Welcome to the Ask SCN Community › Forums › Global Forum › General Discussion › Which is the suitable crypto token standard for launching an ICO?
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March 29, 2022 at 10:42 am #3025elenawilliamsonParticipant
Before a quinquennial, an entrepreneur or a startup is interested in launching their crypto crowdfunding ICO platform. They have always preferred the Ethereum blockchain for their crypto token creation. But nowadays, most business people prefer Binance Smart Chain especially BEP20 instead of using Ethereum(ERC20) blockchain. Do you know why it is? There are plenty of reasons for it, let me explain them one by one. Without any delay, we shall directly move on to the topic.
Technically why BEP20 is better than the ERC20 crypto-token standard for launching an ICO
Low Gas Fees:
The first & foremost reason why entrepreneurs prefer BEP20 is the low gas fees. The gas fee is very low when compared to ERC20
An ERC20 takes 15 seconds per transaction but the BEP20 takes only 3 seconds per transaction.
Dual Chain Architecture:
You can freely swap from the BEP-2 token to the BEP20 token.
Easy adoption for Defi Ecosystem:
Recently, many DApps accept the BEP20 token standards, so you have numerous chances to enter into the Decentralized ecosystem.
Well, these are some of the technical aspects of why BEP20 is better than the ERC20 crypto-token standard. And, now you might have got an idea about why they prefer the BEP20 token standard. Okay, let’s move to the next topic, how to create a BEP20 token?
How to Create a BEP20 Token?
You can build your BEP20 token in 5 steps, check it out below.
– Prepare an account for issuing tokens.
– Prepare & Deploy the BEP20 smart contract code.
– Finalize the token specifications (Mintable, pausable, & Burnable).
– Add tokens to Binance Smart Chain.
– Verify BEP20 contracts.
These are the steps to create your BEP20 token. I know the steps are quite complicated, but if you reach out to a reliable crypto token development provider then you can simplify the work. But, it’s a tedious task to find a reliable token development provider. Because the marketplace is filled with a lot of crypto token development service providers. So, you will have to choose your crypto token development service provider by the following quality factors,
– Years of Experience in the crypto field
– Technology stacks used
– Quality of the Smart Contract
– Budget-friendly cost
– Client’s testimonials & many more
These are some of the quality factors that you need to consider before choosing a crypto token service provider. Entrepreneurs like you don’t have that much time to do the analysis. Not to worry, I’ll help you to opt for the best crypto token development service provider. I did my research on the above-mentioned quality factors. As a result of my analysis, I came up with one fine solution, CoinsQueens. Yes, CoinsQueens is one of the professional Crypto Token Development Service Providers in the crypto market. Their smart contract developers are experts in creating crypto tokens. Also, their crypto token creation price is very budget-friendly, the price range starts from $ 3K, the price might be tentative depending upon your business needs.
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