BEP-20 is a token
standard on Binance Smart Chain that extends ERC-20, the most common
Ethereum token standard. You can think of it as a blueprint for
tokens that defines how they can be spent, who can spend them, and
other rules for their usage. Due to its similarity to Binance Chain’s
BEP-2 and Ethereum’s ERC-20, it’s compatible with both.
BEP-20
was conceived as a technical specification for Binance Smart Chain,
with the goal of providing a flexible format for developers to launch
a range of different tokens. These could represent anything from
shares in a business to dollars stored in a bank vault (i.e., a
stablecoin).
Of course, one could equally create a native
asset as a BEP-20 token, or even peg tokens from other blockchains to
make them usable on Binance Smart Chain. This is what’s done with
“Peggy” coins, which are essentially BEP-20 versions of other
crypto assets (such as LINK or XRP).
Like BEP-2 tokens on
Binance Chain, BEP-20 token transfers are fuelled with BNB. This
provides an incentive for validators to include the transactions in
the blockchain, as they’ll collect the BNB as a fee for their
troubles.
You may know that Binance Smart Chain was
envisioned as something of an extension to Binance Chain. With dual
chain architecture, both chains are complementary – Binance Smart
Chain caters to decentralized applications without congesting the
original chain, which is optimized for ultra-fast trading.
Because
of this architecture, heavy emphasis was placed on cross-chain
compatibility. For that reason, BEP-2 tokens can be swapped for their
BEP-20 equivalent. The easiest way to do so is perhaps via the
Binance Chain Wallet extension, though more methods will undoubtedly
emerge over time.
For a more detailed look at the BEP-20
standard, be sure to check out the draft proposal on GitHub.
Installing and
setting up MetaMask
MetaMask can be downloaded on Chrome
and Firefox, or on iOS and Android if you’re a mobile user. For the
purposes of this tutorial, we’ll use the Firefox version, but the
instructions will be more or less the same for every
platform.
Firstly, you’ll want to head over to the
MetaMask Download page. From there, select whichever platform you’re
using, and follow the steps to install it on your device.
Easy!
Next, follow along with the setup specified by the
app. Go ahead and click Create a Wallet. Write down the backup seed
phrase somewhere secret (preferably not on an Internet-connected
device). Without this phrase, your funds can’t be recovered if your
device is damaged or lost. Confirm that you’ve written them down on
the next page.
And that’s it! You should now see your
wallet, ready to send and receive funds.
We will create BEP20
Token on Binance Smart Chain Network. You will get BEP20 Token with
source code in separate file with 100% ownership. BEP20 token
supported by trust wallet, metamask, math wallet etc.
What
are BEP20 Tokens?
BEP20 represents a token
standard that is on the Binance Smart Chain 108. BEP20 is similar to
ERC20 11 tokens that are issued and implemented on the Ethereum 11
blockchain. Binance Smart Chain is an Ethereum Virtual
Machine-compatible blockchain, that allows DeFi projects and the
other blockchains to participate in cross-chain interoperability.
You
can check BscScan.com for projects that have already started
utilizing Binance Smart Chain.
Where we can trade
Bep20 Token:
You can start instant trading
on some dex and all cmc supported cex support binance smart chain so
exchange listing not issue.
