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A Complete Guide To SEP20 Tokens For Beginners

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Written by   84
1 month ago
Topics: SEP20, Guide, Information, Value, Market, ...

The world of cryptocurrency is a complicated one, and there are many facets to it. There are the currencies themselves, which have different strengths and weaknesses depending on their purpose.

There are the mining concepts that govern how new coins are created. And then there's the world of tokens -- digital assets that can represent anything from loyalty points to shares in a company or organization.

For newcomers to this space, it all seems like Greek! That's why am here today with a complete guide to SEP20 tokens for beginners: everything you need to know about these special kinds of cryptocurrencies so you can get started right now!

What Is An SEP20 Token?

Image Source: news.bitcoin.com

They are different kinds of tokens that exist in today's world of cryptocurrency but is one which is gaining popularity months after it's was announced called SEP20.

SEP stands for Smartbch Evolution Proposals and 20 is the number that was assigned to this request. These tokens all share certain common features which make them more versatile than other types of cryptocurrencies like bitcoin -- these features are outlined below!

Common ruleset: Since they're based upon the same code as Ethereum ERC20 all SEP20 tokens follow a very similar set of rules. This means that developers who build applications on top of Ethereum don't have to worry about compatibility issues when integrating their creations with SEP20( minor difficulties).

What Is So Special About SEP20 Tokens?

SEP20 tokens are more versatile than most of these currencies, however, since they all share certain features which make them different from other types of cryptocurrencies!

The primary difference is that SEP20-based currencies are exclusively designed to be used within the SmartBCH(Bitcoin Cash) ecosystem itself. Since every token follows a common set of rules it's much easier for developers who want to build apps or will be building apps on top of this technology to do so.

It also means that these applications will be compatible with any platform or device capable of running a SmartBCH node -- meaning they can be accessed by anyone in the world!

These factors, among others, have contributed to the rise in popularity of SEP20-this few months.

What Are Some Popular SEP20 Tokens?

SEP20 tokens are growing in popularity day by day, but there are currently only a small number of currencies that are on the SmartBCH chain at the time of writing.

Below are some of the popular SEP20 tokens;

EBEN: Also know as Green ben is the native and governance token of BenSwap.

Alpha(PHA): is a Native token for Alpha website ( alpha token website will be like coinlist.no where good Sep20 tokens with good project, will be listed for users to pre-order before they come out live and listed on exchange.) - Site is still in development

CashCats(CATS): Is a meme token for Cat Lovers.

Spice: is a social media appreciation token that connects online community content and encourages interaction...

ORB: is a basic token for playing Enter the Sphere and related games ( NFT metaverse ).

sBUSD: sBUSD token is a stable coined pegged to BUSD that aims to provide users, and other participants in the crypto ecosystem, a secure place to store wealth in exchange for other goods and services. sBUSD token is created with the intention to help traders prevent losses.

HODL: not much info

HONK: not much info

LAW: not much Info

As time goes on we can expect to see more and more SEP20 tokens become available for use; SmartBCH is still in its early years and it will take time before this technology becomes mainstream.

Thanks for reading!

It's important to note that the information in this article is based upon the My understanding of the code behind SEP20 tokens. Since it is an emerging technology, some details may need to be adjusted as SmartBCH evolves over time.

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Written by   84
1 month ago
Topics: SEP20, Guide, Information, Value, Market, ...
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Comments

The primary difference is that SEP20-based currencies are primarily designed to be used within the SmartBCH(Bitcoin Cash) ecosystem itself.

not primarily but exclusively. The SEP20 token can only be used in smartBCH network

ERC20 token are also designed to be used only in Ethereum network. You cannot use ERC20 tokens in any other network.

Since every token follows a common set of rules it's much easier for developers who want to build apps or will be building apps on top of this technology to do so.

The same applies to tokens in other networks.

meaning they can be accessed by anyone in the world!

This applies to all public networks, and these are 99.9 percent of all networks.

The main difference with the Ethereum network is the much lower gas fees and the ability to use more gas per minute.

$ 0.05
1 month ago

Thank you for the information

$ 0.00
1 month ago

Okay, I'm miffed at the spelling mistakes.

  1. ORB, not ORG
  2. Image has SEP2, should be SEP20
  3. HONK, not HOWK
  4. CashCats (CATS), not CashCat
$ 0.00
1 month ago

Yeah sorry I will fix it

Thank for alerting me

Post Updated

$ 0.00
1 month ago

Supplement the information of LAW: URL https://blockng.money, there are currently 2 pools that can directly pledge BCH or BCH-LAW LP to obtain income, and the overall return rate is still OK. But I don’t know why there are so few people on it? It is estimated that the project team is too low, and Twitter did not see them promoting it.

$ 0.00
1 month ago