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Difference between COIN, TOKEN and PROTOCOL - Programmer explains

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Token, Coin, Protocol and Blockchain are words we all hear now and then. It's easy to confuse the concepts, let's talk about the difference! Thanks for watching guys 💝 🍻 Join the crypto discussion forum - https://thecrypto.pub 📺 The best crypto content in one place - https://cryptochannel.tv 📚 Get my free e-book on Bitcoin and Blockchain - http://eepurl.com/c0hyc9 you will receive the book in your inbox once you sign up 👫👭👬Social: Steemit: https://steemit.com/@ivanli Facebook: http://facebook.com/ivanontech/ Slack: http://slack-invite-ivan-on-tech.herokuapp.com Exclusive email list: http://eepurl.com/c0hyc9 🤑 Buy cryptocurrencies: https://www.coinbase.com/join/529bab0ab08ded7080000019 💰 Secure your Crypto with Hardware Wallets: Ledger: https://www.ledgerwallet.com/r/4607 Trezor: https://trezor.io/?a=rvj3rqtje3ph
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Text Comments (245)
Ivan on Tech (1 year ago)
Thanks for watching guys 💝 🍻 Join the crypto discussion forum - https://thecrypto.pub 📺 The best crypto content in one place - https://cryptochannel.tv 📚 Get my free e-book on Bitcoin and Blockchain - http://eepurl.com/c0hyc9 you will receive the book in your inbox once you sign up 👫👭👬Social: Steemit: https://steemit.com/@ivanli Facebook: http://facebook.com/ivanontech/ Slack: http://slack-invite-ivan-on-tech.herokuapp.com Exclusive email list: http://eepurl.com/c0hyc9 🤑 Buy cryptocurrencies: https://www.coinbase.com/join/529bab0ab08ded7080000019 💰 Secure your Crypto with Hardware Wallets: Ledger: https://www.ledgerwallet.com/r/4607 Trezor: https://trezor.io/?a=rvj3rqtje3ph
Nick Thompson (7 months ago)
Very informative as always Ivan, where does DAG fit in with this? Travel Flex is a coin based on DAG saying they can achieve 1400 transactions a second and increases with more users, like IOTA and Z Cash I've heard. Does DAG mean bugs can be paused and fixed, maybe like EOS. So what's DAG and how does that fit in differently from others? Maybe could you review Travel Flex system about claiming to be the fastest above all others. If it's so fast, why don't many others go for DAG, Cheers mate
Opoku Adu-Gyamfi (7 months ago)
can you explain the difference between an algorithm and a protocol?
linus skogh (8 months ago)
Ivan on Tech Are you from Sweden?
LUCIfER Fireneze (27 days ago)
Ivan, I am building a new token platform. Where are you located?
Delroy Johnson (1 month ago)
Can you do a video on zethr (gambling powered -dividend pyramid)
paul tucker (2 months ago)
absolutely awful teaching - he obviously gave this lecture no thought whatsoever
Surajdon Surajdonn (2 months ago)
My pass rp h sell cl me 6351627581
PreciousMeddler (2 months ago)
This really helped me understand things. It's the video I've been looking for ever since I first heard about blockchain. Thanks, Ivan.
Herve Veve (2 months ago)
Good video. However not enough precise regarding token. Indeed why use a token if you run a dapp on a specific blockchain let s say ethereum for instance ?
Michael Brown (2 months ago)
This could have been done in a 1 or 2 page PowerPoint, and explained at a high level in less than 3 minutes. My bitch is all the fluff around the discussion. I like your show none the less.
I Am Intractable (2 months ago)
I think something is missing from this explanation. Protocol and coin need to be separated to better understand that the protocol is moving information in the form of a coin (if I am understanding this correctly). Similar to how TCP-IP moves packets of data around.
Zivana Vasiljevic (3 months ago)
Did you mean protocol is like waiter, in real world, somebody come and make his order and than waiter goes to kitchen, give them the order, and than take this and bring that order to the people who is order that, or like ham between bread and cheese in sendwich...? :)
Stuart Young (3 months ago)
Long winded and confusing - didn't tell me anything.
lance nolasco (3 months ago)
Thank you very much, Ivan!
