What is BSc & bep-20?

BSC is a blockchain built by Binance that is dedicated to running Smart Contracts and extending the functionality of the BNB Chain. BEP-20 is essentially a token standard that is used to create tokens on the BSC Blockchain.

What is BEP 20 & how does it work?

The abbreviation “BEP” is short for “Binance Evolution Proposal” and it is the token standard for the Binance Smart Chain. BEP-20 extends ERC-20 which is the most popular token standard on the Ethereum Blockchain. BEP-20 is an outline that defines the rules for tokens on the Binance Smart Chain.

What is the difference between bep-20 and ERC-20?

For example, the BEP-20 token standard is for the Binance Smart Chain, whereas the ERC-20 is the token standard on the Ethereum chain. While ERC-20 can be used as a blueprint for any token generated on the Ethereum blockchain, the BEP-20 can only generate similar tokens like BEP-20 on the Binance smart chain.

What is BNB beacon chain (BSc) bep-20?

BEP-20 is a token standard on BNB Smart Chain (BSC) 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 BNB Beacon Chain’s BEP-2 and Ethereum’s ERC-20, it’s compatible with both.