Coin vs Token!?

Coin/Token — has their own blockchain.

So if you think of a shelf of books, you’ll have bitcoin, ethereum, ripple as the title. And you will have to abide to their rules set in these books. It’s their own language.

Token is a smart contract written under the predefined rules by the languages you choose to use. There are coins that offer you the option to write a contract with their language such as Ethereum, but Bitcoin and Ripple doesn’t.

Basically, a contract is exactly the same as the contract we see in our daily lives.

On a mobile contract, you and the mobile contract will define

1. basic information
2. rules that both of you have to abide to
3. consequences if you don’t

Unlike normal contract with you have it on paper, you can save it on a blockchain which the majority have accepted and saved it down on their database.