Enrique Piatti (3 months ago)
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?
Lily Cohen (3 months ago)
Blockgrain company shares is going to be taken by the Cargill , american based company , is it worth to invest in it , please help me
96 Kilobytes (4 months ago)
The document title is Untitled. And it has been edited.
Harry Briggs (4 months ago)
As my modest experience shows, this is one of the best exchanges. The platform in HitBTC is fast, it works very fast, that is especially important for short-term trading. The commission is minimal, and pleases the speed of transactions in the withdrawal.
Liang Qiao (4 months ago)
'coin is defined by the protocol [eg. Ether], while token is defined by smart contract at a higher level...'
Aleksandr Goldberg (4 months ago)
Friends, pay attention, on the Internet today all the benefits of TokenGo are visible. Be sure to think about buying tokens. TokenGo is unique in its own way! And not only people began to be interested in buying TokenGo Tokens, but other projects and portals began to support this project.
Gray (4 months ago)
This is absolutely the best YouTube channel about Crypto!
Іван Зеленяк (4 months ago)
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.
Crypto Naepalm (4 months ago)
thanks Ivan! great explanation!
neveddmeg (5 months ago)
2 minutes and still nothing
Dhari Alajmi (5 months ago)
Can you get into the point already?
MarceL ... (5 months ago)
Smashed the like button Ivan, i do like this programer's playlist quite a lot.
عجائب الصين (5 months ago)
you are the most handsome youtuberrrrrr
Ketty Winslet (5 months ago)
Thinking of investing in GIG9. It seems like a lucrative deal plus after doing some research, it sounds like a very logical thing to do as well.
clinton (5 months ago)
Informative video! Get paid for being a project creator in cash LEDU coin in liveEdu
Joker Poker (5 months ago)
bagariddum (6 months ago)
it's always a good day when i learn/clarify something. thanks for this concise explanation of how this tech is currently layered.
1000 inone (6 months ago)
dont understand token at all?
Thanks for explaining the terms. I learned a lot.
B Rock (6 months ago)
I’m a new fan!!!! Thanks for explaining everything so well.
jawshua100 (6 months ago)
Thk q very interesting
Ajmal Fahad (6 months ago)
Dear Ivan, Kindly make a video on Security tokens.. Polymath/Tzero.
Cleiton Dantas (6 months ago)
Amazing explanations, thank you!
Eduardo Martins (7 months ago)
Thanx so much buddy! Great video! 👍👍👍
Johanna Maaghul (7 months ago)
Bitcoin is not really a protocol
carls apartments (7 months ago)
Ivan, I wish i could say I understand it now but I don't really. I did learn that each protocol builds it's own blockchain and I didn't know that before. I did learn that ETH and BTC are their own blockchain PROTOCOLS and i didn't know that before. I did learn that many different TOKENS can be built on a PROTOCOL or some protocols But everyone is talking about crypto protocols and tokens like it's MONEY and it's not, I think, or is it, what the hell is it... I still don't really get what a token is? What's it for? I know very little and I know lots of people investing that know a lot less than me!
Ken Doiron (7 months ago)
very helpful. thank you
raffi3o3 (7 months ago)
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.
Sravan kumar Ganji (7 months ago)
IOTA is for internet of things .
Jake Tatton (7 months ago)
4 minutes in and hasn't explained a fucking thingggggggggg. holy shitttttttt
Alvin Keung (7 months ago)
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.
Jorge Alejandro Guerrero (7 months ago)
Thanks, great explanation, however, are tokens mineables?
ibrahim bapir (7 months ago)
gutes informationen ! BTC = GW9gyi8R7h2MJzVmjHUAadhTNTyWYjCDTn LTC = LTyYrGCYTVKMnZYFxAWPVuNhmmaBdNo27z
Suho Park (7 months ago)
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?
