In the world of blockchain, almost everyone knows about crypto tokens. If not, let us have a small overview of tokens. A crypto token is a digital asset that has a utility or asset-backed value and can be used for various purposes. Like business, trading, raising funds, payments, paying for own services, etc. since the introduction of crypto tokens in the marketplace, many people are using tokens in different aspects and that made tokens reach a great place in the blockchain industry. Crypto tokens can be usually developed under the existing blockchain like Ethereum, Tron, EOS, waves, Binance smart chain, etc. The common connectivity between these blockchains is – they are an open-source blockchain platform.
Among those blockchain platforms, the binance smart chain is gaining popularity in the blockchain industry. Because we know that binance is the world’s popular cryptocurrency exchange platform with massive trading volume and millions of active users. They have introduced the open-source blockchain platform named binance chain for binance DEX. The primary motto of the binance chain was to perform faster transactions in a hassle-free manner and it is specially developed for binance DEX. it helps you create, send, receive, and mint a token on its blockchain.
The binance brings a new blockchain business opportunity for startups and entrepreneurs who are looking to raise funds and gain popularity in the marketplace. This blockchain offers a quick token transaction facility so if you compare the performance of the binance chain with other blockchain platforms. Then, the binance chain will be the fastest blockchain right now. By using the Binance chain, one can create their own BEP2 crypto token. At this current time, we can see a great hype on Binance smart chain and BEP20 token development. The hype made a great demand for the best BEP20 token development in the blockchain space.
If you aren’t aware of the binance smart chain and BEP20 tokens, then this article will be helpful for kickstarting the BEP20 token business. This article covers all the essential factors of binance smart chain and BEP20 token development.
Without wasting our time, let us begin this mind-blowing article with…
What is a Binance Smart Chain?
Binance first introduced a binance chain in the marketplace which is used to create BEP2 crypto tokens. Later on, as an update of the existing blockchain ‘Binance chain,’ they have introduced the binance smart chain in the blockchain marketplace. Binance smart chain runs parallel to the binance chain and allows you to utilize the functionality of blockchain most finely. Besides, this blockchain platform helps you in understanding the independent working of Ethereum-based crypto tokens, Tron-based tokens, and other blockchain-powered crypto tokens.
By creating a BEP20 token and performing transactions on top of the binance smart chain, you can experience great efficiency in real-time. This blockchain platform completely works on the consensus algorithm. So it allows the users and owner of the token to verify & analyze each transaction. Binance smart chain is a newly introduced blockchain platform, so it supports cutting-edge functions like metamask & Defi with its structure.
As everyone knows that ethereum and Tron are open-source blockchains and it allows anyone to develop the tokens and smart contracts under their respective blockchain. Likewise, in binance smart chains, developers can easily develop smart contracts, dapps, and crypto tokens. The major benefit of using the binance smart chain is you can get more compatible functionalities. The features that you get from the binance smart chain will help you to broaden your private network.
The binance smart chain helps to develop an ecosystem. So here token holders, developers, and users get benefits from a rewarding blockchain and it can provide better performance. That’s why there is huge popularity over the binance smart chains in the marketplace.
What is a BEP20 Token?
BEP20 is a kind of token standard which comes under the binance smart chain. This standard is the powerful and fastest token standard in the crypto marketplace. BEP20 token is an update of BEP2 tokens. By using standard, one can develop a crypto token which is known as BEP20 tokens. Besides, this standard is also used to create Dapps, smart contracts, and more. These tokens were introduced during the time of the NFT. BEP20 tokens are mostly used by decentralized crypto sites and swap sites. Such as Pancakeswap, Uniswap, sushi swap, and more for swapping & pooling purposes. These tokens can also be converted into NFT by using the Binance blockchain.
Like BEP2 crypto tokens under the Binance Chain, BEP20 token transfers are completely fueled with BNB. Also, they will collect the BNB coin as a fee for their troubles and trading. BEP20 standard tokens have specialized technical features and the primary aim of this token is to offer a flexible format for token developers to develop and deploy several BEP20 tokens on the Binance Smart Chain.
Presently, the Trust wallet from binance supports all BEP20 standard tokens. Thus, it will be easy for users to withdraw, store, and receive. As previously said, BEP20 token transactions are faster when compared to other standard tokens in the blockchain space. That’s why there is hype for BEP20 crypto tokens in the global blockchain marketplace. By seeing the hype and popularity of BEP20 tokens, many crypto startups and entrepreneurs showed interest in creating a BEP20 token under the binance smart chain.
Notable Reasons to Create BEP20 Token
As we know, BEP20 tokens are grabbing the attention of millions of users and gaining prominence in all parts of the world. So it can be considered as a major reason for developing a BEP20 token for your business. But there are also many reasons for creating a BEP20 token. Here we list some of the noteworthy reasons that you must know before creating a BEP20 token under the binance smart chain.
- Binance smart chain platform and BEP20 tokens are trendy ones right now. Thus, by developing a feature-packed BEP20 standard token, you can enter into the blockchain marketplace quickly and raise funds easily and without any trouble.
