What is BEP-20?
The BEP-20 represents a token standard based on the Binance Smart Chain (BSC). The standard serves as an extension to the popular ERC-20 standard, which is the common token standard associated with Ethereum. It is also compatible with the BEP-2 standard because of their similarities.
The BEP-20 standard can be perceived as a blueprint for creating fungible tokens that run on the BSC. The standard defines how tokens can be spent, the rules about their usage, and who can spend the tokens. BEP-20 may be used by anyone who wants to develop a fungible token or digital currency on the Binance Smart Chain.