One of the most widely used token standards on BNB Smart Chain that is compatible with Ethereum’s ERC-20 token standard.
BEP-20 is the most popular token standard on Binance Smart Chain (BSC) because of its wide application and potential for cross-chain relevance. The token was designed as an improvement of the native token standard of the Ethereum blockchain, ERC-20, effectively increasing the performance of the latter, reducing transaction costs, and enabling trading and exchange across both blockchains. With BEP-20, users can not only create useful and flexible unique tokens but also formulate smart contracts to be used on a variety of blockchains.
The main advantage of using BEP-20 over other BSC token standards is its compatibility and scalability. As a result, it is considered one of the most efficient and flexible tokens on the blockchain with foreseeable wide-range cross-chain capabilities.