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BEP-2

BEP-2 or Binance Chain Evolution Proposal 2 is a technical standard used for the issuance and implementation of tokens on the . This standard defines a set of rules that tokens should follow to function in the BNB Beacon Chain ecosystem. [1]

Overview

BEP-2 was launched in 2019. The standard is not software but a set of technical specifications that defines a set of rules that tokens should follow to function in the ecosystem. Before the Binance chain, BNB was built on the , where most tokens are built, using the standard. With the Binance Сhain transition, the native token was recreated based on the BEP-2 standard. [1][2]

While the Binance Chain is optimized for ultra-fast trading, it has a sister chain, Binance Smart Chain (BSC) that is focused on running smart contacts and decentralized applications without congesting the original chain. Because of this dual-chain architecture, BEP-2 tokens can be easily swapped for their equivalent.[4]

BEP-2 tokens are tradable assets that can be traded on , a decentralized exchange running on top of . They can also be held in a wallet similar to , and are subject to similar rules about gas and transfer fees. [2]

Utility

BEP-2 standard can be utilized to create native tokens. can issue the tokens for fundraising, and businesses can digitize real-world assets, such as commodities or real estate, through tokenization. Additionally, BEP-2 tokens serve as a means of exchange, enabling users to trade and access various services within the ecosystem. [3]

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BEP-2

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