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What is a bep20 token?

The BEP20 token standard on BSC applies to any token that is launched or created on Binance Smart Chain’s platform. Examples of such tokens are utility tokens, stablecoins, and security tokens. Another category of coins, known as “Peggy Coins”, are also built using the BEP20 standard and can be pegged to different assets.

Does BNB pay for bep20 tokens?

Just as Ethereum has gas fees, BNB pays for the transactions involving BEP20 tokens on Binance Smart Chain’s network. It’s relatively easy to create a BSC token or BEP20 token, and with a simple online search, you will find several helpful web tutorials on BEP20 token development.

What does bep20 stand for?

The abbreviation “BEP” is short for for “Binance Smart Chain Evolution Proposal”. BEP20 is the token standard created by Binance for Binance Smart Chain, the smart contract platform that runs parallel to the original Binance Chain. We’ll also go through the BEP2 token standard later in this article.

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