A BNB Smart Chain token standard that is characteristically used with regards to non-fungible tokens (NFTs).

BEP-721 is a token standard on BNB Smart Chain designed for the express purpose of creating and managing non-fungible tokens (NFTs). The token parallels BEP-20 in the sense that it is also the product of modifications of the NFT-styled token standard of the Ethereum blockchain, ERC-721. Furthermore, BEP-721 mirrors the property of uniqueness of NFTs in that every token created with BEP-721 has an exclusive token ID.

Despite the apparently fixed usability of BEP-721, the token standard also has a representative value and can effectively be used in place of NFT collectibles because of the uniqueness of each of its token IDs.

A financial statistic and standard used to measure the sensitivity of an asset parallel to its market.

A beta coefficient is used together with benchmarks to determine how sensitive a particular asset is to changes in market conditions. The coefficient ordinarily measures volatility but is more applicable for assessing the influence that a specific portfolio or market characteristic (price, especially) has on the value of an asset. Thus, it can show the extent to which market conditions and portfolios prompt changes (and how much changes) in the price and valuation of an asset.

The beta coefficient for an asset Z may be positive or negative relative to the market, which would mean that the value of the asset respectively mirrors market conditions or reacts contrary to these conditions. Also, the coefficient can only range between 0 and 1 with 0 indicating no relationship and 1 indicating a perfect association.

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.

BEP-721

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