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BEP-20 is the token standard on the BNB Smart Chain (BSC). Like ERC-20 on Ethereum, this standard is used for creating tokens and facilitating smart contract development on the BNB Smart Chain.

BEP-20 is a token standard for creating digital assets -security tokens, utility tokens, and stablecoins- on the BNB Smart Chain.

BEP-20 tokens are designed to be compatible with Ethereum's ERC-20 standard, allowing them to be easily integrated with dApps built on Ethereum. They usually offer faster and cheaper transactions than Ethereum, making them a popular choice for DeFi applications and other blockchain-based projects. The biggest similarity with the Ethereum network is the use of its native coin, BNB, as gas fees on the blockchain.

The BEP-20 token standard was created to

  • enable EVM compatibility;

  • facilitate smart contracts development;

  • improve the protocol and optimize its speed as well as transaction cost;

  • boost the strengths of the Binance ecosystem in the web3 landscape.

Like any standard token, BEP-20 also has its specific parameters:

  • “Can Mint” specifies whether new tokens can be minted to increase the BEP-20 supply over time.

  • “Can Burn” is the opposite of Can Mint and indicates whether tokens can be burned.

  • “Blacklist” enables holders to ban or blacklist malicious addresses.

  • “Can Pause” specifies whether one can pause all token-associated operations in the event of a malicious attack or compromise of the platform (also known as freeze operation).

The most popular BEP-20 tokens are CAKE of PancakeSwap and BUSD of Binance.

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