理解加密硬币与令牌的最终指南

人们像一样，将这些术语抛在周围，但是他们的出生方式，工作方式以及他们对建立，投资或仅使用它们的任何人意味着什么都不会有所不同。

To really get a grip on digital assets, you’ve got to tell apart its main players: coins and tokens. People throw these terms around like they’re the same, but how they’re born, how they work, and what they mean for anyone building, investing, or just using them couldn’t be more different.

要真正了解数字资产，您必须分开其主要参与者：硬币和代币。人们像一样，将这些术语抛在周围，但是他们的出生方式，工作方式以及他们对建立，投资或仅使用它们的任何人意味着什么都不会有所不同。

Spotting the Key Difference: Coins vs. Tokens

发现关键区别：硬币与令牌

Think of a crypto coin, or what many call a cryptocurrency, as the home-grown currency of its very own, standalone blockchain. Bitcoin (BTC) operates on the Bitcoin blockchain, and Ether (ETH) is native to Ethereum’s; these are classic examples. These aren’t just digital assets; they’re the fundamental building blocks of the networks they belong to.

将加密硬币（或许多人称为加密货币）视为其自己的独立区块链的本土货币。比特币（BTC）在比特币区块链上运行，Ether（Eth）原产于以太坊的。这些是经典的例子。这些不仅仅是数字资产；它们是他们所属网络的基本构建块。

Tokens, on the other hand, are more like digital applications built to run on blockchains that already exist. You’ll find them on platforms like Ethereum (which is famous for ERC-20 tokens), BNB Smart Chain (with its BEP-20 tokens), or Solana. Instead of constructing their own foundational layer, tokens lean on the security and operational framework of their host blockchain.

另一方面，令牌更像是在已经存在的区块链上构建的数字应用程序。您会在以太坊（以ERC-20代币闻名），BNB智能链（带有BEP-20令牌）或Solana等平台上找到它们。代币与其构建自己的基础层，不如靠其主机区块链的安全性和操作框架。

Route One: Crafting Your Own Crypto Coin (and its Native Blockchain)

第一公路：制作自己的加密硬币（及其本地区块链）

If you’re dreaming of creating a coin, you’re signing up to either build a whole new blockchain from scratch or to take an existing one and fork it—both paths are serious undertakings, heavy on technical skill and resources.

如果您梦想创建硬币，那么您将签署以从头开始建立一个全新的区块链，或者拿起现有的区块链并分叉 - 两者都是认真的工作，掌握了技术技能和资源。

The Nitty-Gritty of Building:

建筑物的秘密：

What This Means for Your Strategy:

这对您的策略意味着什么：

Route Two: Designing a Token on an Existing Blockchain

第二公路：在现有区块链上设计一个令牌

Creating a token is often the more straightforward option, as you get to use the rails of blockchains that are already well-established.

创建令牌通常是更简单的选择，因为您可以使用已经建立良好的区块链的导轨。

The Nitty-Gritty of Token Making:

代币制作的秘密：

What This Means for Your Strategy:

这对您的策略意味着什么：

When you look at what’s under the hood, a coin runs on its own custom-made blockchain, completely independent. Tokens, however, are crafted using smart contracts that live on someone else’s blockchain. This difference naturally makes building a coin a much tougher job, demanding you figure out the whole blockchain structure and how everyone agrees on transactions.

当您查看引擎盖下的内容时，硬币会以自己的定制区块链完全独立。但是，代币是使用在别人的区块链上使用的智能合约制成的。这种差异自然会使建造硬币成为更艰巨的工作，要求您找出整个区块链结构以及每个人如何同意交易。

Tokens are simpler; you’re mostly just getting a smart contract up and running. Consequently, getting a coin off the ground will hit your calendar harder and hit your wallet harder than launching a token. If you go the coin route, you call all the shots on how it works, its features, and even how money flows. With a token, you play by the rules and limitations of the blockchain it’s built on.

