What is the difference between a coin and a token?

Coins and tokens are both exchangeable units of a cryptocurrency. Although the distinction between the two changes depending on who you listen to, one difference is generally agreed upon: a coin has its own blockchain whereas a token can exist on top of another blockchain and isn’t native to its own blockchain. For example, STRAT is the coin native to Stratis. If someone wanted to, they could issue a token using a smart contract and this token would exist on top of the Stratis blockchain.