- The binance smart chain works for offering the best experience for the users. Also, it assists them in achieving better results in a short time.
- The BEP20 standard tokens are far similar to the BEP2 token and ERC20 standard tokens. So developing your own BEP20 token will be compatible with both Ethereum and binance chain platforms.
- Both the BEP2 and BEP20 tokens are generated under the binance blockchain so BEP2 can be easily swapped with BEP20 equivalent
- The binance smart chain structure will help you overcome all issues that are usually faced by the platform proprietors. When you compare this structure with other structures, you can find this blockchain platform environment more compatible with some additional solutions. Such as metamask, end-to-end encryption, etc.
- Binance smart chain is recognized as a secure blockchain platform. Besides, the high-end security standards that you get with the binance smart chain are more effective.
- Your BEP20 tokens can smoothly take the transaction to the next level and perform securely in a hassle-free manner.
- If you want to create bulk tokens in a minimum period, then the BEP20 token standard provides you the finest business results. So it brings a high level of feasibility.
- BEP20 standard token will let you create tokens at a low cost. Because it requires only a low amount of gas.
- As of now, the trust wallet app supports all the BEP20 standard tokens. so if you develop a BEP20 token under binance smart chain, then users can easily receive, store, and transfer globally.
- BEP20 token trading will be reliable with high transparency and the token transaction will be quick.
- Another major reason to invest in BEP20 token development is it Supports ethereum tools, dapps, and creates the staking mechanism for BNB. Binance blockchain ecosystem makes room for DeFi and it helps to become more scalable.
These are major reasons for creating a BEP20 token under the binance smart chain platform. Now, let us figure it out…
How to Create a BEP20 Token For Business?
If you are starting a BEP20 token business, then you are on the lucrative business side. So, how to create a BEP20 token? Creating a BEP20 token is not a hard task in this modern era. When it comes to BEP20 token creation, there are two easy and possible ways.
Firstly, if you have deep knowledge about binance smart chain platforms and blockchain coding skills. Generally, crypto tokens are created in various programming languages. But among them, Solidity language is used as a programming language when it comes to the BEP20 token development. So if you have strong skills in Solidity, then you can develop your own BEP20 token on Binance Smart Chain by yourself. But before starting your BEP20 token business, you need to have an outstanding business requirement. Also, you must determine the purpose of launching your BEP20 crypto token.
While creating a BEP20 token, you must consider some important factors. Here is the list of elements that you must consider when it comes to BEP20 token development.
- Token name
- Token symbol
- Token decimal place
- Token supply
- Token features
Secondly, you can pick a top-rated BEP20 token development company in the blockchain space. One such crypto token development company is Zab Technologies. We will assist you to create a fully functional BEP20 standard token with salient features at a reasonable price. Our BEP20 token development team will help you right from token ideation to deployment. We follow some standard procedures in our BEP20 token development service and that involves the following steps.
- Research and Discovery
- Testing and Deployment
- Post-Deployment and Maintenance
The above-mentioned steps are the standard procedure that our token development team will follow to create a secure BEP20 token for your business.
Desirable Features of BEP20 Token Development
Here is the list of advanced features that we integrate into our BEP20 token development service.
- Completely Decentralized
- Interoperable with other frameworks
- Smart Contracts Implementation
- BEP20 Compliant
- Verified Source Code
- Details of the token
- Customizable decimals
- Supply Type
- Access Type
- Cross-matching with BEP2
- Dual Chain Architecture and more
By approaching our BEP20 token development service, you can get all these above-mentioned outstanding features in your BEP20 token.
How Much Does it Cost to Create a BEP20 Token?
The cost of BEP20 token creation will depend on some important factors. Here we list the essential factors that shape the BEP20 token development cost.
- Business type
- Features of token
- The design of the token
- Number of BEP20 tokens to be created
- The complexity of your token project
- Location and Size of the BEP20 token development team
- Ongoing support and maintenance
These above-mentioned elements will decide your BEP20 token creation cost. We can not predict the exact cost of creating a BEP20 token. But we can say the range, the cost of developing a BEP20 token will range from $5k to $6k. In case, you need a BEP20 token wallet mobile app for both Android and IOS along with your token. Then, the total cost of BEP20 token creation will range from $10k to $12k. However, the BEP20 token development cost might vary based on your business requirements and urgent needs.
Why Pick Zab Technologies For BEP20 Token Development?
Zab Technologies is the leading BEP20 token development company in the global marketplace. Being a pioneer in the blockchain space, we are specialized in offering all sorts of token development services for major blockchain platforms like Ethereum, Tron, and binance smart chains. We offer the best-in-class BEP20 token development service with extraordinary features at an affordable price. Along with your BEP20 token, we also provide a user- BEP20 token wallet app for both Android and IOS mobile devices. Zab technologies have a handful of skilled blockchain developers for creating a secure BEP20 token as per the clientele requirements. We also have a dedicated team for providing effective customer support through the internet.
If you are a startup or an entrepreneur willing to create a BEP20 token at a budget-friendly price. Then choosing Zab Technologies will be the ultimate solution for your BEP20 token business.