令牌更简单；您大多只是获得智能合同并运行。因此，将硬币从地面上拿走会更难击中您的日历，并且比启动令牌更难击中您的钱包。如果您走硬币路线，您将拨打有关其工作方式，其功能甚至金钱流动方式的所有照片。借助令牌，您可以按照其构建的区块链的规则和局限性进行播放。

Securing a coin means you’re on the hook for protecting the entire network. Token creators get to piggyback on the security already proven by the host blockchain. You’ve seen coins like Bitcoin (BTC), Ether (ETH), and Cardano (ADA) out in the wild. For tokens, think of things like USDT (an ERC-20), SHIB (another ERC-20), or CAKE (a BEP-20).

确保硬币意味着您可以保护整个网络。代币的创建者可以掌握主机区块链已经证明的安全性。您已经在野外看到了像比特币（BTC），Ether（Eth）和Cardano（Ada）之类的硬币。对于代币，请考虑使用USDT（ERC-20），Shib（另一个ERC-20）或Cake（BEP-20）之类的东西。

Key Things to Nail Before Launching Your Crypto Asset

在推出加密资产之前要钉上钉子的关键因素

First off, before you even think about launching a new crypto asset, ask yourself: what makes it special? In a field packed with options, your coin or token needs a truly unique reason to exist. What knotty problem does it untangle that others don’t? If it doesn’t have a solid use in the real world, it’s likely to just become another speculative blip, not something people will actually use and value long-term. Many crypto ventures fizzle out precisely because they skip this crucial step; some studies even show that more than half the cryptocurrencies born since 2021 are already dead and buried.

首先，在您甚至考虑推出新的加密资产之前，请问自己：什么使它特别？在包含选项的领域中，您的硬币或代币需要一个真正独特的存在理由。别人没有的问题是什么打结的问题？如果它在现实世界中没有可靠的用途，那么它可能只是成为另一个投机性的碎片，而不是人们实际使用并重视长期的东西。许多加密货币冒险的原因恰恰是因为他们跳过了这一关键步骤。一些研究甚至表明，自2021年以来出生的加密货币一半以上已经死亡和埋葬。

Then, you absolutely must get the economics—the tokenomics—right from the start, as this is the heart of your project.

然后，您绝对必须从一开始就得到经济学 - 代币学 - 这是您项目的核心。

Your development choices and security measures are next on the critical list.

您的开发选择和安全措施是关键列表中的下一个。

Be realistic about the price tag for creation and launch. You’ll need to set aside money for the actual development (anywhere from $5,000 to well over $100,000), those crucial security audits, getting legal advice ($10,000 to $50,000 or more isn’t uncommon), spreading the word through marketing ($10,000 to $50,000+), and maybe even fees to get listed on exchanges (these can vary wildly, from a few thousand dollars to over a million for the biggest centralized exchanges). If you go for a decentralized exchange (DEX), you’ll have costs tied to providing liquidity.

对创建和发射的价格标签保持现实。您需要为实际发展（从$ 5,000到100,000美元以上）预留资金，这些关键的安全审计，获得法律建议（10,000美元至50,000美元或更高的$ 50,000或更多），并不罕见），通过营销来传播这个词（10,000至50,000美元+$ 50,000+），甚至可能会在交流中获得列出的费用（这些可能会在交流中列出（这些都可以从数以千计的范围内差异化，而是一百万美元的一百万美元。如果您去分散交易所（DEX），您将需要与提供流动性相关的费用。

Don’t underestimate the maze of rules and legal stuff you’ll need to get through. This includes AML/KYC (anti-money laundering/know your customer) rules like the FATF Travel Rule, laws about whether your asset is a security (like the Howey

不要低估您需要通过的规则和法律内容的迷宫。这包括AML/KYC（反洗钱/了解您的客户）规则，例如FATF旅行规则，有关您的资产是否是安全的法律（例如Howey