- Basics of BEP20 Token Development
- Binance Chain or Binance Smart Chain ( BSC )?
- What do you understand by BEP20 Tokens?
- BEP20 Token Development Using SAG IPL
- BEP20 Token Development Preparations
- BSC Mainnet vs Testnet
- Obtaining MetaMask
- Connecting to a BEP20 Node
- How to convert MetaMask Network
- Getting BNB to Fuel Transactions
- BEP20 Token Development – Token Creation
- Detailed Steps to build and Launch BEP20 Tokens
Basics of BEP20 Token Development
Instead, of knowing the fact that BSC is famous and can be adopted by various Web3 projects, even though there are many things that are not known by everyone. But there are most in the crypto realm that will be known with the Binance exchange. And above this, Binance is behind the Binance Smart Chain, which supports all BEP20 token development capabilities in the first place. Now, let me take you to BSC and Binance Smart chain development.
Binance Chain or Binance Smart Chain ( BSC )?
The word behind ‘Binance’ in Binance Smart Chain’ indicates the team behind Binance’s ruling exchanges is definitely the most useful chain to life. But, the chain might not be decentralized as we’d use. But as per the blockchain trilemma, through donating decentralization, you can also enhance scalability and security. This would surely be what the developers behind BSC were going through the post they forked Ethereum’s blockchain and built BSC in the year 2020.
Additionally, it is also crucial to know that Binance Chain and Binance Smart Chain aren’t one and the same. The old one is the authentic chain made by Binance, which has been designed with a complete focus on storing exchange transactions. It was not able to host smart contracts and all undefined transactions on that certain blockchain. Therefore, developers bring a solution and made a new chain which is Binance Smart Chain.
Moreover, it is also important to note down that both the chains now run parallel with each under, where both of them serve their main purpose – such as Binance Chain easing trading whereas BSC maintains smart contract development. Also, the Binance ecosystem utilizes which is called ‘dual-chain’ architecture. The hindmost allows seamless transfers between the two chains. Therefore, issuing funds through Binance Chain to BSC and so on is an effective and smooth procedure. Furthermore, both the chains share a similar native token, which is BNB.
So, if you now go through the fact that the BEP20 token development needs to use a smart contract, you understand that we’ll be utilizing BSC for the further example project.
What do you understand by BEP20 Tokens?
If you have been gone through ERC20 tokens, then it will be easy for you to understand what BEP20 tokens are. BEP20 is known as BSC’s interpretation of ERC20 on Ethereum however under minor variations, and since BSC20 is a fork of Ethereum, which basically provides similar functionalities. Also, BEP20 is considered as the standard for fungible tokens on BSC, and it manages tokens, which involves the assurity that tokens will be tradeable, that a starting amount can be set, etc.
And for further knowledge, you should know that BEP20 is termed as the token standard for BSC, while BEP2 is known as the token standard for Binance Chain. Additionally, there also be the BEP721 standard for NFTs on BSC, which comes along with Ethereum’s ERC 721 standard.
Here are a few of the well-known BEP20 tokens :
BEP20 Token Development Using SAG IPL
Now, let me take you to the core of BEP20 Token development while utilizing SAG IPL, as providing the easiest and most instant way to make and link tokens on BSC.
Furthermore, you need to know that there are many ways in which you can develop a BEP20 token; but, we’ll point to the instant and quickest way. As such, apart from SAG IPL, there are others we’ll be using several tools like MetaMask, Remix, and Open Zeppelin.
BEP20 Token Development Preparations
Now, you are ready with your SAG IPL account which is ready, now, we can begin with the initial setup procedure which is an important step in order to make our BEP20 token development possible. And these steps involve getting a Meta Mask account and deploying it to BSC’S network, Which will require adopting a BSC node – which SAG IPL makes smooth, while SAG IPL is an Infura for BSC.
BSC Mainnet vs Testnet
Prior to we jump into the exact steps which are needed to connect to a BEP20 node, we have to acknowledge you about BSC’s testnet. As you might know, there are no exceptions in all blockchain networks that basically have a mainnet and several tenets, whereas BSC is no exception. The best part about these testnets is that they allow you to test your smart contracts and dApps without spending funds in actuality. And here, we always ask you to begin with BEP20 token development on BSC’s test net ( firstly, we’ll focus on this). Furthermore, you need to keep in mind that the right steps are necessarily similar once you use BSC’s mainnet.
Meanwhile, the prime differentiation is the BEP20 token development on the BEP20 testnet involves utilizing a BNB coin tap, which offers BNB coins for free. But, BEP20 development on the mainnet needs you to acquire actual BNB coins, which you will get on any centralized exchange (CEX).
Now, we’ll go to this famous crypto wallet from where you can upload your new BSC tokens and also access them during launch. Acquiring this Metamask is straightforward, where the wallet is free and accessible for download from https://metamask.io/. Post this, download the Metamask browser and add – on and later complete the installation. Also, get assured to store your recovery words anywhere safe.
