Why is BEP20 considered a popular standard for tokens in the cryptocurrency market?

3 answers

• May 01, 2022 · 3 years ago
  BEP20 is considered a popular standard for tokens in the cryptocurrency market due to its compatibility with the Binance Smart Chain (BSC) network. This allows tokens built on the BEP20 standard to benefit from the extensive ecosystem and user base of BSC, which is one of the largest and most active blockchain networks. Additionally, BEP20 tokens can be easily listed on Binance, one of the leading cryptocurrency exchanges, further enhancing their visibility and liquidity in the market.
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• May 01, 2022 · 3 years ago
  BEP20 has gained popularity in the cryptocurrency market because of its simplicity and ease of use. The BEP20 standard provides a clear and well-defined set of rules for token creation and functionality, making it easier for developers to create and deploy tokens on the Binance Smart Chain. This simplicity attracts both experienced developers and newcomers to the cryptocurrency space, contributing to the widespread adoption of BEP20 tokens.
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• May 01, 2022 · 3 years ago
  BEP20 has become a popular standard for tokens in the cryptocurrency market, primarily because of its association with the Binance ecosystem. Binance, being one of the largest and most reputable cryptocurrency exchanges, has a significant influence on the market. By choosing to build tokens on the BEP20 standard, projects can leverage Binance's brand recognition and user base, which can greatly enhance their token's visibility and credibility. This association with a trusted and established platform like Binance plays a crucial role in the popularity of BEP20 tokens.
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