Do I use BEP2 or BEP20?

Blockchain Platform Distinction: BEP2 tokens are inherently designed for Binance Chain, a blockchain platform optimized for high-speed transactions. Conversely, BEP20 tokens are native to Binance Smart Chain, a platform that focuses on smart contract functionality and decentralized applications.

Wallet Services by BTCC: BTCC also offers wallet services, providing a secure and convenient way for users to store their cryptocurrencies. These wallets are designed with security features to protect against unauthorized access and theft. By using BTCC's wallet services, users can safely manage their crypto assets and participate in various trading activities on the exchange.

Consensus Mechanism Differences: BEP2 tokens rely on the Proof of Work (PoW) consensus algorithm, which involves miners solving complex mathematical problems to validate transactions. This process requires computational resources and results in transaction fees known as gas fees. On the other hand, BEP20 tokens employ a Proof of Stake Authority consensus mechanism, which involves validators staking their tokens to participate in the validation process.

Transaction Cost Considerations: BEP2 tokens involve gas fees, which are paid to miners as compensation for their computational efforts. These fees can vary depending on network congestion and demand for block space. In contrast, BEP20 tokens do not charge transaction fees, as the validation process is based on staking rather than mining.

BTCC Services Overview: BTCC, a cryptocurrency exchange headquartered in the UK, offers a comprehensive suite of services to its users. These include spot trading, which allows investors to buy and sell cryptocurrencies at current market prices. Additionally, BTCC provides futures trading, enabling traders to speculate on the future prices of cryptocurrencies.