In the modern era, technology paves a way for global users to attain profits in a compatible routine. The crypto platform with the advent of blockchain technology has created a better platform for common audiences for revenue generation.
Crypto token creation is a trending and frequently carried out business activity in the crypto space. Crypto tokens hold a value that can be widely used for transactions and trading the crypto market. Moreover, the value of tokens differ based on the aspect of market requirements and domain. Tokens are commonly preferred for buying digital stuff,Trading and more. For instance, NFT is trending business progress in the crypto network where the user can invest in tokens in the form of art, music, etc. Furthermore, crypto tokens are essential to facilitate the token sale activities.
In general, crypto tokens have a prominent value in the crypto market and due to its properties it has been preferred by the massive crypto users. The crypto tokens are generated on the blockchain by implementing a solidity (code) to create and deploy a token using smart contract. The renowned blockchain in the crypto ecosystem includes Ethereum, Tron and Binance smartchain, etc. Among these open source blockchain the Binance smartchain is an emerging blockchain.
Introduction To Binance Smart Chain
As mentioned before, Binance smart chain (BSC) is an open source blockchain launched by Binance a popular crypto exchange in April 2019. The Binance smart chain has been introduced into the crypto ecosystem with the aim of supporting compatibility and flexibility on a fine range.
Binance smartchain comprises a dual chain architecture that allows a user to transfer an asset from one blockchain to another in a seamless mechanism. The Binance smartchain is compatible with Ethereum virtual machine (EVM) and follows a proof of stake consensus mechanism for validation.
Eminence of Binance Smart Chain
- Transaction speed
Binance smart chain is one of the flexible and fastest blockchain that has the potency to manage an average of 100 transactions per second. Blocks are generated in the blockchain for every three seconds which is comparatively faster than Ethereum blockchain.
- Cross chain compatibility
The Binance smart chain comprises a Dual chain architecture and supports an Ethereum virtual Machine (EVM) thereby providing access to developers and users to implement solidity on EVM for smart contract creation, DApps etc. Cross chain platform feature is faster to execute DApps on BSC, to import the port from Ethereum blockchain for projects.
- Low gas fees
In comparison to Ethereum blockchain, the gas fee structure is affordable in Binance Smart Chain. However, BSC turns out to be a convenient option for users to run DApps at an affordable cost rather than Ethereum blockchain.
- Best platform for token development
Binance smart chain has been launched by Binance a popular exchange platform. Once the tokens are created on the BSC then it is absolutely compatible for users to list the tokens on exchange in a hassle free manner. The credibility and feasibility factor are achieved on the right measure by using the Binance smart chain for token development.
What is the BEP20 token?
BEP20 token is a crypto token that can be created on Binance smart chain (BSC). BEP20 token standard is a protocol which is pre-defined in the BSC. By using the BEP20 token standard, the BEP20 token can be generated as per the user requirements. To make it more clear, Ethereum supports an ERC20 token standard for token creation including smart contracts, Dapps, etc. similarly, BSC supports an BEP20 token standard for token creation.
BEP20 token is actually a fungible token which is mutable in nature, that is it can be interchanged. The crypto tokens that have fungible characteristics can be effective for trading in the crypto market.
How To Create a BEP20 Token For Business?
In common, the BEP20 token can be created on the blockchain in an elegant method using solidity (programming language). There are two dimensional ways to create your own BEP20 token. If you have good solidity programming skills you can develop your own token by implementing the code on the Binance smart chain. The tokens can be developed in various programming languages. Whereas, solidity is a most commonly preferred language for token development.
Before creating a token on Binance smart chain, it is essential to focus on the factors to be considered for token creation. The listed elements below are required to create a token, therefore make sure to follow the steps
- Token name
- Token symbol
- Token decimal place
- Token supply
- Token features
- BalanceOf function
- Transfer event function
The above mentioned elements might be helpful for you to develop a token. In case, if you feel it is a tedious process to create a token. An alternative solution is available, a skilled team of professionals assist you in developing a crypto token as per your business requirements.
However, before approaching a service provider it is important to consider the following process.
- Research crypto market trend
- To select a blockchain and it’s token standard
- Crypto wallet development
- Token development
- Testing and deployment
The mentioned factors above are the common methodologies to be followed to create a crypto token.
Top Features of BEP20 Token Development
Crypto token features are the crucial factor to look up for token creation. In fact, the features of BEP20 token improves the credibility of your token for effectual trading. Prerequisite of BEP20 token development includes.
- BEP20 complaint
- Smart contract implementation
- Verify source code
- Mintable and Burnable features
- Supply Type
- Access Type
- Customizable decimal
- Faster transactions
- Token compatibility
- Ownership rights
- Easy listing on exchange platform
- Cross platform support and more.
Beneficial aspects of creating a BEP20 token
- As per the current scenario in the crypto market, Binance smart chain is an emerging blockchain therefore you can create a BEP20 token to indulge in crypto trading.
- Cross chain compatibility is a prior reason to create a BEP20 token, wrapping up a non naive tokens in the blockchain adds a value to it which automatically increases its utility.
- BEP20 token is a fungible token that holds the similar properties of ERC20 token and due to the cross platform functionality it is compatible with the Ethereum blockchain.
- Tokens can be swapped with BEP2 – Naive token of Binance smart chain.
- Tokens supported in other blockchains can be pegged in BEP20 tokens using a Peggy coin.
- The BEP20 token is a utility token that can be used in a popular crypto crowdfunding platform like ICO in order to raise funds for your business projects.
- BEP20 token standard has a high scalability feature that affords the best results for users to create a large amount of tokens in a short time.
- Transactions can be done with greater transparency which automatically results in reliable trading.
- Trust wallet supports all BEP20 token standards, therefore crypto wallet extension is applicable for BEP20 tokens.
Take a moment to explore the valid specifications of Binance BEP20 token standard and initiate your token creation process.
Why To Prefer Crypto Ape For BEP20 Token Development?
Crypto Ape is a leading Crypto token development service provider in the crypto industry. We provide fine class services for crypto token development on major blockchain platforms including Ethereum, Tron and Binance smartchain. Being a reputed service provider we afford quality services in developing blockchain softwares such as cryptocurrency exchange, crypto payment gateway development, ICO and STO development services. We have a team of blockchain experts to develop crypto products with cutting edge technologies comprising s turdy technical features and customizable options to match your business requirements.
If you have a plan to create your own BEP20 token on Binance smartchain along with a crypto wallet, then choosing a Crypto Ape will be an ideal choice to develop your own crypto token.
Get a complete BEP20 token development service from Crypto Ape to attain best results in progressing your crypto business.