BEP-20

BEP-20 is a technical standard for creating and implementing tokens on the Binance Smart Chain (BSC), which is a blockchain network developed by the cryptocurrency exchange Binance. BEP-20 tokens are similar to ERC-20 tokens, which are based on the Ethereum blockchain, but they are specifically designed for use on the Binance Smart Chain.

The BEP-20 standard defines a set of rules and interfaces that tokens must adhere to in order to be compatible with the Binance Smart Chain. These rules include functions for transferring tokens, querying token balances, and other standard features commonly found in token contracts.

Key features of BEP-20 tokens include:

• Compatibility: BEP-20 tokens are fully compatible with wallets, exchanges, and other applications that support the Binance Smart Chain.
• Interoperability: BEP-20 tokens can be seamlessly transferred and traded on the Binance Smart Chain alongside other tokens and assets.
• Smart Contract Support: BEP-20 tokens are implemented as smart contracts on the Binance Smart Chain, allowing for programmable and automated token functionality.
• Low Fees and Fast Transactions: Transactions involving BEP-20 tokens typically have lower fees and faster confirmation times compared to those on the Ethereum network, due to the Binance Smart Chain's architecture.

BEP-20 tokens are commonly used for a wide range of purposes, including decentralized finance (DeFi) applications, tokenized assets, gaming assets, and more. They have become an integral part of the Binance Smart Chain ecosystem, facilitating the creation and exchange of digital assets on the platform.