Connecting to a BEP20 Node
Since we’re under preparations for BEP20 token development, here, we require to get connected to a testnet node. Later then, we’ll be making our BEP20 token on BSC’s tesnet, we also need to obtain a testnet node for Binance Smart Chain.
Here, are the much-needed steps in order to acquire a testnet node :
- Log in to your SAG IPL account for accessing your SAG IPL admin panel.
- Now, click on the ‘Speedy Nodes’ tab in the menu which is on the left-hand side. This will gives you various options for the network ( as shown in the image).
- Now, we are all set to take on BEP20 token development so all you require to do is to select ‘BSC’s network.’ you can do this by clicking the ‘Endpoints’ button within the ‘BSC Network’. This will enable a pop-up window carrying various URLs where nodes can be shown.
- As we can see at testnet BEP20 token development, click on the ‘Add to Metamask’ button next to ‘Testnet’.
How to convert MetaMask Network
SAG IPL does provide WebSocket support for whole SAG IPL speedy nodes which involves BSC nodes. So, when you’ll work with WebSocket, there you require to include BSC’s testnet network to Metamask and can manually switch to it.
For swapping the networks, you require to click the ‘Networks’ tab which is at the top of the interface. Whereas the drop-down menu has several options which will show ( the exact alternatives will rely on whether you’ve included other networks prior or not). Later choose the ‘Custom RPC’ option.
When the new window opens, you require to add the following information:
- Network Name : BSC Testnet
- New RPC URL: ‘Input SAG IPL Speedy Node URL’
- Chain ID: 97
- Currency Symbol: BNB
- Block Explorer URL: https://testnet.bscscan.com
You can end the procedure by Clicking ‘Save’. Now, you’ve successfully included BSC’s testnet network in your MetaMask. And the remaining one is to choose ‘BSC Testnet’ through the ‘Networks’ tab.
Getting BNB to Fuel Transactions
In order to utilize the BSC’s mainnet, We’re required to get actual BNB coins. Although we are into the use of testnet, we can go for free BNB. For acquiring these ‘play’ funds, you can check the website, put your MetaMask wallet address ( click the ‘account’ option at the top of the MetaMask interface to copy the address) within the input field. Accomplish the procedure by clicking the ‘Give me BNB’ button.
BEP20 Token Development – Token Creation
After wrapping the easiest tasks above, we keep each thing in place for the real token creation procedure. The best part is that its additional shortcuts are provided. As per your acknowledgement, BEP20 tokens go with similar principles as the ERC 20 standard; therefore, the same tools might be utilized in BEP20 token development. Additionally, there is the availability of code templates online for both BEP20 and ERC20 tokens. While utilizing these, we really do not have to make anything from starting, however, we can easily apply two simple tweaks to the live and tested code.
Now, here are the following tools we will use while completing the BEP20 token development:
- Remix – The process of utilizing an online development environment is known as Remix.
- Open Zeppelin – The motive behind using an Open Zeppelin is to get a template of code that demands minimal tweaking.
- Solidity – solidity ( an Ethereum programming language) can be utilized to code our smart contract for using an existing ERC20 smart contract template.
Detailed Steps to build and Launch BEP20 Tokens
- Make a Contract File with Remix – Firstly, open Remix’s official Website, now you’ll have to open this app’s default workspace on the left-hand side of the interface. You need to left-click on the ‘contracts’ folder and choose ‘NewFile’. Then, you can name the file according to your preference.
- Utilize a Token Template provided by openZeppelin – We will take a tested ERO20 smart contract template from Zeppelin.
Code the Smart Contract – We required the necessary transformation to the template code. This involves the following –
- Exchanging the current token name ( GLDT Token’ ) to whatsoever you desire.
- Eliminating ‘uint256 initial Supply’ from the initial constructor (situated under the curly braces).
- Transforming the present currency symbol ( ticker ‘GLD’) and the name (‘GOLD’) to whatever you desire.
- Under the ‘-mint () ‘’function, you can eliminate ‘initial Supply’ and exchanged it under the starting supply you desire; but, you will be not able to easily type the number. For example, you can type; ‘100*( 10** uint256 ( decimals )” which indicates that 100 tokens will be minted since the contract is positioned.
- Gather and utilize the Contract – Mark to the ‘Solidity Complier’ tab in the top navigation bar under the Remix. Later, choose the proper compiler version (matching the pragma line in the code above) and choose the authentic file. Accomplish these steps while clicking the ‘compile’ button. Later, move to the Deploy & Run Transactions tab, choose the ‘injected Web3’ environment, and throughout the process get assured that your MetaMask is fixed with the proper network.
View the Token in MetaMask – Press the ‘Assets tab and later ‘Add Token’. Then, add the details for your token ( the address). You will get the latter from BSCScan (testnet), which can be opened directly from MetaMask just by clicking on the latest transaction, and later on the minor arrow indicating at the top-right.
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