As an improvement, human race took an interest in trading goods with their worth of money instead of trading them for each other, the concept of money relieved trading a thousand years ago.
Then we got to a point that we figured out trading with only paper money is such a huge waste, so we invented money that is trustable but not necessarily fabricated with papyrus, this was called crypto currency.
Evolving has always been the way of human race, we should never go any way but up, so we tried to make the crypto currency even better and better and made tons of different currencies.
Bitcoin, tether, doge coin, wallet, meta mask, web 3, , NFTs, block chain, Defi and DApps, all mean the same, all of them mean the improvement is the only way and that actually works .
Some of us has thought about making and producing our own crypto coins and making a name or
At least wealth, but in order to do that, you should have a certain level of knowledge of the game.
You should know how to code so you must know about application development, you must know about network, about computer security and most certainly you must know about standards of block chain.
In the crypto currency universe, every coin or better say currency runs on blockchain and every blockchain runs on its own set of rules.
Token standards are a set of blockchain rules that every currency on that specific blockchain is programmed according to them and run through the network.
As an example, every token on the ethereum blockchain, runs on the ERC-20 standard and have the same set of rules and principals and is under one unique class of ruling.
If it still is a little blurry, hang in there, more information about is coming up.
What is BEP-20?
Imagine a blockchain a race track and every coin or token is a car. To have the permission of the race, every car should meet certain rules and standards to be able in taking part.
Same goes for tokens, every token should meet a quality bar and have certain standards to be able of being bought or sold or trading in a certain blockchain.
Surely every blockchain has different rules comparing to another blockchain, so you may not be able to interact with a coin on different blockchain; of course there are some exceptions.
For example the standard of ethereum is ERC-20, the binance chain has the BEP-2 and smart chain binance holds the BEP-20 standard.
So you may have figured out that the BEP-20 means the standard for the smart chain binance or better known as BSC as you might see in the internet or among crypto people, so here is a formal introduction:
BEP-20 is the standard of the entire tokens on the binance smart chain network; meaning every token coded and made on this network is upholding this standard as they are being traded or bought or sold.
Note: remember to not mistake the BEP-2 for BEP-20 as they are 2 complete different set of standards.
What is the use of BEP-20?
If you are a little into the internet stuff, you may have heard the name of web3. But what is it? How does it affect us? How do you use it?
Long story short, just like the trading that we earlier discussed to be more virtual after a thousand worth of years and the human race decided hey it is a nice way to save up trees and have more security, they did the same for the living in the world, yup.
Web 3 is the project that is mainly funded by Facebook and the man who runs it, that simulates a world in the virtual mode. Probably you have played or heard the name of the game GTA, pretty much the same.
You can live, run, trade, buy, sell , hold, give an haircut, drive a car, be a factory man and pretty much everything you want or have a desire for in the place called metaverse in the web3, and to be honest some lands and houses in meta verse probably cost and value more that real houses nowadays.
Now most of the metverse games and casinos and actually most of the transactions in there are run through tokens with the BEP-20 standard that is how it is useful to know about it.
So now you can make your purchases rather easier than before knowing how it works and how it is made, but have you actually have made a transaction with those tokens?
A common problem is that many users seem to complain about, is that when they want to get or spend their money, they cannot see how much they have left or basically the wallet is not showing the amount of their belongings in their account, to solve that problem you should do nothing but one thing.
How to add BEP-20 to Meta mask wallet?
As we spoke, the common complaint is that the wallet is acting up when you try to transact in the games or mainly in the metaverse, in order to solve that problem you have to add the wallet to the database and have the blockchain and its standards added to the wallet setting.
For those whom have forgotten about the Meta mask wallet, Meta mask is a capable wallet that comes in an extension form to your aid.
If you want to be able to have transaction with the BEP-20 standard tokens, you might as well add the binance smart chain blockchain or BSC to the wallet first. In continue we try to guide you through the steps of it.
- Go to Meta mask wallet’s official web site and download the latest version compatible to your system and go through the set up.
- After setting up the wallet and signing in or signing up in the case of not having an existing wallet, enter the wallet extension.
- In the top right corner you can see three dots as your prime options, click on it.
- You will be presented with four options, select the “expand view”.
- Now you have your Meta mask in a separate view page as it is easier to navigate, click on your profile on the right top corner to access the setting.
- Scroll down until you find the setting option and click on it to open it.
- Scroll down to see the network options and hit it, this step requires a little manual setting.
- In the presented page click on the add network and be ready to fill in the required information in the targeted slots. Here are the technical info for binance smart chain to fill in:
Network Name: Smart Chain
New RPC URL: https://bsc-dataseed.binance.org/
Chain ID: 56
Symbol: BNB
Block Explorer URL:https://bscscan.com
- After setting these information successfully, hit the save button and go out to your wallet. As you can see the BSC in now on top as a selected blockchain.
- Now you can transfer money and coins by the BEP-20 to your wallet and use as it now contains the network.
Remember the same steps go for every blockchain you need to add to your wallet.
Written by A.M.S
