In general, each token is a type of digital currency created with a specific blockchain. Many blockchains worldwide now support specific tokens with certain standards, such as ERC-20 tokens based exactly on Ethereum blockchain and BEP2 tokens based on Binance Chain blockchain standards. Similarly, there are differences between the two measures. In this article, we intend to examine the type of user access, transaction approval, and token delivery system for each.
Differences Between ERC-20 And BEP-2
In general, BEP-2 is a standard created after the ERC-20 standard by Ethereum and on the Binance Chain blockchain.
ERC-20 Standard
ERC is an acronym for Ethereum Request for Comment. To create a smart contract in Ethereum, you must follow the ERC-20 standards. Each smart contract is later used to develop a token or buy and sell it.
Among the most widely used Ethereum tokens are MKR and BAT.