How to Develop a BEP20 Token on Binance Smart Chain

What is Binance Smart Chain?

Binance Smart Chain, or BSC for short, is a blockchain network of the Chinese trading platform Binance. The network is particularly suitable for running applications based on smart contracts.

Binance Smart Chain is a new platform that aims to lower transaction costs and provide a space to create DApps and other DeFi products.

Some of the attributes of BSC:

1- Independent blockchain

2- Ethereum compatible

3- Supports staking and community-based governance

4- Native interoperability

Binance coin(BNB):

The native utility coin of the Binance ecosystem, BNB, can be used for both BSC and BC. BNB is primarily used to pay for staking, asset transfers, and transaction fees on the BC and Binance DEX platforms. Smart contracts can also be run on BSC using BNB.

Other supported tokens:-

Both BC and BSC support BEP2 and the future BEP8 standards. The BSC blockchain supports ERC-20 tokens, also known as BEP2E tokens in the network. Simply by adding more identifiers to an asset, such as the token denomination, owner address, and decimal precision definition, among others, it is possible to further "enhance" ERC-20 tokens on the platform. "Token binding" is the name of this procedure.

What is the BEP-20 token?

BEP-20 token is a token standard to develop tokens on Binance Smart Chain.

Code to develop a BEP-20 token on Binance Smart Chain:-

// SPDX-License-Identifier: MIT

pragma solidity ^0.8.4;

import "@openzeppelin/contracts/token/ERC20/ERC20.sol";

import "@openzeppelin/contracts/token/ERC20/extensions/ERC20Burnable.sol";

import "@openzeppelin/contracts/access/Ownable.sol";

contract MyToken is ERC20, ERC20Burnable, Ownable {

constructor() ERC20("MyToken", "MTK") {}

function mint(address to, uint256 amount) public onlyOwner {

_mint(to, amount);