Make sure you are set to the Smart Chain network on the top right.įor step two, you’ll need to give your token a name and a symbol. The link for step one can be viewed in the Trust Wallet Dapp Browser by typing in cointool.app/bnb/BSCCreateToken in the address bar. Select ‘Create Token’ and approve the transaction Creating a BEP20 Token Using Token Create Let’s explore how to create these tokens below. This fee is compensation for validators for securing the network. Keep in mind that BSC tokens can be swapped for “regular” Binance Chain tokens that conform to their own standard, BEP2.Īlso, any transaction that occurs with these tokens on-chain will require a fee paid in BNB. The token standard ensures basic functionality for the token, such as transferring, returning a balance, viewing token ownership, etc. These tokens conform to a standard called BEP20, which is similar to the Ethereum standard ERC20. The BEP20 Token StandardĬreating a BSC token is surprisingly easy. However, unlike Smart Chain, Ethereum has substantially higher transaction fees. The biggest smart contract blockchain thus far, Ethereum, is also cross-compatible with Binance Smart Chain.
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Simply put, smart contracts are code that runs on a blockchain designed for specific apps or services.įor example, if you want to make a decentralized voting application, a smart contract would be the voting logic that needs to run on the blockchain. If you’re looking for a platform with low fees, fast transaction times, and smart contract compatibility, then look no further than Binance Smart Chain (BSC).Īs a chain that runs parallel to Binance Chain, Binance Smart Chain is specifically designed to cater to smart contracts and the creation of decentralized applications (DApps). Binance Smart Chainīefore you venture off to create your own cryptocurrency, you need to pick a blockchain platform that is appropriate for your use cases. Now let’s jump in and walk you through how that works. And the good news is: anyone can create their own BEP20 token on Binance Smart Chain. Launching a BEP20 token on Binance Smart Chain is easier than you may think.Īrguably, one of the best ways to learn more about the inner workings of cryptocurrency is by launching your own digital token.