What is the difference between BNB and ERC20 tokens?

3 answers

• Dec 26, 2021 · 3 years ago
  Binance Coin (BNB) is the native cryptocurrency of the Binance exchange, while ERC20 tokens are tokens built on the Ethereum blockchain. BNB has its own blockchain called Binance Chain, which allows for faster and cheaper transactions compared to ERC20 tokens. ERC20 tokens, on the other hand, can be created by anyone on the Ethereum platform and are widely used for crowdfunding and tokenization purposes.
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• Dec 26, 2021 · 3 years ago
  BNB is primarily used within the Binance ecosystem, providing benefits such as discounted trading fees and participation in token sales on the Binance Launchpad. ERC20 tokens, on the other hand, are used across various platforms and exchanges that support the Ethereum blockchain. They have a wide range of use cases, including utility tokens, security tokens, and stablecoins.
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• Dec 26, 2021 · 3 years ago
  From my experience at BYDFi, I can tell you that BNB has gained significant popularity due to its utility within the Binance ecosystem. However, ERC20 tokens have a larger market presence and are more widely accepted across different exchanges and platforms. Both BNB and ERC20 tokens have their own advantages and use cases, so it ultimately depends on your specific needs and preferences when choosing between them.
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