BEP-20

BEP-20 is a token standard on BNB Smart Chain (BSC). It's similar to the Ethereum ERC-20 token standard. You can think of a token standard as a blueprint for tokens that defines how they can be spent, who can spend them, and other rules for their usage.

BEP-20 was conceived as a technical specification for BNB Smart Chain, with the goal of providing a flexible format for developers to launch a range of different tokens. These could represent anything from shares in a business to dollars stored in a bank vault (i.e., a stablecoin). 

One could also create a native asset as a BEP-20 token, or even peg tokens from other blockchains to make them usable on BNB Smart Chain. This is what’s done with “Peggy” coins, which are essentially BEP-20 versions of other crypto assets (such as LINK or XRP).

BEP-20 token transfers are fueled by BNB. This provides an incentive for validators to include the transactions in the blockchain, as they’ll collect the BNB as a fee for their troubles.