How To Create A Bep20 Token
Every day, new and new users are flocking into the race to hold and trade cryptocurrencies. With these, new technologies are developing every day and queries for those are also rising in the mind of crypto enthusiasts. In this article today let us find out about the bep 20 token and how you can create it.
Why was the Bep20 token created?
To understand the Bep20 token, you need to understand more about the Bep2 token. Binance created the Bep2 token to add some functionality to the existing ERC20 token, which is a part of the Ethereum ecosystem. The Ethereum ecosystem is very vast, and the applications built on it cannot interact with the Binance ecosystem.
This led Binance to create a new parallel chain called the Binance Smart Chain or Bep20. This has all the functionality of its predecessor. Bep20 token can interact with the ERC20 Ethereum ecosystem. Thus, making it easier for the transition and coordination of apps from one system to another.
How to create the Bep20 token
Before creating a Bep20 token, we should first know that we can build ERC20 and Bep20 with similar platforms and tools. To do this, first, we need to create a smart contract. You can do this using object-oriented, high-level programming languages like Solidity.
You will need a compiler like Remix, where you can write, compile and debug the code. Then you will also need an online cryptocurrency wallet through which you can store, buy and sell your tokens. For developing the token you need an alternative blockchain for testing.
- First, you will need to get a node. This will help you connect to the different blockchain networks and help you verify the transactions over the network. Copy the address of the testnet and you can proceed to the next step.
- In this step, we will use the cryptocurrency wallet. Click on the wallet symbol. You will see a list of networks and find the Custom RCP option. You will need to fill in the required details and proceed to the next step.
- Copy the online cryptocurrency wallet address, which you can do by copying the account name and pasting it on the testnet. Then select the give me BNB option and from the drop-down menu, select the amount of BNB you want. It will deposit the same amount of BNB in your cryptocurrency wallet. To create a Bep20 token, you will need BNB in your wallet.
Create a Bep20 token
The benefit of decentralization and an open-source network is that it allows you to copy, paste and adjust the code. This step is a piece of cake, and you do not need to be a blockchain expert for this.
You can get the code from open-source organizations that have a collection of different token standards for the usage of developers. Once you select the contract, select the document symbol and give it a unique name. Also, write a catchy description that will help the token get the attention of the community.
Before you copy the code, adjust it according to your requirements:
- The first line of the code should show the version of the programming language used for development.
- The next line is for the URL, which we will use for importing the smart contract template and storing the token structure.
- Now copy the smart contract, paste it, and adjust it accordingly.
- The Second code line is used to run the constructor and we use it to create the token. Here you can give the token a name and a symbol.
- We use the next line for minting the token and here you can adjust the total number of tokens you want to print.
After you have written the smart contract, copy it and paste it into the compiler. This process will help you identify any issues or bugs with the code. When the compilation shows no issues that is your green signal to continue to the last step.
In this last step, you need to deploy and run the transaction symbol. A menu will appear where you will have to select the environment. Make sure you choose the Web3 option. Now verify if the account address matches that of the crypto wallet address. Now click the deploy and the process is complete.