What is a token? How does it differ from a cryptocurrency?

A token is a digital asset based on the blockchain, although it is unrelated to how the blockchain works. It varies from a cryptocurrency in this regard. The process of creating a cryptocurrency, such as Bitcoin, the cryptocurrency of the Bitcoin blockchain, or Ether on Ethereum, is incorporated into the process of continuing its original blockchain. Tokens sit on top: they're actually a type of smart contract that sends credit/debit instructions to the blockchain.
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