The majority of the people in the field of crypto industry are confused upon different coins and protocol tokens. If you are hunting this problem, then go ahead and read this article to find out the difference between Appcoins and protocol tokens.
Difference Between Appcoins And Protocol Token
The Appcoins are similar to protocol tokens but they are different as well. Without these two things, your system will not work properly or as per your intention. This article highlights the definition of Appcoins, protocol tokens, and the difference between the two.
What are Appcoins?
Appcoin is a cryptocurrency that brings blockchain technology in app-purchasing, user acquisition, and developers’ approval. It is an additional payment method used by users in those app stores that support the Appcoins protocol. By using app coins, the end-users are able to:
By clicking on the ad, and installing apps, users can earn coins to spend inside the apps and games. This also provides a power to make in-app purchases.
Transfer to others
A peer to peer transfer can be easily done by using Appcoins. If the receiver doesn’t have a credit card, they will be able to get access to an Appcoin token.
Use same coins across multiple apps stores
Users can use app coins across all the app stores that support it. This makes the processes and the whole things a bit easier.
What are the Protocol Tokens?
Protocols are some set of rules or guidelines for communicating data. Rules are defined for each step and process during communication between two or more computers. The communicating networks should follow these rules to successfully transmit data. A cryptographic protocol is designed to allow secure communication under a given set of circumstances.
The way of working of a blockchain is determined by protocols. Crypto protocols allow the functioning of crypto applications only. This is the main difference between internet protocols and cryptocurrency protocols. The internet protocols allow one to many applications to run and cryptocurrency protocols allow one to a few applications.
Thus crypto protocols are known as fat protocols and internet protocols are known as thin protocols. Examples of protocol tokens are Ethereum, NEO, Qtum, Lisk, Loopring, Filecoin, Cardano, etc.
Appcoins and Protocol Tokens
They are two entirely different classes of digital assets but might be used simultaneously. The protocol tokens provide financial motivation to drive a crypto-economic protocol. They are not used by consumers. Without protocol tokens, the whole system would not work as per your intention. This isn’t the case with Appcoins. When you are dealing with Appcoins, you have likely purchased it with real money.
Cryptocurrencies are going to become one of the most important and common modern technology. So you will be going to hear more about Appcoins and protocol tokens in your future. When coming to the end of this article, we hope that our beloved readers got the right pieces of information from here. Feel free to comment on your queries regarding this article.