BEP-20

BEP-20 is the token standard used on the BNB Smart Chain (formerly Binance Smart Chain). It is functionally similar to ERC-20 on Ethereum, defining how tokens can be created, transferred, and approved within the BNB ecosystem. BEP-20 tokens benefit from lower transaction fees and faster block times compared to their Ethereum equivalents, making the standard popular for DeFi applications and token launches.