Ronald Ryan
by on June 16, 2022

Instead of understanding that BSC is well-known and can be used in various Web3 projects, even though there are many things that not everyone is aware of. However, most people in the crypto world will be familiar with the Binance exchange. Above all, Binance is the creator of the Binance Smart Chain (BSC), which is the foundation for all BEP20 token development.

The Rationale Behind BSC’s Introduction

The Binance Smart Chain BEP20 connectivity establishes a solid foundation for developing self-contained blockchain platforms to aid web3 development. The Binance Chain was created with the primary purpose of allowing speedier transactions on the Binance exchange. Understanding Binance Smart Chain is critical because it's the playground where you may play with BEP20 tokens.

A Few BEP-20 Projects

During BEP-20 token development, one thing to remember is the parallels between generating a token on Ethereum and BSC. Both procedures necessitate the use of similar programming languages, tools, and cognitive processes.

  • Pancakeswap is one of the popular decentralized exchange platforms built on BSC. PancakeSwap's several features aid in the exchange of tokens on the BSC. 
  • Autofarm is a yield aggregator and a popular project on Binance smart chain that uses assets as collaterals.
  • Money market protocols facilitate decentralized lending and borrowing on BSC. 

Build Your BEP-20 Token

The ability to modify code is the most significant benefit of decentralization and open-source software. This process' code can be found in OpenZeppelin. The platform is an open-source organization that may gather several token standards for use by developers. You can use the Erc-20 token standard code for this process because Bep-20 is identical to Erc-20.



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