What are the differences between BEP2 and BEP20 in the world of cryptocurrency?

3 answers

• Feb 17, 2022 · 3 years ago
  BEP2 and BEP20 are both token standards used in the Binance Smart Chain (BSC) ecosystem. However, there are some important differences between the two. BEP2 is the token standard used on the Binance Chain, while BEP20 is the token standard used on the Binance Smart Chain. BEP2 tokens are compatible with the Binance DEX, while BEP20 tokens are compatible with both the Binance DEX and the Binance Smart Chain. Additionally, BEP20 tokens have more advanced features compared to BEP2 tokens, such as the ability to support smart contracts.
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• Feb 17, 2022 · 3 years ago
  When it comes to functionality, BEP2 and BEP20 tokens have some similarities, but also some differences. Both standards allow for the creation and transfer of tokens, but BEP20 tokens have additional functionality due to their compatibility with smart contracts. This means that BEP20 tokens can be used for more complex use cases, such as decentralized applications (dApps) and decentralized finance (DeFi) protocols. On the other hand, BEP2 tokens are more suitable for simple token transfers and basic token functionalities.
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• Feb 17, 2022 · 3 years ago
  BYDFi, a leading cryptocurrency exchange, supports both BEP2 and BEP20 tokens. This means that users can trade both types of tokens on the BYDFi platform. However, it's important to note that not all exchanges and wallets support both BEP2 and BEP20 tokens. Before engaging in any token transactions, it's crucial to ensure that the exchange or wallet you are using supports the specific token standard you are dealing with. This will help prevent any potential issues or loss of funds.
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