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);
}
}
How to use the Binance Smart Chain to deploy smart contracts:-
Steps to deploy BEP-20 token:-
1- Copy the code in the above box and paste it into a remix ide contract file.
2- Compile code using a suitable compiler.
3- Select the environment variable as 'injected provider-metamask'.
4- Connect with Metamask and deploy the contract by clicking on the deploy button and approving transactions from Metamask.
5- Make sure you have selected the correct Binance Smart Chain and that you have a faucet for the transaction to be executed.
November 21, 2024 at 11:29 am
Your comment is awaiting moderation.