Bep2 against Bep20: Understanding the Standard of Binance Token
In the world of crypto currency, tokens standards play a key role in determining the adoption and use of different blockchain platforms. Two popular token standards that have attracted significant attention lately are Binance Coin (BNB) and Binance Dex Token (BNBBN). In this article, we will explore the details of both the BEP2 and the BeP20 standards of Token and explain why they are key to companies that want to enter the cryptocurrency market.
What is the standard token?
The token standard refers to a set of rules and guidelines that regulate the creation, distribution and use of token on the blockchain network. These standards define how tokens can be issued, traded and stored, ensuring that all users follow the same procedures. Token standards are usually developed by regulatory bodies, such as the regulatory body of the financial industry (FINRA) or the Securities (SEC) Commission to monitor the cryptocurrency market.
Bep2 against Bep20: Key differences
Both BNB and BNBBN are built on a smart Binance chain (BSC), a blockchain network for proof (POS) that allows for faster transaction time and lower energy consumption compared to Ethereum. Here are some key differences between BeP2 and Bep20:
* The name of token : The most obvious difference is the name token. BNB indicates binance coins, while BNBBN indicates Binance Dex Token.
* Supply Management
: BEP2 Tokens have a fixed supply, which means that after being mined (or forged), there is no chance of creating additional coins. In contrast, the BeP20 tokens have an endless supply, allowing potential inflation.
* Tokenization : Both tokens are tokenized on a smart binance chain, but with different approaches to tokenomics. The BeP2 is a standard with a single side that defines a certain case of use (eg stablecoin). The BeP20 is also a standard with one side, but allows for greater flexibility in terms of using and adopting token.
* Support for smart contracts : Both tokens support smart contracts on BSC, allowing developers to build adapted decentralized applications (DAPPS) using these tokens.
Why choose a Bep2 or Bep20?
When selecting between the BeP2 and BeP20, consider the following factors:
- Adoption rates : BEP2 is wider accepted in the cryptocurrency market, and more companies and developers have decided to support.
- Regulation Compliance : BEP2 Tokens are generally considered to be in accordance with the regulatory requirements of the BeP20 tokens due to their fixed supply and restricted cases.
- Scalability : BEP2 is optimized for scalability compared to the BeP20, which can be useful for companies that want to increase transaction capacity on BSC.
Conclusion
The BeP2 and the BeP20 are two different standards of tokens that meet different needs in the cryptocurrency market. Understanding these differences can help companies make informed decisions on the adoption and optimization strategies. By selecting the right standard, companies can provide impeccable integration with their existing systems and maximize their return to the quickly developing the Crypto currency world.
additional resources
- [Binance Smart Chain (BSC) Whitepaper] (
- [BINANCE COIN (BNB) Whitepaper] (
- [Binance Dex Token (BNBBN) White Paper] (