Binance, one of the world's largest cryptocurrency exchanges, launched its original mainnet in 2017. By 2020, it introduced a second blockchain—Binance Smart Chain (BSC)—while retaining the original BNB Beacon Chain (formerly Binance Chain). This guide explores BEP-2, the foundational token standard on Binance’s native blockchain, and compares it with BEP-20.
What Is BEP-2?
BEP-2 is the technical standard for token issuance and implementation on BNB Beacon Chain. It defines rules for creating interoperable tokens, similar to Ethereum’s ERC-20 but tailored for Binance’s ecosystem.
Key Features of BEP-2:
- Native to BNB Beacon Chain: Used for trading on Binance DEX.
- No Smart Contracts: Unlike BEP-20, BEP-2 lacks smart contract functionality.
- Address Format: Tokens use "bnb" prefixes (e.g.,
bnb1...).
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Binance Chain vs. Binance Smart Chain
| Feature | BNB Beacon Chain (BEP-2) | Binance Smart Chain (BEP-20) |
|------------------|--------------------------|------------------------------|
| Purpose | Decentralized trading | Smart contracts, DeFi, dApps |
| Consensus | DPoS + pBFT | Proof of Staked Authority |
| Token Address| bnb... | 0x... (EVM-compatible) |
| Fees | Transaction fees apply | Lower gas fees |
Why BSC Gained Popularity:
- EVM Compatibility: Supports Ethereum-based tools.
- DeFi Focus: Enabled protocols like PancakeSwap.
BEP-2 vs. BEP-20 vs. ERC-20
- BEP-2: Native to BNB Beacon Chain; limited to trading.
- BEP-20: Powers BSC’s DeFi ecosystem; akin to ERC-20.
- ERC-20: Ethereum’s standard; requires bridging for cross-chain use.
Example: BTCB is Bitcoin’s BEP-2 wrapped version for Binance Chain.
The Future of BEP-2
While BEP-2 remains active for Binance DEX, its utility is overshadowed by BEP-20’s smart contract capabilities. However, it still serves niche use cases, such as tokenized assets like BTCB.
FAQ
1. How do I distinguish BEP-2 from BEP-20 tokens?
- BEP-2: Address starts with "bnb."
- BEP-20: Address starts with "0x."
2. Which wallets support BEP-2?
Ledger, Trezor, and CoolWallet S are compatible.
3. Can BEP-2 tokens be used for DeFi?
No—they lack smart contract support. DeFi requires BEP-20.
4. Is BEP-2 the same as Bitcoin?
No. BTCB is a BEP-2 wrapped version of Bitcoin.
5. Will BEP-2 be phased out?
Unlikely, as it underpins Binance DEX, but BEP-20 dominates growth.
Key Takeaways
- BEP-2 is Binance’s original token standard for decentralized trading.
- BEP-20 (BSC) surpasses it in functionality for DeFi and dApps.
- Always verify token standards before transactions.
For deeper insights, read our guide on BEP-20.
### Notes:
- Removed promotional links and non-2025 dates.