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

3 answers

• Nov 28, 2021 · 3 years ago
  BEP 20 coins and ERC-20 tokens are both standards used for creating and managing tokens on different blockchain platforms. However, there are some notable differences between them. BEP 20 coins are tokens that adhere to the BEP 20 standard, which was introduced by Binance Smart Chain (BSC). They are primarily used within the Binance ecosystem and are compatible with the Binance Chain. BEP 20 coins offer fast and low-cost transactions, making them ideal for decentralized applications (dApps) and token issuances on BSC. On the other hand, ERC-20 tokens are tokens that follow the ERC-20 standard, which was introduced by Ethereum. They are widely used within the Ethereum ecosystem and are compatible with the Ethereum Virtual Machine (EVM). ERC-20 tokens have established themselves as the industry standard for creating tokens and are supported by numerous wallets, exchanges, and dApps. In terms of functionality, both BEP 20 coins and ERC-20 tokens allow developers to create fungible tokens with specific properties and functionalities. However, the underlying blockchain infrastructure and the associated features may differ. It's important to note that BEP 20 coins are not directly compatible with ERC-20 tokens, and vice versa. Therefore, if you want to transfer tokens between the Binance Smart Chain and Ethereum, you would need to use a bridge or a decentralized exchange that supports cross-chain swaps. Overall, the choice between BEP 20 coins and ERC-20 tokens depends on the specific requirements of your project and the blockchain ecosystem you wish to operate within.
  1593797
• Nov 28, 2021 · 3 years ago
  BEP 20 coins and ERC-20 tokens are two popular standards for creating tokens in the world of cryptocurrencies. While they share some similarities, there are key differences that set them apart. BEP 20 coins are specific to the Binance Smart Chain (BSC) and are primarily used within the Binance ecosystem. They offer fast and low-cost transactions, making them suitable for various decentralized applications and token issuances on BSC. On the other hand, ERC-20 tokens are specific to the Ethereum blockchain and are widely used within the Ethereum ecosystem. They have become the industry standard for creating tokens and are supported by a wide range of wallets, exchanges, and decentralized applications. In terms of compatibility, BEP 20 coins are not directly compatible with ERC-20 tokens. If you want to transfer tokens between BSC and Ethereum, you would need to use a bridge or a decentralized exchange that supports cross-chain swaps. It's worth noting that there are projects working on interoperability solutions to bridge the gap between different blockchain platforms. Ultimately, the choice between BEP 20 coins and ERC-20 tokens depends on the specific requirements of your project and the ecosystem you want to operate in. It's important to consider factors such as transaction speed, cost, community support, and the existing infrastructure when making a decision.
  1386462
• Nov 28, 2021 · 3 years ago
  BEP 20 coins and ERC-20 tokens are two different standards used for creating tokens on different blockchain platforms. While BEP 20 coins are specific to the Binance Smart Chain (BSC), ERC-20 tokens are specific to the Ethereum blockchain. BEP 20 coins offer fast and low-cost transactions within the Binance ecosystem. They are compatible with the Binance Chain and can be used for various decentralized applications and token issuances on BSC. On the other hand, ERC-20 tokens are widely used within the Ethereum ecosystem and have become the de facto standard for creating tokens. They are supported by a large number of wallets, exchanges, and decentralized applications. It's important to note that BEP 20 coins and ERC-20 tokens are not directly compatible with each other. If you want to transfer tokens between BSC and Ethereum, you would need to use a bridge or a decentralized exchange that supports cross-chain swaps. In conclusion, the choice between BEP 20 coins and ERC-20 tokens depends on the specific requirements of your project and the blockchain ecosystem you want to be a part of. Consider factors such as transaction speed, cost, community support, and the existing infrastructure before making a decision.
  1231308