Difference between TWT BEP2 and TWT BEP20

Please is there any difference between the tokens? I know that both runs on different block chain which is binance chain and binance smart chain, aside that will there be a difference in price, bcos right nowTWT BEP20 is slightly above TWT BEP2.


Ethereum and Binance Smart Chain addresses are same - Yes you read that right.

BEP20 Network – Binance smart chain
Binance smart chain is a parallel Binance chain designed to enable smart contracts and it comes with an Ethereum Virtual Machine-compatible environment.

It is never meant to compete with Ethereum or replace ETH. BSC is just an ETH-compatible chain and is designed to give users more options such as fast block times, cheap transaction costs etc.

Users are able to transfer the same asset (ERC20 token) in shorter time and at surprisingly low cost (low gas price) on Binance smart chain (BEP20 token). These are called pegged tokens.

Pegged tokens?
Pegged tokens are a type of token that will have its value tied to the original crypto.

For example Chain Link (ERC-20) token will be pegged at 1:1 ratio with Chain Link (BEP-20) token. Not only ERC 20 tokens, but even tokenized versions of Bitcoin, Ethereum, Litecoin, Tether (USDT) are available on Binance smart chain.

The purpose of these tokens is to allow trading assets on DEXs and benefit from the speed and transactional efficiency of the new blockchain.

These coins and tokens are wrapped and pegged by Binance on 1:1 ratio to the corresponding native cryptocurrency.

On Binance scan explorer you can find the full list of Binance pegged tokens (BEP 20) and their contract address.

Bsc Scan: [Token Tracker | BscScan](https://Pegged tokens on Binance)

Source: BEP2, BEP20, ERC20, OMNI & TRC20 networks - What's the difference?

1 Like