Zex Alex (7 months ago)
Sorry but you have to give examples of usage of a coin and a token. Without that, this explanation is crap. We already know that a the Ether coin supports the Etherium protocol. How? What for? And TenX has a smart contract that implies tokens. What are these for? Why do they need to exist if we already have Ethers? You talked talked and talked and in the end no one knows the REAL difference between ethers and TenX tokens. Thanks.
MrHanSoL0 (3 months ago)
Anything in Ethereum uses Scrypt algorithm for encryption. Bitcoin uses SHA256, and other coins in the public ledger use other hashed algorithms. If you're not sure about encryption then I suggest you learn about them, these Crypto networks are down to the protocol and is the reason why it will eliminate centralized servers going down in our current networks, Web apps, programs and OS platforms.
ariukz (4 months ago)
True. Wish someone can give an example here
Aliya Das Gupta (7 months ago)
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!
Crypto Choww (7 months ago)
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!
George Ogdon (7 months ago)
sorry if you answered this but am i correct in thinking Ripple is a protocol whereas XRP is a token?
Pablo Pan (7 months ago)
Ivan on tech....the superstar on blockchain technology!!!!
Jeff Storrs (7 months ago)
IVAN READ MY PRIOR Comment dammit! LOL soon I hope? :-)
Jeff Storrs (7 months ago)
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
Katol (7 months ago)
Thanks bro newbie here :-)
Lou (7 months ago)
Excellent video
Alan Boss (7 months ago)
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
Sundar M (8 months ago)
Good day programmer 💻. Here in this video you have mentioned that IOTA planning to built smart contract functionality into their blockchain. I have doubt that IOTA use Blockchain or Tangle? Please advise me
Sundar M (6 months ago)
Laluna270 thanks for advice 😉
Laluna270 (6 months ago)
sundar m IOTA uses Tangel.
Adrian A (8 months ago)
Hey guys, nice video. p.s. guys. just kiddin
monika Verma (8 months ago)
Ricona easy to understand the concepts.
SHAMIT VERMA (8 months ago)
Ricona gives best scheme .
Alexander Veem (8 months ago)
Michael Cornea (8 months ago)
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.
OcdreiO (8 months ago)
Hi! Yes, you do have fans! Trust me! ;) You are great! Keep on going!
Reto Stiffler (8 months ago)
The penny coin mania of 2 weeks ago reminds me of the biotech bubble in 1999-2000. Then, I just bought biotech stocks that had not yet exploded, without even knowing what they do. In hindsight I realized that I invested in a funeral home that just took over the shell of a Biotech company :-). Nonetheless it doubled before going to zero. Think crypto today is more like 1999-2000 than 1995-1997. And I will bottom fish the google, facebook and amazon of the crypto world in a few quarters.
simon lindsey (8 months ago)
stash pay new privacy coin is out on etherdelta and index 10,000 is a node
Deepak Patni (8 months ago)
Very well explained Ivan. Thanks..... Just need further differentiation between token and coin.
vadim s (8 months ago)
No one on YouTube explane stuff about crypto better then you.
off road specialties (8 months ago)
I am a fan of you and the energy you put into teaching, Ivan.
LDBronx (8 months ago)
Thank you. It was very Informative
Chau Trong An (8 months ago)
Thank Sir, God Bless America and Greece-Roman.
Dominic Leary (8 months ago)
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 ?
Saffron Maverick (8 months ago)
You are awesome
Paul Badea (8 months ago)
It's the first of your videos I'm watching and I am definitely a fan.. thanks for the info
carel de jager (8 months ago)
I love your channel. But you take too long to get to the point. It took you 4 minutes and 30 seconds to start talking about the topic of this video. And from the entire 16 minutes, you probably spoke about the topic for a total of 3 minutes. Bit irritating. But otherwise good work
IQ encodoc (8 months ago)
Almost as irritating and people whining about videos being too long.
All this is totally clear for me after watching this video. Well done, you are the man.
