BEP-20

What Is BEP-20?

BEP-20 serves as the token standard for BNB Smart Chain (BSC), closely mirroring Ethereum’s ERC-20 standard. These token standards function as technical frameworks that define token usage, user permissions, and the operational rules for tokens on the blockchain.

Developed as a technical specification for BNB Smart Chain, BEP-20 provides a flexible foundation for developers to launch a broad array of token types. The standard can represent nearly any asset, from company shares to bank-stored value, including stablecoins.

Developers can issue native assets as BEP-20 tokens or bridge tokens from other blockchains, enabling their use on the BNB Smart Chain. For example, "Peggy" tokens are BEP-20 representations of assets from other blockchains, such as LINK or XRP.

BNB backs BEP-20 token transfers, providing incentives to validators to process these transactions by awarding BNB as transaction fees.

FAQ

What Is BEP-20? What Are the Key Features of the BEP-20 Token Standard?

BEP-20 is the token standard for Binance Smart Chain (BSC), sharing similarities with Ethereum’s ERC-20 standard. Its primary features include seamless migration of projects from Ethereum to BSC, high compatibility, and low transaction fees.

What Are the Differences Between BEP-20 and ERC-20?

BEP-20 operates on Binance Smart Chain, while ERC-20 is native to Ethereum. The fundamental distinction is the underlying blockchain. BEP-20’s PoSA consensus mechanism results in substantially lower transaction fees.

How Do You Create and Issue a BEP-20 Token?

Leverage Remix IDE to develop your smart contract, set parameters such as name, symbol, and decimals, compile the code, and deploy it to Binance Smart Chain using MetaMask, paying transaction fees in BNB.

Is BEP-20 Token Security Guaranteed? What Risks Should Be Considered?

BEP-20 token security hinges on code quality and thorough contract audits. Key risks include smart contract vulnerabilities and external attacks. Safeguard your private keys and consider using multisig wallets for additional security.

Can BEP-20 Tokens Be Transferred Across Chains? How Do You Transfer Between Different Chains?

Yes. You can transfer BEP-20 tokens across chains using reliable multi-chain bridges. These bridging protocols lock your tokens on the origin chain and issue wrapped tokens on the destination chain, ensuring a secure and efficient process.

Which Major Projects Use the BEP-20 Standard?

Leading projects utilizing BEP-20 include PancakeSwap and Venus. BEP-20 enjoys widespread adoption for tokens on Binance Smart Chain, supporting ecosystem interoperability and broad compatibility.