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).ย
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 whatโs done with โPeggyโ 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 theyโll collect the BNB as a fee for their troubles.