BEP-20 is a token standard on Binance Smart Chain that extends ERC-20, the most
common Ethereum token standard. You can think of it as a blueprint for tokens
that defines how they can be spent, who can spend them, and other rules for
their usage. Due to its similarity to Binance Chain’s BEP-2 and Ethereum’s
ERC-20, it’s compatible with both.
BEP-20 was conceived as a technical specification for Binance Smart Chain,
with the goal of providing a flexible format for developers to launch a
range of different tokens. These could represent anything from shares in a
business to dollars stored in a bank vault (i.e., a stablecoin).