BEP-20

BEP-20, which stands for “BNB Smart Chain Enhancement Prospal 20”, is a standardization process that was initiated within the BNB Smart chain (BSC) ecosystem. While ERC-20 has its roots in Ethereum Improvement Proposals (EIPs), BEP-20 was created within the development framework of BSC. The introduction of the BEP-20 standard aimed to simplify the process of creating tokens within the BNB Smart Chain ecosystem, making it faster and easier to create tokens that are highly compatible with BSC’s infrastructure. By setting guidelines and specifications, BEP-20 makes it easier to create tokens that seamlessly interact with BSC. Similar to the ERC-20 standard for Ethereum, using BEP-20 reduces complexity within the BNB Smart Chain network, creating a more efficient and interoperable token ecosystem. This standardization enhances the overall functionality and accessibility of tokens built on the BNB Smart Chain, which ultimately contributes to the growth and development of the BSC ecosystem.