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Understand the difference between Bep2 and Bep20 on Binance Smart Chain
Regarding cryptocurrencies, one of the most interesting aspects is the wide range of tokens available for purchase and negotiation on various blockchains. Two popular options that have drew significant attention in recent years are the smart channel Binance (BSC) and its native token, Binance Coin (BNB). In this article, we will deepen the world of Bep2 vs. Bep20, by specifically focusing on their differences on the smart binance chain.
What is a token?
Before we immerse ourselves in the details of Bep2 and BEP20, we define what a token is. A token is a digital resource that represents a specific resource or service on a blockchain network. Consider Gettoni as the cryptocurrencies themselves, but with unique characteristics that distinguish them from traditional fiduciary currencies.
BEP2 vs. BEP20: a brief overview
BEP2 and BEP20 are both native tokens created on Binance Smart Chain (BSC), which is one of the greatest decentralized exchanges (DEX) in the world. The main difference between these two token lies in their structure, their usefulness and their use.
Token Bep2
The BEP2 token is created using the BEP-2 protocol, which was introduced for the first time by Binance Labs in 2018. This protocol allows the creation of token with a specific set of attributes, such as: for example:
* Fixed supplies : a limited number of tokens can be invented at the time of launch.
* Economy of non -congested tokens : The tokens can be unlocked after a certain period to encourage users to hold them.
* based on smart contracts
: The tokens are archived on the blockchain and carried out through smart contracts.
The token bep2 generally offers greater control over their supply, their locking mechanism and their utility than BEP20. Some examples of native BSC tokens with the characteristics of BEP2 include:
* Binance Coin (BNB) : A governance token that can be used to vote on proposals.
* Samba Finance Token (SBM) : a loan protocol that rewards users with interest payments.
Token BEP20
The BEP20 token, on the other hand, is created using the BEP-20 protocol, which was introduced for the first time by Opensea in 2018. This protocol allows the creation of token with a more flexible attribute set:
* No fixed power supply : there is no limit to the number of tokens that can be invented.
* based on liquidity : The tokens are distributed through several exchanges and wallets, which makes them easily negotiable.
* Token Standardization: The BEP20 token follows the standard standard of the ERC-20 standard, guaranteeing compatibility with other platforms.
The BEP20 token often offers greater flexibility in terms of use than the BEP2 token. Some examples of BSC native tokens with the BEP20 functionality include:
* Token sushiiswap (SRW) : A decentralized exchange that rewards users with interest payments.
* Finance token Dharma (DFN) : a loan protocol that rewards users with interest payments.
Key differences
Now that we have covered the bases of Bep2 and BEP20, we highlight some key differences between these two tokens:
| | Token Bep2 | Token Bep20 |
| — | — | — |
|
Food | Fixed power supply | No fixed power supply |
|
Liquidity | Greater liquidity due to several lower liquidity exchanges due to a single exchange distribution |
|
Use | More control over the economy and the usefulness of the token | More flexibility in terms of use |
|
Standardization | Standard standard standard | Non-standardized token (BEP-2 protocol) |
In conclusion, BEP2 vs. BEP20 are two distinct types of tokens created on the smart channel Binance. Although both have their advantages, it is essential to understand the differences in supply, liquidity, use and standardization between these two tokens.
Conclusion
The cryptocurrency world is constantly evolving and includes the nuances between BEP2 and BEP20 can help you make informed decisions when investing or negotiations on BSC.
