BEP20 VS ERC20. Which should entrepreneurs prefer for ICO fundraising?
John Walder last edited by
In the advancement of many sectors, Businesses have also thrived. They cope up with new technologies to evolve further. When it comes to business, capital is a vital resource. Unlike traditional methods, crowdfunding is happening more efficiently with the advent of Initial coin offering (ICO). With ICO, it is easy to raise funds quickly and in a hassle-free manner. The ICO is a process that works by raising funds through investors in return for a utility token. These utility tokens are worth the value they've invested. For this, you should make sure that the token standard you develop for ICO is familiar to your investors.
BEP, ERC, and TRC are the most popular standards. Among these, BEP is preferable for its recent buzz in the market space. BEP20 is a fungible token standard built in the Binance Smart Chain, and it has carved its path to the top in the marketplace.
This BEP20 token standard is similar to the ERC20 token standard. Although the ERC20 token is quite familiar among users, BEP20 has plenty in its basket to deliver. With BEP20 becoming more popular these days, it should not trouble the entrepreneurs to raise funds for ICO in a short period.
ERC20 is the most popular, yet the transaction charges are higher. BEP20 provides faster transactions at a comparatively low cost. Crypto token users, in general, are pegging their tokens to the BEP20 token standard to avail themselves of the low transaction speed. What if you provide the investors with the crypto tokens that they can feel free to transact? It will be way better for them instead of pegging to other platforms. It will naturally attract more investors.
The Binance Smart Chain plays a role in making the BEP20 standard more beneficial. With the BEP20 token built-in Binance Smart Chain, it possesses all the features owned by BSC.
With BEP20, you can develop your required funds without any hassle. But you must create BEP20 tokens in a trustable company. There are many resources to provide you with sample BEP20 tokens for free. But when it comes to business, you will require an expert to create BEP20 tokens. You can consult a trustable BEP20 token development company to help you with the token creation.
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