BEP20 TOKEN DEVELOPMENT IN BINANCE SMART CHAIN

[John_Walder]

It was in 2020 September when Binance Smart Chain was launched parallel to Binance Chain. Since then, Binance has emerged as a powerful network in the Blockchain space. Binance Smart Chain is an Ethereum compatible blockchain that has low transaction costs. The BSC has BEP20 as its standard.

What is BEP20?
BEP20 is the token standard for Binance Smart Chain. Using this token standard, the BEP20 tokens are developed over the BSC. This token standard is similar to ERC20 as well as BEP2. BEP2 is the token standard for Binance Chain. Since both Binance Chain and Binance smart chain are running parallelly, these tokens are swappable.

Why should you develop a BEP20 token?
BEP20 tokens have created a trend in the blockchain space. It has a high demand for its high transaction fees at a surprisingly low cost. Apart from this, they have a bundle of features that could benefit the users.
Swappable
BEP20 tokens are similar to BEP2. Also, the Binance Smart Chain runs parallel to Binance Chain. So it will be easy to swap among these two.
Pegged Tokens
Any blockchain token that is not BEP20 standard can be pegged into BEP20 tokens.
Develop Huge Amount of Tokens
BEP20 helps in developing a huge amount of tokens in a short period to provide the finest business results.

Features Of BEP20 That Could Benefit The Users
PoA
Proof of Authority is a consensus mechanism that helps in reducing the transaction cost. This is how Binance Smart Chain provides the same transaction speed as Ethereum but at a low cost.
Mintable BEP20
Minting of the BEP20 token can be added as a feature while creating the BEP20 token so that the new tokens can be minted anytime.
Migrating
This feature helps in migrating the BEP20 token from one blockchain to another.
Smart Contract Code Compilation
The process of BEP20 token development involves Smart contract deployment. When the smart contract is developed, it improves the security of the token.

Who can create a BEP20 token?
If you are looking for crowdfunding to develop your business then you can invest in BEP20 tokens. Business-specific ICO-based BEP20 tokens can be created to make crowdfunding more effective.

How to Create a BEP20 token?
Since the launch of Binance Smart Chain, there are a lot of companies that provide BEP20 token development services. You can contact them and inquire about the additional insights you need to know about the BEP20 token.

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