju]

Is it okay to say that smart contracts use coins (Ether) to perform transactions on the blockchain and dApps clients use tokens?

[@KFAu-sr6tq]

Awesome!!!! Thank you Ivan

[@natepolmateer8712]

thanks Ivan! great explanation!

[@irsolutionstech]

I understand that token based on protocols (eth,btc) but then it means tokens will have their own blockchain or how will they store into same eth blockchain ? thank you for the video, very helpful!

[@sandile84]

Awesome video, I learned a lot. You're very gifted in explaining technical things to non technical people. Careful not to say "I know this is confusing to you" too much, people might take offense, or worse, get annoyed, lol. :)

[@matusk3308]

Ivan I'd have a request for you to cover a different but also interesting topic - what do you think would happen, if the current system of power decides to implement pervasive filtering of crypto-related communication? I'm talking filtering on ISP level in EU, USA, etc.. Do you think the crypto world can overcome this as well?

[@JohnSmithULIR0]

So Protocol == Cryptocurrency? If so, do I need to create my own Blockchain to create my protocol, given the information you said, “each protocol has its own Blockchain”?

[@mgennes]

Thanks Ivan, great video :)

[@marcellotthompson8985]

can you please sent the link to that PDF file on video....

[@EtherealInvictus]

Hi Ivan I am interested in SONM I see their repository has some action in September. Would like to get your take on that. Thank you

[@Mikaelaxo1]

Thank you very much. You´ll hear of Information Protocols.

[@Silentman333]

Ivan if you are ever in Orange County you have a place to stay and home made italian food to eat!

[@imdirtydan1493]

Matt Mariner seems like you’re hitting on him

[@soluschristus1689]

says a man who calls himself dirty

[@ocdreio4178]

Hi! Yes, you do have fans! Trust me! ;) You are great! Keep on going!

[@MyBuddyMobile]

Very good explanation 👏🏿 the comparison to torrents was brilliant 💡

[@VectorNewman]

Hey thanks for this cool video, but two questions reman to me: - is it possible to index a token on exchanges the same way as a coin? - is a token owner taking advantage of the coin mining network, let's say by Ethereum miners and have to pay for the transactions fees and mining to Ethereum or its miners? Thanks in advance :-)

[@darkpegasus2154]

cool!! I follow yor chanel from now!! full power guys

[@dabronx340]

Thank you. It was very Informative

[@michaelcornea8841]

Hi Ivan, you are a great guy and I love your knowledge. Just a quick suggestion: could you do a section with condensed video info, so I don't have to waste half the time listening to stuff I don't need. A 'quick and to the point' video is worth tonnes. Kind of like: 1. Blah, blah, blah, 2. Blah, blah, blah and so forth, bullet point focussed info on every topic. I have you on 1.5 speed and it still takes too long ;-). Thanks and keep up the good work.

[@CanesFan65]

You are an excellent teacher.

[@ajmalfahad5856]

Dear Ivan, Kindly make a video on Security tokens.. Polymath/Tzero.

[@StrikerBurns]

Where can I see Tokens trading on exchanges?

[@gray8769]

This is absolutely the best KZbin channel about Crypto!

[@georgeogdon1268]

sorry if you answered this but am i correct in thinking Ripple is a protocol whereas XRP is a token?

[@chitvee]

Hi, could you help me understand how does token economics work? For example, after ICO, who manages the entire operations and how does operational costs, employee salaries an other costs get paid for? Would like a bit of overview on how cash flows of ICO companies would be managed in general? Anyone kindly help me understand or point me to any useful resource for the same.. Thanks!

[@burnone2821]

each company should have a white paper that breaks down expenses, which I'm sure you've probably already discovered by now since this was 3 months ago....

[@carriballa]

Thanks, great explanation.

[@thecryptonetwork2739]

This is exactly what the browser wars was all about when the internet first came up and people started developing websites.

[@pendyaaa]

Hey Ivan, it would be really helpful if you can explain why we need token. The origin story of token and why token is necessary when we already have coins

[@TheCherizard]

tokens are built on top of the existing blockchain , so that you don't need to worry about running your own. this way more people can participate and create different applications. otherwise you will have 1000 of blockchains which would not be as secure as Ethereum or Bitcoin for example.

[@danbeal8895]

Hi Ivan, I have questions regarding how a blockchain can work with real life products (i.e. RFID tags). I am constructing my own application and would love to have a conversation with you to gain further knowledge. Can we open a dialogue? Thanks!

