Blockchain is a prominent and emerging technology since the introduction of crypto coins and crypto tokens. This technology gave birth to many new crypto tokens and made them become popular in the global crypto marketplace. Besides, this technology is implemented in many sectors for increasing trust, security, privacy, transparency, and reducing human work by tracking functionality. Industries like banking, finance, insurance, supply chain management, healthcare, and more sectors use blockchain technology for different aspects. Blockchain technology is the required one for creating a secure crypto token.
There are many open-source blockchain platforms for crypto token creation. Among them, the Binance smart chain is the popular and trending blockchain platform among crypto startups and entrepreneurs. The Binance Smart Chain is the next version or an update of the existing binance chain platform. This blockchain was developed with dual-chain architecture. It helps the developers to create and deploy smart contract-based Dapps. That’s why the binance smart chain is suited to serve as a new stage for DeFi protocols.
Like the Ethereum network, the binance smart chain also has some token standards for crypto token development, smart contract development, dapp development, etc. BEP20 and BEP721 are prominent token standards among traders, investors, and startups. In recent times, BEP20 tokens are trending in the marketplace and many startups are willing to create them by using the binance smart chain network.
In this article, let us discuss how to develop the BEP20 tokens and other factors regarding BEP20 token development services.
What is a BEP20 Token?
BEP20 is a technical standard in the binance smart chain network and the tokens which are created using this powerful standard are called BEP20 tokens. It is the fastest token standard that is used to create smart contracts, tokens, and decentralized applications. This standard was first introduced by the binance DEX which is a prominent trading platform in the crypto space. The introduction of the BEP20 token standard in the marketplace has created heavy competition with ERC20 tokens.
The BSC network enables blockchain developers to create crypto tokens in a simple and user-friendly manner. In other words, the BEP20 token standard is an extension of Ethereum’s ERC20 token standard. This standard has information on who can spend the tokens and it is a flexible token standard. So developers can easily create a wide range of BEP20 tokens.
The BEP20 token standard will provide basic functionalities for the token. Such as transferring, returning a balance, token ownership, and more. Buyers can swap BEP20 tokens with the normal BEP2 tokens. All token transactions that take place with these BEP20 tokens on the Binance smart chain will require a fee and it will be in BNB. In addition to this, the BEP20 standard can be used to develop a native token or a pegged token. That’s why there is a great demand for the best BEP20 token development service.
Best BEP20 Tokens in the Global Marketplace
Currently, there are many BEP20 standard tokens in the crypto market but only a few tokens are prominent among the traders and investors. Here is the list of top BEP20 tokens that are prevailing in the blockchain industry.
BUSD
CAKE
BAKE
SAFE MOON
C.R.E.A.M
SXP
ALPHA
WBNB
BUX
BURGER
These are the popular BEP20 tokens in the global crypto marketplace.
Advantages of BEP20 Tokens
Collateralized
Matchless Efficacy
Issuance
Staking
Inclusiveness
Validated
Utility
Scalability
Decentralized
Easy Creation
Safe Structure
How to Develop a BEP20 Token by Using Binance Smart Chain?
Creating a BEP20 token is a new revenue-generating blockchain business idea in the industry. While developing a BEP20 token by using the binance smart chain, you must consider some essential parameters. Here I shared some of the factors that one must take into account when it comes to the BEP20 token development process.
Token name
Token symbol
Token decimal place
Token supply
Token features
BalanceOf
For developing a secure BEP20 token, you can get in touch with a professional BEP20 token development company in the blockchain industry. They will help you in creating and launching a fully functional BEP20 token with outstanding features at an affordable cost. Their blockchain development team will assist you right from token ideation to deployment. The BEP20 token development process involves some of the important steps. Such as
Research and Discovery
Planning
Design
Development
Testing and Deployment
Post-Deployment and Maintenance
The above-mentioned steps are the standard procedure that comes under the best BEP20 token development.
Ultimate Features of BEP20 Token Development
Here I list some of the extraordinary features that you can get in the best BEP20 token development service.
Completely Decentralized
Interoperable with other frameworks
Smart Contracts Implementation
BEP20 Compliant
Ownership rights
Role-based access
Verified Source Code
Token minting and burning
Details of the token
Customizable decimals
Supply Type
Access Type
Burnable
Cross-matching with BEP2
Dual Chain Architecture
You can get all these features when you choose the finest BEP20 token development company in the marketplace. With all these features, the cost of developing a BEP20 token will be around $2K - $5k. However, the BEP20 token development cost might vary according to your business concepts and urgent needs.
Wrapping up
As we can see a huge demand for BEP20 token development services in recent months. So many new BEP20 tokens will be making their way into the blockchain industry. If you are a person willing to create and deploy BEP20 tokens on the Binance Smart Chain network, then you can hire experienced and efficient blockchain developers from the reputed BEP20 token development company. Thus, get in touch with them to create your own BEP20 tokens at the best price in the marketplace.