Binance Smart Chain BEP20 Token Development - To Build Your Own BEP20 Token On BSC
BEP20 Token Development Company
BEP-20 Token Development Company - Sellbitbuy, is a pioneer token development company who sets a strong footprint in token development services across borders & horizons. Developers in our team, ensure whether all the BEP-20 token development standards are mandatorily followed to offer endless business benefits to the people who are in search of Binance Smart Chain tokens development services.
Front line business opportunities can be created if you get the best solutions for BEP-20 token development. That's why we are here to amplify your business opportunities by giving our best in the agile development process, the best design methodologies that make your BEP-20 tokens safe and secured & so on.
You can position your business at the greatest height by creating a blockchain environment like BSC with native BEP-20 tokens. Before getting started, ensure you have a glance at the types of BEP-20 token development services & more.
Features Of BEP20 Token Development
Extreme Fast Transactions
The purpose of creating BEP-20 tokens is to deliver transactions at a faster rate. Binance Chain is noticeable only after exploring that this native token is fast for making token exchanges.
Low Transaction Fees
Payment of gas fees is less when compared to Ethereum. If a user wants to make transactions in a hassle-free way then this BEP-20 token suits well, as only less payment is imposed in Binance Chain.
Easy To List On Exchanges
Token sales are very important once after a token is created perfectly. After creating a native token like BEP-20 it can be easily listed on Binance DEX.
Switching of networks is quickly possible just by sticking to basic wallets. The native token of Binance Chain, the "BEP-20 tokens" is interchangeable with BEP-2 tokens.
It is entirely decentralized so quick trading of BEP-20 tokens is possible that requires very less effort.
Tokens are legal for exchanging so it doesn't require any intermediaries for sharing an asset.
Greater convenience is offered and enriched by the Binance Chain users, as wallets are extremely compactable for storing their assets. BEP-20 tokens are supported by familiar wallets like trust wallets.
Tailored Smart Contract
Smart-contract-based applications are perfectly supportable by Binance Smart Chain (BSC). As BSC's smart contract has the capability to support huge transactions, a self-executing of trades happens to carry out the trade.
Unique Features Of BEP-20 Tokens
Some of the unique features of BEP-20 token are as follows,
- Programmable equity
- Greater market efficiency
- Token Burning
- Ownership of assets
- Automatic liquidity generation
- Static rewards
- Anti-whale mechanics
- Honey-pot free code
BEP20 Token Development
BEP-20 token development is a significant process to develop a token that follows BEP-20 token standards. Our BSC token development process ensures that the developed token is easily operatable on Binance Smart Chain.
Our developers at Sellbitbuy ensure, that a unique asset is built for carrying out trading of BEP-20 tokens, in a hassle-free way. A perfect structure is followed by our team for building your BEP-20 tokens in a standard way. Even we look forward for your ideas for making customizations in our BEP-20 token development process.
BEP20 Token Development Services - Sellbitbuy
Governance BEP-20 tokens like CAKE & BAKE are developed for the purpose of voting for making a change in the platform.
Chance for you to launch the next big cryptocurrency of your own. You can offer it for trading so that traders can buy & sell your BEP-20 tokens.
Asset pegged crypto tokens can be connected to real-world assets like stocks. We assure you to offer services by developing an asset-pegged crypto token.
Internal payments can be done by using tokens for utility purposes. By using our BEP-20 token development services you can create your own utility tokens.
Advantages Of BEP20 Token
- Enriched performance is attained with great potential for making an upgrade in the future.
- BEP-20 is interchangeable with Binance chain BEP-2 tokens so that users at both platforms can use it frequently.
- No extra charge is required as traders can easily earn BNB while processing transactions.
- New tokens can be developed based on the native BEP-20 tokens.
- A robust staking mechanism for BNB tokens is offered.
- Opportunity to engage millions of audiences across Binance DEX platforms.
- A huge decentralized ecosystem is developed that supports token holders, token users, developers & more.
- Blockchain-based tokens apart from BEP-20 tokens can be pegged to BEP-20 tokens. Commonly this process is called "Peggy coins".
- It supports interoperability by providing cross-chain DeFi mechanisms.
- Ensures safety standards are delivered to develop a trusted blockchain environment for users.
What Is BEP20 Token?
BEP-20 is a popular Binance Smart Chain token standards developed with the intent of extending ERC-20 token standards. BEP-20 tokens ensure that it is completely compactable with ERC-20 standards to improve this network's efficiency.
It lists out the blueprint of how a token can be bought and spent. Technically speaking BEP-20 tokens are developed with a motive to deliver token flexibility for allowing developers to launch different tokens. Frequent changes are done to the BEP-20 tokens, to improve this protocol by optimizing its speed.
Okay, when concluding about BEP-20 tokens, anyone can create a native asset like BEP-20 tokens and make it usable across blockchains. Once your BEP token is developed it should be confirmed with the BEP-20 token standards.
Let's see what BEP-20 token standards means.
BEP-20 Token Standards
Token standards are generally the most important aspect followed by the token development company. The main motive of following the token standards is to ensure "How a token can be bought and sold".
