Post
Topic
Board Altcoin Discussion
Re: Guide Me About ERC-20 to BEP-2 Migration ! What’s the Difference between !!
by
Tytanowy Janusz
on 08/10/2020, 08:20:27 UTC
1- What’s the Difference between BEP-2 and ERC-20?
2- How BEP20 works
3- For High Gas Fees They doing this?
4- BEP-2 address also similar as ERC20 Address why?

1 and 2 - BEP-2 is binance chain. Blockchain launched by crypto exchange. It is less decentralized than ETH (ERC-20), thus is able to provide better bandwidth. ETH is POW BNB is DPOS and proof of authority - https://academy.binance.com/en/articles/proof-of-authority-explained

3- Fees on binance chain are negligible (from fraction of a cent to few cents). Fees are that low because of much lower traffic (compared to ETH) and technology that is more speed oriented rather than decentralization oriented.

4- Binnance aimed to do a chain that is compatible with ETH to use infrastructure that was build for ETH for last 5 years (f.e. you can use metamask to hold/transfer binance chain coins). Everything you can do with ETH you can do with binance chain too.