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BEP-2 or Binance Evolution Proposal 2 is one of the token standards (a set of rules and technical specifications) for creating and implementing digital assets on the BNB Beacon Chain.

To fully understand cryptocurrencies, especially tokens, it is essential to know that most of them are built with the same scheme. These schemes, called token standards, define some of their main features and properties.

Token standards are not software; they define the essential rules, specifications, and features that tokens need to follow to function in the blockchain ecosystems.

The BEP-2 is the original token standard in the Binance ecosystem, built for its native coin BNB. It was launched in 2019 and tailored for use on centralized and decentralized exchanges as transaction fees.

BEP-2 can identify a wide range of tradable digital assets designed to be transferable, fast, and efficient within the ecosystem.

Holders can convert their BEP-2 tokens into BEP-20 (the corresponding ERC-20 of Ethereum), which can interact with smart contracts and applications in the entire Binance landscape.

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