BEP-20 token standards define a set of principles that says the ways to develop a wide range of tokens on top of the Binance Chain. It represents a set of digital assets like governance of tokens, business shares, stablecoins, etc,.. In addition to it, functionalities of token like ownership of tokens, returning of token balances, transferring of tokens is guaranteed.
Once after confirming the BEP-20 token standards, the users can do swapping of tokens elegantly.
How Does BEP20 Token Work?
BEP token follows standard principles of BEP-20 token standards, and it is compared relatively with other ERC-20 token standards. It is essential for us to discuss about it's similarities before getting started with it.
BEP-20 Vs ERC-20
Tokens like BEP-20 & ERC-20 are very similar to each other. Moreover these two tokens are considered as equals. Even at the time of launch, Binance started BNB coin as an ERC-20 token but after a point of time, Binance changed from ERC-20 token on Ethereum to BEP-2 token on Binance Chain.
Binance creates interoperability as it is compactable with multiple blockchains like ERC-20 and BEP-20 tokens. Even though both BEP-20 tokens and ERC-20 tokens look similar to each other, the address for BEP-20 & ERC-20 is distinct from each other.
BEP-2 Vs BEP-20 Tokens
BEP-2 tokens also follow the same standards just like BEP-20 tokens. It is also linked with the similarities of ERC-20 tokens. These BEP-2 tokens also can be stored in a wallet just like BEP-20. It has support from various hardware wallets like Trezor Model T, Ledger Nano S, Ledger Nano X, and the Coolwallet S.
Both BEP-2 and BEP-20 tokens allow cross-chain functionality for making cross-chain transfers.
Source: IvanOnTech Academy
BEP20 Token Development Process
Now, it is time for us to explore the core concept of this article. "How BEP-20 tokens are developed", okay!
- The first thing to be concentrated on is to create a smart contract for the automatic execution of tokens.
- A high-level programming language called "solidity "is used for developing a smart contract by our developers.
- By doing so multiple libraries are executed that define user-defined types for supporting smart contract features.
- List of some major steps that is mandatorily followed while developing BEP-20 tokens.
Step - 1:
A new file like TokenName.sol is created on solidity language. Now the smart contract is coded by our developers in this language. Finally, it is complied to token.sol file version, and deployed.
Step - 2:
A wallet is essential for multiple purposes, so install and set a wallet like Metamask or trust wallet. Metamask like wallet allows you to store your assets, and the wallet address is referred for buying and selling of tokens.
After installing it, "create a wallet", and ensure that you have a backup phase of the wallet. In case you forgot your password a backup will help you.
Step - 3:
Configure your wallet and then go to the "Settings" page, from the drop-down menu in the metamask page and locate the networks menu. Then click on to "Add network", to manually add BSC.
Adding networks can be done either via two types, (ie) testnet or mainnet. You can choose either one of the above.
Step - 4:
Go to "Binance Smart Chain Faucet", then paste your BSC wallet address. Finally, at BNB dropdown menu, you can choose the amount that you wish to receive.
Your funds will be appeared in the Testnet wallet after the transaction takes place.
Major BEP-20 Tokens
Binance Pegged Tokens (Peggy Coins)
Peggy coins are the most famous BEP-20 token on BSC network. It is a fully backed 1:1 crypto asset. There are 34 familiar pegged BEP-20 tokens that include ETH, BTC, USDT, LTC & ADA.
PancakeSwap Token (CAKE)
PancakeSwap is a popular decentralized exchange that allows the swapping of BEP-20 tokens. It uses an official token called "CAKE", and it is a BEP-20 governance token of the PancakeSwap exchange platform.
BakerySwap is an another famous AMM-Based decentralized exchange that uses BEP-20 governance token called "BAKE" token.
The above-mentioned tokens are some of the widely used BEP-20 governanced tokens.
Source: ByBit Learn
FAQ - BEP20 Token Development
What is the maximum number of BEP20 tokens that can be created?
At a shot, 99 billion tokens can be created.
How do I add a certain percent transaction fee for each sale of my token?
For doing it, you should own your own DEX platform. Now you can add a % of the gas fee for buying & selling.
How do I Burn BEP20 tokens?
Burning of tokens can be done by executing the Burn function. Once after a function is enabled token burning can be done straight away at BSCSCAN.
How do my token holders stake my BEP20 tokens for profit?
Ensure BSC node is running on your hosting. Based on the logic built for staking allow the token holders to stake your BEP-20 tokens.
Source: Fast & Clean
I hope you liked this post, if you like to extend your business by creating a BEP-20 token like that is encomposed with BEP-20 token standards, then Sellbitbuy will support you.
Why Sellbitbuy for BEP20 Token Development?
Sellbitbuy - A world-famous token development company offers quick solutions for creating a token for various token standards like BEP-20 token standards, ERC-20 token development standards & more. We have an experienced set of team who are specialized in building tokens for various blockchains.
Our team has 7+ years of industry experience who frequently upgrades to offer the best token development services, crypto & DeFi exchange development services, NFT marketplace development services, and so on.
Once who wish to grow your business in the crypto & blockchain field can approach our team. A great customer support and development service are offered to you at an affordable price. Enquire our team if you have a query!
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