BEP-2 (Binance Chain Tokenization Standard)
The BEP-2 tokenization standard is an open source, decentralized protocol on the Binance Chain blockchain that allows users to easily create and manage digital tokens. It was developed by the Binance team and first implemented in April 2019 as part of their expansion into the cryptocurrency world. The purpose of this technology is to provide a simplified way for developers and companies around the world to issue their own cryptocurrency tokens without having to write a complex set of code from scratch.
To use BEP-2, users need access to either a full node or light wallet on the Binance chain network. These wallets can be used for sending, receiving, storing, trading and managing your crypto assets securely. Additionally, these wallets support various features such as multi-signature accounts and smart contract functionality which allow for more secure transactions between parties over the blockchain. Once you have access to one of these wallets you will be able to start creating new tokens using BEP-2 with just a few simple steps:
1) Create an asset name – This must include only uppercase letters A through Z or numbers 0 through 9 and should not exceed 12 characters in length;
2) Specify how many coins each holder will receive – This determines how much supply there is for your new token;
3) Assign total coin supply – You can choose whether or not you want all coins issued at once or distributed over time;
4) Set transfer restrictions if desired – You can customize who has permission levels to send/receive your new tokens (such as whitelisting certain addresses);
5) Submit transaction via wallet – Finally enter all relevant information into your wallet interface where it will be processed onto the blockchain after being validated by miners.
Once your transaction has been successfully mined on Binance Chain’s mainnet it becomes immutable meaning no further changes are possible unless another user initiates another transaction directly changing its state again via consensus amongst miners.. With its wide range of customizability options such as transfer restriction settings along with ease of use when compared against other protocols like ERC20 make it incredibly attractive option when looking at launching any kind of token project within crypto space today!
