What is a bep-20 token?

BEP-20 tokens represent a diverse range of crypto assets that don’t have their own blockchain but reside on top of the Binance Smart Chain (BSC). BEP-20 is a technical standard that emerged to use for all smart contracts on the Binance Smart Chain for token implementations. How to receive BEP-20 tokens?

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 ).

What should I know before creating a bep20 address?

The first thing you need to know before creating a BEP20 address would point at the definition of the BEP20 standard. It is a token standard for Binance Smart Chain and works like the ERC20 standard in many ways. The token standard specifies some clear rules for all BSC-based tokens.

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.