Zayn Malik (8 months ago)
ruafotocoletivo rua (8 months ago)
Are you Russian? Great vid!
crypto king (8 months ago)
a protocol is a recipe for getting things done.
Sasha Farah (8 months ago)
Thank you
jjj333 (8 months ago)
Too much self advertising at the beginning...so I lost interest and moved onto next video.
K.F Au (8 months ago)
Awesome!!!! Thank you Ivan
Andrew Rico (8 months ago)
are those common rules the algorithms itself?
pocker91 (8 months ago)
thanks for the video! Feedback : you wasted 25% of the time of the video reading the mail from the user :)
Carl Magnus Broberg (8 months ago)
Invest like a boss! Haha bästa namnet!
Namida July (8 months ago)
bullshit. don't waste your 16 minutes
eric simmons (8 months ago)
17 minutes and I went from clueless to a general understanding of cryptocurrency.. got yourself a new subscriber
Suresh Singh (8 months ago)
Thanks bro
Francesca Lucchini (8 months ago)
Bittorrent doesn't have a blockchain...
I'm Dirty Dan (7 months ago)
Eat Shiit ... awkward
Eat Shiit (7 months ago)
you are cute
GemYellow (8 months ago)
he didn't say it has. He's just giving the very basic example of 'protocol'
Nemo Sala (8 months ago)
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.
Viking- -Crypto (9 months ago)
Eth has 2 protocols may and may be more to come btw. It is token protocols, but still protocol
Jalo 84 (9 months ago)
kannst du mal bitte ein Video machen über Kryptowährung und die Versteuerung? Ich glaube in diesem ganzen Hype geht das Thema völlig unter oder wird bewußt verdrängt! Wie verhält sich das denn wenn man Bitcoin kauft, der Kurs steigt und dann wird davon irgendwas gekauft bzw. bezahlt. (Irgendwann vielleicht bei Amazon? ) Wie verhält es sich wenn ich Bitcoin kaufe und davon IOTA kaufe. IOTA dann 1 Jahr im Wallet halte und dann um es in Euro umzuwechseln erst wieder in Bitcoin wechseln muss um es dann in € auscashen zu lassen. Wäre das denn dann steuerfrei ? da 1 Jahr gehalten ? Wie soll das steuerlich beim ständigen traden funktionieren ? Das kann man doch nicht alles fein säuberlich aufschreiben? Das wäre doch warnsinning viel Arbeit und unüberschaubar wenn man ständig unterschiedliche Währungen gegeneinander tauscht !! Wie beweist man denn wann man was für wieviel gekauft hat ? Habe gelesen man müsste sich eine Liste anlegen und alles aufschreiben. Aber da kann man doch alles reinschreiben?? Müsste man nicht handfeste Belege für alles haben ? Gruß
Eng . Thales Dias (9 months ago)
A good investment would be in the token of YOYOW (YYW), it is a decentralization platform of systems like Facebook, wathsaap, youtube, the biggest companies in the world. The difference is that instead of profiting the company, who profits is the user. It already has 3 platforms in China with high access, different from Cardano that is still a project.
M.S Chaudhry (9 months ago)
Excellent explanation.Thanks
Mason The DJ (9 months ago)
So when people buy Ethereum on Coinbase, they’re not buying a coin but they’re buying into the protocol?
Mason The DJ (8 months ago)
MrWhymedude Oh okay. So Ether is basically the most popular coin on the Ethereum protocol?
MrWhymedude (8 months ago)
You're buying Ether (Coin) that is used on the protocol (ethereum)
Kaloyan Ivanov (9 months ago)
A crypto company - Cointed - which is also having its ICO currently up and running, prior to publicly stating its partnership with TAS, announced that they are having a crypto-debit card give away!
IR Solutions (9 months ago)
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!
John Smith (9 months ago)
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”?
Kershaw (9 months ago)
If you have some noob friends entering to cryptospace please show this video for them before they buy/start trading anything
Mikael Lakso (9 months ago)
Thank you very much. You´ll hear of Information Protocols.
Jorn Verschoor (9 months ago)
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.

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