# Token - Detailed Explanation of Chinese Meaning
Token is commonly translated into Chinese as "通行證" (pass), "令牌" (token), or "代幣" (token), representing a type of digitized asset with specific rights, credentials, or value form. These assets can be traded, transferred, and exchanged on corresponding blockchains. Unlike Coin, Token does not have its own independent public chain; instead, it is built on top of existing blockchain ecosystems.
After Ethereum launched the ERC-20 token standard in 2015, anyone could issue their own Token on the platform. This innovation significantly lowered the issuance threshold, making Ethereum the public chain with the largest Token issuance volume to date. In simple terms, Token is an umbrella concept that encompasses all non-public-chain-based tokens, including DeFi application tokens, Layer-2 solution tokens, NFT tokens (such as APE, SAND), and more.
The Roots of Coin and Token