What it does
BEP-20 defines the rules and specifications for creating tokens that can operate on the BSC. It ensures that tokens can be used, stored, and transferred seamlessly on the BSC.
How it works
BEP-20 tokens represent a variety of crypto assets that don't have their own blockchain. To receive a BEP-20 token, you send it to your Binance Smart Chain address. The receive address starts with "0x..." and has the same format as an ETH address.
Compatibility
BEP-20 tokens are designed to be compatible with the ERC-20 standard on Ethereum. This allows for a smooth transition of projects and assets between the two blockchains.
How to use it
To send BEP-20 tokens, you need to use BNB as the network fee. This is because the contract requires a fraction of BNB to execute the transfer.
Product Description
BEP-20 is a token standard on BNB Chain. BEP-20 tokens are similar to Ethereum's ERC-20 tokens but designed to work seamlessly within the BSC ecosystem. BEP-20 wallets are specialized tools that store and manage BEP-20 tokens securely.
Binance Smart Chain
(BSC) is a blockchain network built for running smart contract-based applications. BSC runs in parallel with Binance's native Binance Chain (BC), which allows users to get the best of both worlds: the high transaction capacity of BC and the smart contract functionality of BSC.
Proof of Staked Authority (PoSA)
BSC uses a modified version of Proof of Stake (PoS), called PoSA, to validate blocks. Participants stake the native token (BNB) to become validators and receive transaction fees in return.
Fast Transactions
BSC has a three-second block period, which is faster than Ethereum's 13-second block period.
EVM compatibility
BSC's EVM compatibility makes it easy for developers to install dApps on the BSC framework.
Wallets
You can use a wallet that supports BEP-20 tokens. One option is MetaMask, which is free to download from metamask.io.
Strongest Ecosystem
Supported by a robust ecosystem of top-tier RPC plants, wallets, blockchain explorers, data indices, and substantial grants.