Cryptocurrency Classification

Proof Point

Cryptocoins are currencies built on top of dedicated platforms, while tokens rely on already established blockchain ecosystems

Proof Point Findings

Cryptocurrency – Digital or virtual currency that uses cryptography to regulate generation and verify transfer, independent from any central bank
Cryptocoins – Native currencies that operate on their own blockchain platforms (e.g. Bitcoin, Ethereum, Ripple, Litecoin, Monero, and Dash)
Cryptotokens – Representation of an asset or utility built using an existing blockchain, generated through standard template or smart contract (e.g. EOS, Tron and VeChain on Ethereum blockchain, Tether on Omni, and Ontology on NEO)

Accelerator	Web3 Ecosystems, Tokens and Consensus Mechanisms
Market Disruption	New Payment Technologies
Source	"Coins, tokens & altcoins: What's the difference?," Master The Crypto, https://masterthecrypto.com/; "The Basics: Coin vs Token. What is the difference?," Citowise, https://blog.citowise.com/; "Top 100 Cryptocurrencies By Market Capitalization," Coinmarketcap.com, https://coinmarketcap.com/; AcceleratingBiz analysis
Date Last Updated	June 29, 2018

Related Proof Points

Global Companies’ Top Barriers to Blockchain Adoption

April 2, 2019

Online Payment Methods Used By Global Consumers

March 27, 2019

Companies Hiring Staff with Blockchain Experience in Selected Countries

March 26, 2019

Expected Company Adoption of Technologies by 2022

March 18, 2019

Global Executives’ Perception of Most Advanced Industry in Developing Blockchain

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Related Briefings

Indian consulting firm InfoSys launched three blockchain distributed applications for government services, insurance and supply chain management

December 23, 2019

Europe’s central banks proposed central bank digital currency (CBDC) that will allow for private transactions while complying with anti-money laundering (AML) checks

December 19, 2019

Italy announced plan for country’s digital growth by 2025, through digitization of services, supporting innovation, as well as inclusive development

December 18, 2019

Stablecoin protocol Terra launched payments service in Mongolian messaging app memeChat, enabling users to pay merchants, drivers and peers with stablecoins

December 16, 2019

London-based Nickel Asset Management raised $50 million for first U.K.-approved crypto arbitrage hedge fund

October 17, 2019

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