user313: According to the docs, ADA is an asset and a token, but they also indicate that tokens are on-chain versions of some off-chain asset. They also compare ADA and tokens in ways to imply that they are not the same kind of thing.
So, what is it? what is it called?

user4023: The terms cryptocurrency, token and asset are not mutually exclusive.
However, there are specific definitions that show a subtle difference between these three terms:
Cryptocurrency

Cryptocurrency is a digital asset that circulates on the internet as a medium of exchange. It employs blockchain technology — a distributed ledger of transactions that is publicly available — and is secured by advanced cryptography. This revolutionary asset architecture allows for certainty that cryptocurrency coins and tokens cannot be double-spent even in the absence of a centralized intermediary. The first cryptocurrency to achieve mainstream success was Bitcoin which paved the way for the proliferation of many other cryptocurrencies.

Token

Within the context of blockchain technology, a token generally refers to a unit of value for a programmable asset that is managed by a smart contract and an underlying distributed ledger. Tokens are the primary means of transferring and storing value on a blockchain network [...]. Tokens can also be designed to be either fungible or non-fungible, depending on a network's specific needs. And while many tokens are primarily used for simple transactions, an increasing number of blockchain projects are designing tokens encoded with a variety of wide-ranging use cases, primarily in regards to on-chain governance and network maintenance.

Asset

An asset is anything of monetary value that can be owned or purchased. Within the context of investing, assets can refer to a variety of financial and physical instruments, from stocks to real estate to gold to dollars. A bitcoin is a particular form of crypto or digital asset.


313: <p>According to the docs, ADA is an asset <em>and</em> a token, but they also indicate that tokens are on-chain versions of some off-chain asset. They also compare ADA and tokens in ways to imply that they are not the same kind of thing.</p>
<p>So, what is it? what is it called?</p>
 4023: <p>The terms <em><strong>cryptocurrency</strong></em>, <em><strong>token</strong></em> and <em><strong>asset</strong></em> are not mutually exclusive.</p>
<p>However, there are <a href="https://www.gemini.com/cryptopedia/glossary" rel="nofollow noreferrer">specific definitions</a> that show a subtle difference between these three terms:</p>
<h2>Cryptocurrency</h2>
<blockquote>
<p><em><strong>Cryptocurrency</strong></em> is a digital asset that circulates on the internet as a medium of exchange. It employs blockchain technology — a distributed ledger of transactions that is publicly available — and is secured by advanced cryptography. This revolutionary asset architecture allows for certainty that cryptocurrency coins and tokens cannot be double-spent even in the absence of a centralized intermediary. The first cryptocurrency to achieve mainstream success was Bitcoin which paved the way for the proliferation of many other cryptocurrencies.</p>
</blockquote>
<h2>Token</h2>
<blockquote>
<p>Within the context of blockchain technology, a <em><strong>token</strong></em> generally refers to a unit of value for a programmable asset that is managed by a smart contract and an underlying distributed ledger. Tokens are the primary means of transferring and storing value on a blockchain network [...]. Tokens can also be designed to be either fungible or non-fungible, depending on a network's specific needs. And while many tokens are primarily used for simple transactions, an increasing number of blockchain projects are designing tokens encoded with a variety of wide-ranging use cases, primarily in regards to on-chain governance and network maintenance.</p>
</blockquote>
<h2>Asset</h2>
<blockquote>
<p>An <em><strong>asset</strong></em> is anything of monetary value that can be owned or purchased. Within the context of investing, assets can refer to a variety of financial and physical instruments, from stocks to real estate to gold to dollars. A bitcoin is a particular form of crypto or digital asset.</p>
</blockquote>
