What Are the Differences Between an ERC20 and BEP20?

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Differences Between an ERC20 and BEP20


Cryptocurrencies and blockchain technology have given rise to various token standards, each serving a specific purpose in the decentralized landscape. Two prominent standards are BEP-20 and ERC-20, associated with Binance Smart Chain (BSC) and Ethereum, respectively. Here's a concise comparison:

Also Read: How to Withdraw BEP-20 Tokens from Binance

Blockchain Origin

  • BEP-20: Native to Binance Smart Chain.
  • ERC-20: Native to Ethereum.

Ecosystem

  • BEP-20: Thrives in the Binance ecosystem, offering faster and cheaper transactions on BSC.
  • ERC-20: Integral part of the Ethereum ecosystem, hosting the majority of decentralized applications.

Token Development Rules

  • BEP-20: Governed by rules specific to Binance Smart Chain
  • ERC-20: Adheres to Ethereum's token standards.

Use Cases

  • BEP-20: Ideal for projects within the Binance ecosystem, benefiting from BSC's efficiency
  • ERC-20: Widely used across diverse applications within the Ethereum network.

Technical and Market Differences

  • While both serve similar purposes, BEP-20 and ERC-20 tokens exhibit technical and market disparities

Blockchain Platforms

  • BEP-20: Built on Binance Smart Chain
  • ERC-20: Built on the Ethereum blockchain.

In conclusion, the choice between BEP-20 and ERC-20 tokens depends on project requirements, ecosystem preferences, and desired functionalities.

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