What is the difference between BEP 20 tokens and ERC20 tokens?

3 answers

• Dec 16, 2021 · 3 years ago
  BEP 20 tokens and ERC20 tokens are both standards for creating tokens on blockchain networks. However, there are some key differences between them. BEP 20 tokens are based on the Binance Smart Chain (BSC), which is a blockchain platform developed by Binance. They are compatible with the Ethereum Virtual Machine (EVM) and can be used on both BSC and Ethereum networks. BEP 20 tokens offer faster and cheaper transactions compared to ERC20 tokens, thanks to the BSC's high throughput and low fees. On the other hand, ERC20 tokens are based on the Ethereum blockchain. They are widely used in the cryptocurrency ecosystem and have established a strong presence in the market. ERC20 tokens are supported by a large number of wallets, exchanges, and decentralized applications (dApps), making them easily accessible and tradable. In summary, while both BEP 20 tokens and ERC20 tokens serve the purpose of creating tokens, BEP 20 tokens offer faster and cheaper transactions on the Binance Smart Chain, while ERC20 tokens have a larger network and ecosystem support on the Ethereum blockchain.
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• Dec 16, 2021 · 3 years ago
  BEP 20 tokens and ERC20 tokens are two different standards for creating tokens on blockchain networks. BEP 20 tokens are specifically designed for the Binance Smart Chain, while ERC20 tokens are designed for the Ethereum blockchain. One of the main differences between BEP 20 tokens and ERC20 tokens is the underlying blockchain platform they are built on. BEP 20 tokens are built on the Binance Smart Chain, which offers faster transaction speeds and lower fees compared to the Ethereum blockchain. ERC20 tokens, on the other hand, benefit from the wide adoption and support of the Ethereum ecosystem. Another difference is the compatibility of the tokens. BEP 20 tokens can be used on both the Binance Smart Chain and the Ethereum network, while ERC20 tokens are only compatible with the Ethereum network. Overall, the choice between BEP 20 tokens and ERC20 tokens depends on the specific requirements and goals of the project or application.
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• Dec 16, 2021 · 3 years ago
  BEP 20 tokens and ERC20 tokens are two popular standards for creating tokens on blockchain networks. While both serve similar purposes, there are some notable differences. BEP 20 tokens are associated with the Binance Smart Chain, a blockchain platform developed by Binance. They offer faster transaction speeds and lower fees compared to ERC20 tokens on the Ethereum network. BEP 20 tokens are compatible with the Ethereum Virtual Machine (EVM), which means they can be used on both the Binance Smart Chain and the Ethereum network. On the other hand, ERC20 tokens are based on the Ethereum blockchain and have gained widespread adoption in the cryptocurrency ecosystem. They are supported by a wide range of wallets, exchanges, and dApps, making them easily tradable and accessible. In conclusion, the choice between BEP 20 tokens and ERC20 tokens depends on factors such as transaction speed, fees, and the specific blockchain ecosystem a project or application wants to leverage.
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