[@isaiah1989911]

What are your thoughts on $Shiba? Tysm for this video

[@xenusonofzarnox]

Thanks, great explanation, however, are tokens mineables?

[@enriqueeee]

So if some Ethereum token increases its price, it should increase the price of ETH too? because they are using ETH behind? and more important, what happens when some token decides to move from their network, right now we have the case of EOS and TRON moving from Ethereum, and some people says that's why ETH is falling so strong, because they are selling a lot of ETH, I'm a bit confused about this, what is the relation between the tokens and ETH?

[@zeleniak_13]

I want to note that the TokenGo project has a convenient and understandable Bounty, as well as a very interesting bonus referral program. The project has good prospects, and now a very favorable price for a token.

[@carlmagnusbroberg5325]

Invest like a boss! Haha bästa namnet!

[@rwstavros]

Protocol layer should be split. Protocol and platform. Unfortunately, there is poor separation between the two leading to “one ring to rule the all”. Ethereum the protocol becomes part of Ethereum the platform which can support multiple coins

[@selfinvestigator8429]

@Ivanontech IOTA does not use Block Chain, it uses the Tangle, there is no block and no chain, when you create a transaction you must verify 2 others, that's all. So there is no need for miners as with blockchain.

[@TourismKomodo]

First I want to thank you for all your videos. I consider myself as a newbie and I have a question about this topic: does every protocol based on blockchain needs a coin? Or can there be blockchain protocol without coins?

[@AnarchistMetalhead]

you could have a blockchain without a currency, but it would then just remain a theoretical solution to the byzantine generals problem, possibly kept running out of academic interest, yet fail to attract the computing power necessary for making proof of work run stable the alternative ways of securing a blockchain, such as proof of stake even more so depend on monetization, as they fall apart when there is nothing to put at stake

[@TourismKomodo]

AnarchistMetalhead thank you for your answer 🙏. At this moment I don’t understand you (yet), but I now will look what the Byzantine generals problem is. Hopefully I will soon understand your answer

[@AnarchistMetalhead]

no worries, it was unknown to everyone except mathematicians before bitcoin, a riddle thought to be unsolvable

[@aholagunju]

@@TourismKomodo I don't know if I am late to the party r not, What AnarchistMetalhead is trying to say is that It is the coin that makes the blockchain sustainable because that is the incentive. That is the reward you get for validating transactions and mining new blocks on the chain.

[@juanj2116]

Hi Ivan. BTC has token. There is a network called RSK, that adds a sidecar to BTC allowing to have smart contract over BTC ( rBTC that is a BTC over RSK). There is a nice ecosystem called Money on Chain, that even has a stable coin(DoC Dollar on Chain) and a BTCx2 leveraged position. Check RSK and Money-on-chian. Cheers. Great channel

[@m.schaudhry4196]

Excellent explanation.Thanks

[@ivalex13]

THX for this video man.

[@nimasala8764]

thanks for the video, BUT could u please short and surmised the topic and just go directly to the topic, delete those branch and just focus on it , you doing great. good luck.

[@lilycohen2306]

Blockgrain company shares is going to be taken by the Cargill , american based company , is it worth to invest in it , please help me

[@HardDie]

Who can change the Protocols?

[@coinbrahma7967]

Do you mean Bitconnect Token is Based on Bitcoin Protocol?

[@franklin_sainthex289]

You def have fans

[@RunyCalmera]

Very clear.

[@miyardnegril]

Can you do a video on zethr (gambling powered -dividend pyramid)

[@bregjejabra25]

I was planning to buy some EOS, after I bought 1 BC and some ETH. Way too complicated and user unfriendly to me. EOS cannot become populair later on if you ask me.

[@aliyadasgupta3306]

You are amazing! super well-explained and you have a great voice too ;) definitely have a fan here! I have a question, regarding the difference between protocol tokens and dApp tokens. What makes these tokens different? is work token another term for a protocol token and utility another term for dApp? would be super helpful if you could help me figure out the difference :) Thanks!

[@DewaldVDB]

thank you.. just one thing.. bitcoin also has smart contracts 😉

[@MrWolfen76]

another good one. just for the protocol....TenX has its own protocol (COMIT) and it`s coming in 2018

[@sb1835]

Thank you

[@kendoiron5690]

very helpful. thank you

[@bedanawi]

Excellent video