What is BSc & bep20?

The BSC works in parallel or in collaboration with the Binance Chain, the first blockchain of the Binance crypto exchange. BEP20 basically refers to a token standard used for creating tokens on BSC, just like ERC20 for creating tokens on Ethereum. It is a critical tool for facilitating smart contract development on the Binance Smart Chain.

What is the difference between bep2 and bep20?

BEP2 and BEP20 are two different token standards used in the Binance Chain and Binance Smart Chain networks. The main difference is that BEP2 is a protocol used for native transactions on the Binance Chain. At the same time, BEP20 is a protocol used for smart contract transactions on the Binance Smart Chain.

Is bep20 compatible with ERC20?

BEP20 is an extension of ERC20, the most popular token standard in the Ethereum blockchain. Similarly, BEP20 is the standard token in the Binance Smart Chain platform. This token defines who can use it, spend it, how, and other related details. BEP20 is compatible with BEP2 and ERC20 because they have much in common.

What is the difference between BSC and ERC20?

While Ethereum was the first attempt at creating an internet computer running smart contractswith ERC20 as its native token, BSC with its BEP20 token standard is growing in popularity as developers have found advantages in creating a BEP20 token on BSC rather than ERC20 tokens on Ethereum.