What Is Binance Smart Chain (BSC)?
For newcomers to the cryptocurrency industry, Binance is often perceived merely as a centralized exchange. However, it’s much more than that. Binance boasts an entire ecosystem of crypto products, including Binance Launchpad for token sales, research labs as project incubators, enterprise trading solutions via Binance Cloud, and a decentralized exchange (DEX) featuring Binance Chain’s primary utility token.
Binance Chain is Binance’s dedicated blockchain for processing and validating decentralized transactions within its ecosystem. It also hosts Binance’s native BNB coin and offers users the choice between interacting directly with smart contracts (via Binance DEX) or trading on Binance Exchange, the world’s most popular crypto platform by volume.
Yet, Binance Chain wasn’t designed for smart contracts. This is where Binance Smart Chain (BSC) comes in—a parallel blockchain supporting smart contracts while maintaining full interoperability with Binance Chain.
Key Features of BSC:
- Ethereum-Compatible: Uses the same codebase as Ethereum with optimized parameters.
- Speed & Cost-Efficiency: One of the fastest, lowest-cost, and developer-friendly blockchains.
What Are BEP-20 Tokens?
Before diving into token creation, let’s clarify Binance’s token standards:
- BEP-2: Native to Binance Chain (e.g., BNB).
- BEP-20: The standard for tokens on BSC, similar to Ethereum’s ERC-20 but tailored for Binance’s ecosystem.
Step-by-Step Guide to Creating a BSC Token
Step 1 – Connect to a BSC Node
Use Moralis.io to access high-speed nodes for BSC, Ethereum, and Polygon networks. Copy the BSC testnet endpoint URL after selecting the Binance Smart Chain node.
👉 Get started with Moralis nodes
Step 2 – Configure MetaMask
- Open MetaMask and select Custom RPC.
Enter these details:
- Network Name: BSC Testnet
- RPC URL: Paste the Moralis BSC node URL.
- Chain ID: 97
- Currency Symbol: BNB
- Block Explorer:
https://testnet.bscscan.com
Step 3 – Acquire Testnet BNB
Visit the Binance Smart Chain Faucet, paste your MetaMask wallet address, and request 1 BNB for gas fees.
Step 4 – Deploy Your Token via Remix
Use OpenZeppelin’s ERC-20 Template: Adapt the code for BEP-20 by adjusting:
- Solidity version pragma.
- Token name, symbol, and supply in the constructor.
Compile & Deploy:
- Open Remix IDE, paste the code, and compile.
- Under "Deploy," select Injected Web3 and confirm the transaction via MetaMask.
Step 5 – Verify and Add Your Token
- Check the transaction on BSCScan.
- Copy the token contract address and add it to MetaMask under "Custom Token."
FAQs
Q: Can I create a BEP-20 token without coding experience?
A: Yes! Tools like Remix and OpenZeppelin’s templates simplify the process.
Q: What’s the difference between BEP-2 and BEP-20?
A: BEP-2 is for Binance Chain, while BEP-20 is for BSC (smart contract-enabled).
Q: How much BNB is needed to create a token?
A: Testnet tokens are free; mainnet deployment requires minimal BNB for gas.
👉 Explore advanced BSC token strategies
By following these steps, you’ve now mastered the essentials of launching your own BSC token. Whether for dApps, DeFi, or NFTs, BSC’s flexibility makes it a top choice for developers and entrepreneurs alike.