Binance Smart Chain (BSC) is a blockchain that supports smart contracts and is EVM-compatible. It serves as an ideal blockchain for building decentralized applications. Just like Ether is used to pay the gas fees in the Ethereum blockchain, BNB is used in the BSC blockchain to pay the transactional fees.
BEP-20 token standard is an extension of the ERC-20 standard on the Ethereum blockchain. This makes it possible to build decentralized applications on the BSC blockchain with the help of Ethereum tools.
BEP20 provides the basic framework necessary for BEP20 token development.
The BEP20 standard ensures the functionalities of the tokens in the BSC chain such as returning a balance, viewing token ownership, etc.
Before you get into BEP 20 token development, you must understand and know what kind of requirements you have, and let your BEP20 token development company know about the same.
Here are the things you need to consider :
Choosing the capped token does not allow you to have any more tokens than the ones you capped. This ensures that people will not generate tokens other than declared.
Generate tokens by simply minting them. Sure, only the owners will be able to mint them. Add disable minting if you decide not to generate any more tokens.
The tokens you generate can be burnt. It ensures that you can easily choose to reduce the supply by destroying a few of your tokens.
The token generated will have a designated owner. And, only the owner will be able to mint new tokens or to call finish to the minting function.
Your token will have roles where you can add or remove ADMIN or MINTER roles as you want to address them. Of course, your token will be ownable too.
This operable token will be a BEP20 compatible token to make a call back on the receiver contract for notifying the token transfers or token approvals.
Multiple tokens have been lost forever in the Smart Contracts. Token recovery will help you recover any BEP20 token sent into the contract for error.
Once you know what your token requirements are, your BEP20 token development journey becomes smooth.
The process to create a BEP20 token involves various things – such as creating the token, creating the smart contract for token distribution, and more. Therefore, it is advisable to hire a professional BEP20 token development company with the necessary skills and experience required to create the tokens without any error or failure.
At Antier Solutions, we offer customized BEP20 token development services that are aligned with your business needs to help you accomplish your business goals. Our blockchain engineers devise a coherent roadmap to navigate and accelerate your development journey.
Schedule a free demo of one of our token development projects or connect with our subject matter experts to share your needs for BEP20 token development.
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