In recent days, creating a crypto token has become a valuable component of any blockchain-based system, dApp, platform, or economy. Many crypto Token standards are available in the crypto market, But BEP 20 Token standard is popping out with huge demand.
What is BEP 20 Token?
BEP-20 is the token standard of the Binance Smart Chain (BSC). BEP20 is the BSC’s version of ERC20. BEP20 & ERC20 Token have similar functionalities, But the difference is that ERC20 is the token standard of Ethereum Blockchain & BEP20 is the token standard of the Binance smart chain. The Transaction speed of BEP20 is much faster when compared to ERC20. Some Of the popular BEP tokens are CAKE, BUSD, SAFEMOON, WBNB, ALPHA, BURGER, BUX
Advantages of BEP20 Token:
• BEP-20 tokens are compatible with both BEP-2 and BEP-20 platforms
• These are backed by BNB.
• It supports the function of tokens built using the BEP-20 standard to be used within the BSC network.
• It can be swapped with BEP-2, which is a native token of Binance Chain
• Many wallets support BEP-20 tokens
• Tokens from other blockchains can be pegged on the BEP-20 token. These are known as Peggy coins.
After knowing about the advantages of the BEP20 token, You will get a query like “How to create a BEP20 Token?” Let us discuss the 5 simple steps for creating your Own BEP20 Token.
5 Simple Steps To Create Your Own BEP 20 Token