What is the difference between BEP-20 and ERC-20 tokens in MetaMask?

3 answers

• Nov 29, 2021 · 3 years ago
  BEP-20 and ERC-20 are both token standards used in blockchain networks. The main difference lies in the blockchain networks they are built on. BEP-20 tokens are based on the Binance Smart Chain (BSC), while ERC-20 tokens are based on the Ethereum network. This means that BEP-20 tokens can only be used within the BSC ecosystem, while ERC-20 tokens can be used on the Ethereum network and any other blockchain that supports ERC-20. When using MetaMask, you can interact with both BEP-20 and ERC-20 tokens, but you need to switch networks within MetaMask to access tokens from different networks.
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• Nov 29, 2021 · 3 years ago
  BEP-20 and ERC-20 tokens have different addresses formats. BEP-20 tokens use the BSC address format, which starts with '0x'. On the other hand, ERC-20 tokens use the Ethereum address format, which also starts with '0x'. It's important to double-check the token address when sending or receiving tokens to ensure they are compatible with the network you are using in MetaMask.
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• Nov 29, 2021 · 3 years ago
  As an expert at BYDFi, I can tell you that BEP-20 tokens are gaining popularity due to the lower transaction fees and faster confirmation times offered by the Binance Smart Chain. However, ERC-20 tokens still dominate the market and have a wider range of applications and support from various decentralized applications (dApps) and exchanges. It's important to consider the specific use case and network compatibility when choosing between BEP-20 and ERC-20 tokens in MetaMask.
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