BEP20 is a standard for the development of smart contracts that contains a set of technological rules of the BinanceChain environment, which describe the functions of the source code. Based on the common ERC 20.
Vitalik Buterin, a Russian programmer, based the Ethereum blockchain on the concept of a smart contract that was initially developed in the 1990s. He devised the rules of the smart contract and token creation that were as simple as possible but yet efficient and implemented them on the Ethereum network. The main idea was to develop smart contracts that can be used universally with rules that have a flexible format. Since the Buterin blockchain can solve any task (describing any task as a program that, under certain circumstances, will have real conditions and will be will perform), which is why it is a Turing Complete programming language. For users, it means that the Ethereum blockchain makes it possible to implement any idea.
The basis of the technology is the Ethereum virtual machine. At one time, it was this concept that attracted many users to the ecosystem of digital assets. Binance Chain is a global blockchain exchange that solves user problems thanks to Binance Smart Chain (BSC). You can implement your own applications on it to generate tokens. And the BEP20 token is a standard token (a protocol for developing smart contracts), which is almost identical to the ERC20. This means that any BSC token corresponds to the ERC20 token.
Why Binance Smart Chain Network?At first glance, it seems that the Ethereum blockchain is more reliable, having been in operation for almost nine years, while Binance Smart Chain was launched last year. However, the fork was not designed as a source of additional income for Binance Chain exchange owners. Its main goal is to improve the capabilities of the blockchain. First of all, it concerns the technical characteristics.
Binance Smart Chain
The transaction fee (gas) is several times lower than that of the Ethereum blockchain.A BEP20 token is easy to implement and can be verified using Binance Smart Chain. Beb20 token Development Users do not have to generate a contract on the mainnet at the same time, but can instead use the service implemented by Binance Smart Chain to test a token source code.
