BEP-2 is actually Blockchain Binance that addresses in it start with ‘bnb’ in the beginning and need to enter a MEMO value. In the rest of this article in Shetcoiner website we are talking about these what is the difference between bep2 vs bep20 and is bep2 same as bep20.
What is BEP-2 in Binance?
Binance exchange started to make a standard of making BEP-2 and create bep20 token to set up its own decentralized exchange. users and programmers that were interested in Blockchain Binance or Binance-chain use these token standards the make their token and cryptocurrency without needing to right a long and hard code.
How to convert BTC to USDT in Binance?
Binance was s etting up its decentralized exchange (Binance-Dex) and its Blockchain (Binance-Chain) at the same time. Binance announced that different deposits and withdrawals with technical standards are possible in this decentralized exchange. That means you can deposit and Ethereum’s Token with ERC-20 Standard network to this exchange account or withdrawal that token with Binance-Chain (BEP-2).
Binance Smart Chain standard is a standard for creating tokens that is going to use smart contracts in them. Binance’s Blockchain doesn’t support smart contracts and only focuses on high speed, scalability and preventing the network from getting to busy. But Binance Smart Chain project was started to be used for developing smart contracts in Binance-Chain.
But Binance-Chain wasn’t replaced by Binance Smart Chain and the deal is that both of these networks will work on separate networks from each other and will work together for times that users need both.
The differences between BEP2 and BEP-20
The most important difference between Binance Smart Chain and Binance Chain is bep20 token generator Smart Contracts supporting. A lot of Smart Contracts developers in other Blockchains like Ethereum that has come Binance Smart Chain are talking about that the best feature of this Blockchain is supporting Smart Contracts. One other difference between BEP2 and BEP-20 is their wallet addresses that in BEP2 starts with “bnb” in the beginning and needs an MEMO. But in BEP-20 the wallet address is like Ethereum Blockchain and starts with x0 in the Beginning.
Nowadays Binance Smart Chain has supported a high amount of Smart Contracts. A lot of developers set up and run their Smart Contracts and Dapps programs on Binance Smart Chain Blockchain and solve their own problem with Ethereum’s high fee prices.
Where is Binance located?
A lot of developers talk about Binance Smart Chain’s advantages than Ethereum’s Blockchain, that this create bsc token Blockchain supports Smart Contracts with low fee prices for making Smart Contracts and new tokens or Dapps and the fact that you can easily use this Blockchain to develop Decentralized apps and Smart Contracts.
Where do I find my Binance wallet address?
Your Binance wallet’s address is visible in different platforms of Binance exchange that you can use.
- Web version
- Phone application
- Computer version
These few Binance version are the versions that people usually use and are the most popular platforms for accessing this exchange. you should go each of these platform and try to copy wallet address in the wallet section for finding your Binance wallet’s address for each cryptocurrency that you need.
Finding Binance wallet address steps:
- Enter to your favorite and intended platform
- Sign in to your account in the Binance platform
- Go to the wallet section in Binance menu
- Choose the “Fiat and Spot” section
- Find your cryptocurrency in the list.
- Click on Deposit option
- Now you can copy and use your wallet address at the “address” field
Binance is one of the largest crypto currency exchanges in 2021 in terms of trading volume. This criterion shows that people all over the world have known it as a safe place to convert and buy their currencies and the number of users of this site is increasing every day. In addition, the exchange has released the BNB currency, which shows that they have a very big goal and they intend to make big changes in the world of crypto currencies.
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