Ever since the introduction of ICO, it has been the fancy way to raise funds for startups and innovative projects. The main element of the ICO is the token, which represents the share of the project or the company like a promissory note for investment. The token is build according to standards defined by popular Blockchains like Ethereum, BNB chain, Tron, etc with the base of smart contracts.
Among those top-tier standards in the marketplace, the BEP20 token standard is one of the most suitable picks for the ICO. Because it is build with demanding features and has extensive acknowledgment around the world. This BEP20 token standard is introduced by the Binance smart chain which has become the BNB chain in early 2022 to make the BNB currency reach its true potential and govern the different financial interests of the people.
After the BNB chain defined its token standard as suitable for different applications, the fame of the BEP20 token increased. And it leads many startups to choose BEP20 token development for their ICOs. Now, As a startup, You might wonder, what makes the BEP20 token standard a suitable choice for a successful ICO.
This article will help you to know about the benefits to create BEP20 tokens in the ICO. First, let us start with…
What are BEP20 Tokens and how it works?
The BEP20 is a token standard representing the wide range of crypto assets on the BNB chain. The BEP20 standards define the set of standards to develop and use a token. It provides a framework for developers to develop a token compatible with the BNB network. The standard defines the functionalities like token transfer, and token approval so they can be used on the third-party chains and the transfer between sub-networks of the BNB chain.
These tokens are easier to launch and are developed to be compatible with both the BEP2 Binance token and the ERC20 token. The BNB network also offers Peggy coins that are pegged to the other crypto asset and their value remains close to the original crypto assets. so that they can be used by traders in the DApp applications.
This ease of working and compatibility function of BEP20 tokens has made the startup create BEP20 tokens. Some of the popular BEP20 Tokens are,
Popular BEP20 Tokens
In the market are…
These are popular tokens residing in the market. Each token is a highlight of their respective ecosystems that can be used in trading and earning money. Due to this adaptability of the BEP20 tokens, the demand for BEP20 token development for various use cases has been raised. Hence Now, let’s see what is…
BEP20 Token Development
BEP20 token development is the process of creating an exclusive BEP20 token with the essential features and functionalities to fulfill the purpose of the token. The process starts with designing, then development, and ends with deployment. The token development will be done with utmost consideration to work better for its application. And these BEP20 tokens are applicable in all places where secured and automated transactions are needed in the virtual space.
Applications of BEP20 Token Development
De-Fi: Token ownership is needed for entrepreneurs who are starting crypto businesses in the De-Fi. Because it is a new and still growing domain in the crypto space, Most startups are striving to make a place for themselves in this sphere.
ICO: It is the most important application of the BEP 20 token development where companies will present their shares in the form of tokens along with the white paper to the public for investment. If the project gets successful, both the company and investors can make money. Hence, the Initial coin offering is a most sought-after application of tokens.
Out of these applications, ICO has been the place that demanded BEP20 token development at all times. And there are genuine reasons that prove – ” why BEP20 is demanded by most of the startups for ICO? “
Let’s see that…
Why BEP20 token development is a phenomenal choice for ICO?
The Beneficial reasons to conduct an ICO campaign with a BEP20 token are listed below.
The popularity of its native Blockchain
The first reason to create BEP20 tokens for ICO is that it runs under the BNB chain. It is also one of the foremost crypto ecosystems that run with higher market capitalization and trading volume. And importantly, it serves as an alternative to Ethereum Blockchain. If you create BEP20 tokens for your ICO, it shows you as a trustful and reliable project to the investors and will intrigue them to invest in your project.
Features of BEP20 token
Since BNB is a native coin of the BNB chain developed with the BEP20 standard, it is famous among crypto investors for its advantages to the end clients. Such as cross-chain similarity on third-party networks, marking BNB, and validator return advantages. Profit dividends and returns auditing are efficient in the smart contracts of BEP20 tokens. So that there will be no confusion in returning a profit to the investor for the investment period.
Cost-effective and Fast
These BEP tokens developed for the ICO have high scalability and feasibility to attract investors. Since it is created with the smart contract, the investment transactions are decentralized without intermediaries, fast, and highly transparent. It is also a high-performing token standard with advanced functions and the best business results.
The prime advantage of the BEP20 token development is the transaction fee which s lesser than the Ethereum platform. So it encourages hassle-free and cost-effective transactions between investors and owners.
BEP20 tokens has extensive acknowledgment of crossing borders and are suitable in various use cases. The BEP20 token is both native-compatible and Ethereum-compatible. It is compatible with both BEP2 and ERC20 tokens because it is build on the cross-chain infrastructure. Also, the BEP20 token supports almost all Ethereum tools and DApps and can be stored in all popular wallets like metamask.
Rules the current market trend
To stay on trend and with a desire to have more users in their network, the BNB chain always adds different aspects to their network to keep the network a more engaging platform for users.
Binance being a constant game changer, the BEP20 token has major control over traders and investors. Finally, because of these advantages, the BEP20 token has become a high-circulatory token and a suitable choice to integrate into the ICO campaign.
Suitable for Global ICO campaign
Binance uses a Proof of stake mechanism which is a better consensus mechanism compared to the one used by the other blockchains. Proof of stake can handle more transactions and the algorithm of PoS uses 21 validators that create a block for every 3 seconds.
Due to these immense benefits, startups always create BEP20 tokens for their ICO event. Therefore, as a startup, If you create BEP20 tokens for your business, the global reach and the best investment result is promiseable.
Possible Ways to create BEP20 Tokens
The BEP20 token have an In-built option offered in the BNB chain. The only thing you have to do is integrate the smart contract with the token generator. A smart contract can be coded with solidity and it has to develop with utmost care.
As a startup, if you excel in that language, you can develop it on your own by implementing code on the BNB chain. If you are not proficient in programming languages, it might lead to severe difficulties in launching a token. Therefore, it is always better to hire a top-tier BEP20 token development company like Zab technologies. We will do well in creating authentic and reliable BEP20 tokens. Also, we do an error-free token development with essential features according to the business structure.
Besides these advantages, there are other reasons…
Why you should choose ZAB Technologies for BEP20 Token Development?
Zab Technologies is a leading BEP20 token development company in the blockchain industry. We offer incredible services on BEP20 token development with extraordinary features at an inexpensive cost. The end product of our BEP20 token development will be finely coded and well-developed to be suitable for different kinds of businesses. Also, we have experts who can develop customizable products with advanced in-built options. If you are a Business person who wants to create BEP20 tokens for your business.
Connect with our team experts and start your successful business journey with Zab technologies.