What is the bep-20 token standard?

The BEP-20 token standard applies to all kinds of tokens that will launch on the BSC platform, such as tokenized securities and stablecoins. Peggy Coins, which are BEP-20 tokens pegged to other crypto assets such as BTC and LINK, also follow the BEP-20 token standard.

What is bep-20 & how does it work?

BEP-20 is a BNB Chain token standard created with the intention of extending ERC-20, which is one of the most common Ethereum token standards out there. BEP-20 is a blueprint as to how a token can be spent and who can spend it, and it even has rules about its overall usage.

What are bep-20 pegged coins?

Nowadays, aside from native BEP-20 assets on BSC, there are also pegged coins, which are essentially BEP-20 equivalents of other cryptoassets such as Ethereum, Cardano, or Bitcoin. They are pegged on a 1:1 ratio to the corresponding assets. A useful analogy here would be stablecoins such as USDT being pegged to the dollar.

Can a bep-20 token be used on BNB smart chain?

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 BNB 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 ).