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BEP20 vs ERC20 vs BEP2: Which Is the Best?

Vitaliy Basiuk
Alissa Adams
Editor Fact checked
March 24, 2023 | UPD: June 10, 2024 | 10 mins min. reading | 603
BEP20 vs ERC20 vs BEP2

BEP20 vs ERC20 vs BEP2

The crypto market is thriving today, creating excellent opportunities for those who’ve decided to tap into the crypto world. Among the multiple ways to capitalize on crypto, token development looks especially promising. If you’re considering token development, this guide is for you. It explores and compares the most popular token standards and more. Let’s get down to business.

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BEP20 vs BEP2 vs ERC20 FAQ

What is a token standard?

A token standard is a set of rules determining how a token will operate on a particular network. It contains technical specifications, such as the programming language used to run the token, and business rules, such as the specific functions of the token.

What does BEP20 mean?

In a nutshell, BEP20 can be defined as a token standard on the BNB Smart Chain (BSC) that extends ERC20, the most common Ethereum blockchain token standard. It’s a set of rules for using tokens. The acronym BEP stands for Binance Smart Chain Evolution Proposal. BEP20 is designed to be compatible with both BEP2 and ERC20 standards, ensuring compatibility with the Ethereum Virtual Machine.

Is BEP20 the same as BSC?

No. You can’t compare BEP20 vs BSC since they refer to different things. BSC is a blockchain dedicated to running smart contracts while BEP20 is a token standard that is used for creating tokens on the BSC blockchain. Likewise, you can’t compare ERC20 vs BSC or BEP2 vs BSC, since ERC20 and BEP2 are token standards while BSC is a blockchain.

BSC vs ERC20: What’s the difference?

You can’t compare or choose between ERC20 or BSC because they mean quite different things. BSC, rebranded as the BNB Chain in February 2022, is a blockchain network designed for running smart-contract-based applications. ERC20 is a token standard that governs blockchain tokens on the Ethereum network.

Written by
Vitaliy Basiuk
CEO & Founder

Written by Vitaliy Basiuk
CEO & Founder at EvaCodes | Blockchain Enthusiast | Providing software development solutions in the blockchain industry

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