Is BEP20 BSC? Detailed explanation of the difference between BEP20 and BSC

Speaking of BSC, it is a blockchain service that can use smart contracts to develop decentralized applications. It is an independent blockchain and can run even if Binance Chain is offline. While BEP20 is a platform that acts as a link between users and different blockchains, each cryptocurrency blockchain contains its own public address for storing and encrypting specific cryptocurrencies. It is very important to properly secure your BEP20 Binance Smart Chain wallet and prevent unauthorized access. Many investors tend to confuse these two concepts, so is BEP20 BSC? Let me explain the difference between BEP20 and BSC in detail.

Is BEP20 BSC?

BEP20 is not BSC, BSC or Binance Smart Chain is a network that supports smart contracts. This technology is used in conjunction with Binance Chain. Binance Smart Chain has infrastructure that can operate independently. This infrastructure will be in place if the Binance Chain servers shut down.

For developers, BSC looks and feels very similar to the ERC blockchain. The similarity lies in how Binance Smart Chain uses the same code base as Ethereum. However, the code has some changes and updated parameters in BSC. To users, BSC feels like the fastest and cheapest blockchain on the market. That it's fully operational and app-friendly only adds to the appeal of the web.

While BEP20 is the Binance Chain custody token standard, Bep-2 represents Binance Chain Evolution Proposal 2, which provides the basic technical token framework. Developers can use this framework to create tokens on Binance Chain. Just like following a complex recipe, it's always good to stick to existing token standards. This adherence to the specification ensures that each token will work with applications and wallets upon launch. Utilizing the dual-chain architecture between Binance Chain and Binance Smart Chain, native BNB tokens can be used to fuel Bep-2 and Bep-20 tokens.

How to create BEP20 tokens?

Part 1 - Get a Node

The first step requires you to find a node to connect to your MetaMask wallet. Once you get a node, you can connect to different blockchain networks. Open the node and you will see a list of endpoints and other available nodes. You can get a list of nodes such as Testnet nodes and Testnet archive nodes here. Select the Copy to Clipboard button on the testnet node and you can proceed to the next section.

Part 2 - Installing a Custom RCP

This step requires the MetaMask wallet. You can use the wallet to upload new tokens and access the tokens after launch. Now, click on the symbol and bring up the wallet. Now you can see the network list at the top. Go down and find the Custom RCP option. This option will provide a list of input fields. Enter the required details and continue.

Part 3 - Collect your BNB

The next step in creating Bep-20 tokens requires you to have some BNB tokens in your wallet. If you don't have one, then you can buy them from the mainnet.

Now, open the MetaMask wallet and copy the wallet address. You can copy the address by selecting the account name at the top. Paste the address into the field and select the Give me BNB option. This process will result in a drop-down option for 1 BNB. Select this option and wait a few moments. Now you see 1 BNB appearing in the MetaMask wallet. If it doesn't appear, it's better to check the RPC URL and stay connected to the BSC testnet.

Create Bep-20 Tokens

The most significant benefit of decentralized and open source software is the freedom to copy, paste and adjust the code. You can find the code for this process in OpenZeppelin. The platform is an open source organization that collates different token standards for developers to use. Since Bep-20 is similar to Erc-20, you can use the Erc-20 token standard code in this process.

Through the above detailed explanation of the difference between BEP20 and BSC, everyone can know whether this BEP20 is BSC. The world of blockchain is evolving rapidly, and it’s no exaggeration to say that what were once considered the technology’s most innovative features are now considered obsolete, and many businesses must keep up with this changing landscape if they want to survive. If you also plan to build your own BEP20 wallet, you can refer to the above. When building your own BEP20 wallet, make sure the device you install the wallet on is free of any malware, keep the device locked when not in use, and enable password protection on the app.

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