binance chain BEP-20 token
The first and foremost thing to consider before you create your BEP20 token on the Binance Smart Chain is to define the use of your token and the functionalities it will facilitate. As the BEP20 token is like an extension of the ERC20 token standard, it requires some predefined functions and characteristics that are imperative to include in the smart contract. These are:
Token Name: When creating a token, you’ll need to choose your token name perfectly E.g. “Your Token” Token Symbol: The next thing, for all tokens symbol, is much needed one, so you have to decide your token symbol E.g. “YT” Token Decimal Places: If the token has 8 decimal places it means that the fraction part of the tokens will be “100000000” Total Supply: You need to provide the number of tokens that be supplied in your use-case. This number should be well thought as it determines the circulation of the token and affects the value of the token Balance Of: It is a predefined function that returns the token balance of the account to the authorized person address
These are just the basic functions that are the must-haves for creating a BEP20 token on the Binance Smart Chain. Other than these, depending on your use-case, there may be a number of functions that also need to be defined for example for staking the token or for the transfer of the token.