Binance Smart chain has proved itself as a path-breaking technology that provides an excellent blockchain development ecosystem to those who want to negate the existing limitations of the Ethereum platform.
Trading of Binance smart chain-based tokens offers numerous benefits like more liquidity, less transaction fee, and promotes new ideas, scalability, and improved tech stack. This has resulted in a growing demand for BEP20 token development.
Let’s explore BEP20 Token developed on Binance Smart Chain
BEP-20 is a Binance Smart Chain (BSC) standard token that is comparable to the ERC-20 standard token – one of the most well-known Ethereum token standards. The main goal of BEP-20 was to give a flexible framework to developers to create a wide range of tokens on the Binance Smart Chain (BSC). To utilize BSC, one may develop a native token based on the BEP-20 token standard or peg tokens from another blockchain.
BEP-20 standard allows any Binance Smart Chain token to be used by other applications invariably, from wallets to decentralized exchanges. This standard interface also extends ERC-20 to facilitate cross-chain transfer; the main purpose of BEP is to create a Binance Smart Chain token contract. Trust wallet also supports the BEP-20 Token, making it simple to access your digital assets. The Binance Smart chain is currently live on a mainnet and ready to be tested by some of the most well-known crypto projects, and it is expected to significantly enhance the usefulness of the Binance chain and BNB.
Some of the prominent BEP20 Tokens are BUSD, CAKE, BAKE, SAFEMOON, C.R.E.A.M, SXP, ALPHA, WBNB, BUX, and BURGER.
BEP20 Token Advantages
The main advantages of the BEP-20 token include the following:
Easy to Make
A secure structure
Most Valuable Features of BEP20 Token Development
The tokens must precisely follow the guidelines to achieve excellent results. The following are some of the most critical requirements for BEP20 token development:
Verified source code compliant with BEP20
The token’s details
Decimals that you can change at will
Freedom to choose types of Supplies and Access
Should be burnable
Transactions should be completed quickly and with low fees
Should be compatible between chains
Should be easily listed over exchanges
Tokens that provide ownership rights and role-based access
BEP20 Token Development and consulting services:
Blockchain and crypto technology companies are experts in BEP20 token development and they cater to different business needs with the following services:
• Token Development & Creation
The development companies create both fungible and non-fungible tokens on the Binance Smart Chain blockchain, depending on the business model.
• BEP20 Token Development/Mintable BEP20 Token Development
The Blockchain and crypto technology consulting and development firms are experts in creating mintable BEP20 tokens with a non-fixed total supply, allowing token owners to “mint” new BEP20 tokens at any time.
• Token Migration
Highly-skilled blockchain engineers can move your token from beta to mainnet on any blockchain, including Ethereum, Tron, EOS, and BSC, as well as convert ERC tokens to trustworthy token standards.
• Development of an Initial Coin Offering (ICO)
Blockchain developers can help you assemble and erect your own ICO platform with extensive features and generate cash for new business plans by distributing ICO-based BEP20 tokens to value investors across the world. These blockchain engineers develop ICO Script that is both strong and scalable, allowing you to quickly start your crowd sale platform.
• Listing of BEP20 Tokens
Highly skilled teams can assist you with listing the created BEP20 tokens on a variety of leading cryptocurrency exchanges to increase their popularity and attract investors from all over the globe.
• Development of a BEP20 Token Wallet
Blockchain developers can also build personalized token wallets to store and manage Binance Chain tokens produced under any BEP20 standard.
You may be aware that Binance Smart Chain was conceived as a complement to Binance Chain. Binance Smart Chain caters to decentralized apps without congesting the original chain, which is intended for ultra-fast trading, thanks to the dual chain architecture.
Because of this architecture, cross-chain compatibility was given a lot of thought. As a result, BEP-2 tokens can be exchanged for their BEP-20 counterparts. The Binance Chain Wallet extension may be the simplest way to do so, but more options will surely arise over time.
If you are planning to build your BEP-20 token, Antier Solutions can assist you in your venture. We offer comprehensive solutions – from token creation and deployment to launch and marketing – to help start-ups and established organizations launch their tokens.