How does BEP 20 coin differ from ERC 20 coin?

3 answers

• Nov 27, 2021 · 3 years ago
  BEP 20 coin and ERC 20 coin are both token standards used in the cryptocurrency industry, but they have some key differences. BEP 20 is the token standard on the Binance Smart Chain (BSC), while ERC 20 is the token standard on the Ethereum blockchain. The main difference lies in the underlying blockchain platform they operate on. Binance Smart Chain is known for its fast and low-cost transactions, while Ethereum is known for its robust smart contract capabilities. This means that BEP 20 tokens can be transferred and traded more quickly and at a lower cost compared to ERC 20 tokens. However, ERC 20 tokens have the advantage of being more widely supported by wallets, exchanges, and decentralized applications (dApps) due to Ethereum's larger ecosystem. In summary, the choice between BEP 20 and ERC 20 depends on the specific needs of the project or user. If speed and cost-efficiency are a priority, BEP 20 may be the preferred option. On the other hand, if compatibility with a larger ecosystem and advanced smart contract functionality are important, ERC 20 may be the better choice.
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• Nov 27, 2021 · 3 years ago
  BEP 20 coin and ERC 20 coin are both widely used token standards in the cryptocurrency space. While they share similarities, they also have distinct characteristics. BEP 20 is the token standard on the Binance Smart Chain, which offers fast and low-cost transactions. On the other hand, ERC 20 is the token standard on the Ethereum blockchain, known for its robust smart contract capabilities. This means that BEP 20 tokens can be transferred and traded more efficiently, while ERC 20 tokens have access to a larger ecosystem of wallets, exchanges, and dApps. Ultimately, the choice between BEP 20 and ERC 20 depends on the specific requirements and goals of the project or user.
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• Nov 27, 2021 · 3 years ago
  BEP 20 coin and ERC 20 coin are both token standards used in the cryptocurrency industry. BEP 20 is the token standard on the Binance Smart Chain, while ERC 20 is the token standard on the Ethereum blockchain. The main difference between the two lies in the underlying blockchain platform. Binance Smart Chain offers faster and cheaper transactions compared to Ethereum, making BEP 20 tokens more suitable for certain use cases such as decentralized finance (DeFi) applications. However, ERC 20 tokens have the advantage of being more widely supported by wallets and exchanges due to Ethereum's established ecosystem. It's important to consider the specific requirements and goals of a project or user when choosing between BEP 20 and ERC 20.
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