Why is BEP20 the best choice for an efficient ICO?

[johnrobert121]

ICO has become the most preferable crypto crowdfunding method in recent times. It has been considered as a replacement for the traditional crowdfunding method that has security issues. With ICO you can raise funds in a simple and hassle-free manner. But you should choose the right token standard for your ICO to make it efficient. 

 

There are many blockchain platforms where you can create your crypto tokens. But, not all can benefit you. It is important to shortlist the token standards that you can prefer. Based on a stat, there are only two token standards that can help you in making your ICO efficient. 

 

• ERC20

• BEP20

 

ERC20 is the fungible token standard of the Ethereum blockchain. They are capable of attracting investors with their popularity. But, to make efficient crowdfunding you will have to look into the most important aspect. Your investors are most likely to be crypto enthusiasts who will be aware of the blockchain platforms. So, when it comes to Ethereum the transaction speed is very low when compared to other platforms. This has a high chance of disappointing your investors. 

 

BEP20 is a standard token on Binance Smart Chain that has all the necessary functionalities like transferring, viewing token ownership, and returning a balance. BUSD, CAKE, and BUX are some of the popular BEP20 tokens in the market. BEP20 is similar to ERC20 but, has covered all the flaws in the ERC20 token standard. 

 

Why is BEP20 the best choice for an efficient ICO?

 BEP20 has many reasons to be the chosen one. I have listed out the important ones that will help you to make your ICO more efficient.

 

• BEP20 tokens reside on the Binance Smart Chain, which has become a successful blockchain platform in a very short period. With tokens residing in this blockchain, you can help your ICO to become the most efficient. 

• BEP20 tokens on the other hand are the trending ones in the marketplace. This helps you in attracting more investors towards you.

• The transaction cost of the BEP20 token is way less than any other token standard. Also, it has a higher transaction speed when compared to the ERC20 token. 

• Most of the crypto token users peg their tokens from ERC20 to BEP20 to avail themselves of the low transaction cost and high speed.  

 

How to create a BEP20 token?

Creating BEP20 tokens can be easy. If not for

 

• Smart contract implementation 

• Cost factor to create BEP20 tokens

 

The smart contract implementation is the trickiest part here. It is written in a special language known as solidity. It requires the guidance of high-level experts to help you implement a smart contract. So it is better to consult a BEP20 token development company to create your tokens. But, make sure to do some research before contacting the company. There might be some companies who claim to be the best in these services. I, on the other hand, have done some groundwork to reduce your burden. Zab Technologies - a renowned blockchain development company, is dealing with BEP20 token development. They are really good at that, and apart from BEP20 token development, they also entertain their clients with some perks. They provide you with wallets to send, receive and store your tokens. Also, they provide a free demo before you make an initiation. This might help you to understand their work better. You can contact them to get more info. 

 

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