{"id":11073,"date":"2024-02-14T14:23:38","date_gmt":"2024-02-14T19:23:38","guid":{"rendered":"https:\/\/faisalkhan.com\/?page_id=11073"},"modified":"2024-02-14T14:23:43","modified_gmt":"2024-02-14T19:23:43","slug":"bep20-token","status":"publish","type":"page","link":"https:\/\/faisalkhan.com\/learn\/payments-wiki\/bep20-token\/","title":{"rendered":"BEP20 Token"},"content":{"rendered":"\n

BEP20 is a token standard on the Binance Smart Chain (BSC), similar in concept to Ethereum’s ERC20 standard. It defines a set of rules that a token must follow to function within the BSC ecosystem. This standard allows developers to easily create interoperable tokens with a wide range of functionalities, including fungible assets like cryptocurrencies, governance tokens, and utility tokens.<\/p>\n\n\n\n

Where It Is Used<\/h3>\n\n\n\n

BEP20 tokens are used exclusively on the Binance Smart Chain, a blockchain network built for running smart contract-based applications and designed to offer high throughput and low transaction fees.<\/p>\n\n\n\n

Why It Is Used<\/h3>\n\n\n\n

The BEP20 standard is used for its flexibility, efficiency, and compatibility with the Ethereum ecosystem, thanks to BSC\u2019s Ethereum Virtual Machine (EVM) compatibility. This allows for seamless transfers of assets between BSC and Ethereum, making it attractive for developers and users seeking alternatives with lower fees and faster transactions.<\/p>\n\n\n\n

Who Uses It<\/h3>\n\n\n\n
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