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Best Bep20 Token Development Company

by Sam Cladson 10 months ago in blockchain
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Bep20 Token Development

What are BEP-20 tokens?

BEP20 tokens are the Binance Smart Chain (BSC) equivalent of the ERC20 token standard of the Ethereum blockchain. The BEP20 tokens standard is a direct fork of the ERC20 token standard, which means that you can code a smart contract for ERC20 in solidity and deploy the token directly on the Binance Smart Chain blockchain.

Why is BSC better than Ethereum

The major problems with the Ethereum blockchain have always been the lack of scalability and the low transaction speeds. This means that when the network gets congested, transaction costs skyrocket.

BSC solves this by using a modified version of the Proof-of-Stake (PoS) consensus mechanism called Proof-of-Staked Authority (PoSA), which makes transactions faster and cheaper. The Binance Smart Chain has also popularized “Peggy Coins,” that are BEP20 tokens pegged to the price of any cryptocurrency. This allows users to send cryptocurrencies over the Binance Smart Chain, and avoid the high gas fees associated with the transactions.

Binance Smart Chain vs Ethereum

BSC and Ethereum are in essence the same kind of blockchains. The differences come in a few ways. One, BSC is much faster that Ethereum and the transaction fees are lower. While a typical transaction on Ethereum right now would cost you at least $20, you can make the same transaction on the Binance Smart Chain for under a Dollar.

Although the Ethereum has most of the market share in the cryptocurrency market, that spot is slowly being taken over by the Binance Smart Chain Blockchain.

What is an ICO - Initial Coin Offering?

ICO, or Initial Coin offering, is a fundraising method with which new crypto projects can raise money. Typically when starting a startup company, you need a fairly good capital investment to get started. You could find angel investors and loans but that involves either having some debt or owing someone money.

With ICOs, startups can create crypto tokens and sell it at a discount to investors looking to invest in new opportunities. Usually, when someone invests with your company, you have to give them a share of the profit. But when you raise funds through ICO, you only give the investors the tokens. They are not entitled to any ownership of your company or project.

Instead, they buy these tokens in the hope that it will appreciate in value in the future, and they can sell it for a profit. If you look at the kind of growth that Bitcoin and other cryptocurrencies have had, you can see why more and more investors are jumping on board everyday.

How to sell your ICO tokens

You can sell your ICO tokens manually by creating a landing page and displaying your wallet address to receive funds. Investors can send their crypto tokens to your wallet address, and you can send them your tokens.

The much more efficient option is to use an ICO dashboard. An automated ICO dashboard can allow users to visit your site, complete a registration process, and buy your tokens without you having to manually send any tokens.

Airdrops

An Airdrop is an ICO marketing technique where you send users free tokens for completing certain tasks. The tasks can be anything, for example, sharing your news on their social media. Since the cryptocurrency market is so huge, people are likely to participate in your airdrops, and give better visibility to your project.

Blockchain in Government: A Step Towards a Better Tomorrow

The application of blockchain in government and public services can solve the problems that have been haunting the system for a long time.

Most people know blockchain as the foundation for cryptocurrencies. But the technology has a much greater potential that spans across almost any sector that you can think of.

Governmental organizations all over the world were quite skeptical about the technology. But that was because they didn’t know much about this it.

Now, governments from different parts of the globe are looking into the infinite possibilities of blockchain technology.

So, let's take a look at the possibilities of blockchain for government and public sector.

What makes the system tick?

A democratic government is a system where people are supposed to exercise the authority of the government.

The people who are citizens of a state elect their representatives through an election process and these representatives run the government on behalf of the people.

In theory, the “people” are supposedly the ones with the “power.” But in reality, the government often fails to ensure even basic human rights to the citizens.

Where the system has slipped

The fact of the matter is that the government has a bad name when it comes to public services. This makes blockchain application in government the need of the hour.

People complain all the time about how inefficient government offices are in processing requests and sanctioning funds to the public.

But the roots of the problem go deeper than what we see on the outside. The centralized system undoubtedly has many disadvantages, which we will look at right now.

Lack of transparency

Lack of transparency in governmental affairs is something that goes against the concept of democracy itself. Yes, you have to keep some information confidential, such as that of the military, to ensure national security. But the system that is supposedly run by the “people” forces its citizens to be unaware of what happens around them.

We have to wait a whole year before we know what the government has done with our tax money. And at times, we even have trouble accessing our own personal information.

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Click Here: https://www.blockchainx.tech/bep20-token-development

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Sam Cladson

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