BEP20 and ERC20 network. The same address
Why is the address for tokens on the BEP20 network the same as on the ERC20 network? However, I understand that during transactions on BEP20, you do not have to bear as high gas fees as on ERC20?
Why is the address for tokens on the BEP20 network the same as on the ERC20 network? However, I understand that during transactions on BEP20, you do not have to bear as high gas fees as on ERC20?
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The address for tokens on the BEP20 network is the same as for those on the ERC20 network, as both networks use the same standard of addressing based on Ethereum. The key to this standard is Ethereum blockchain technology, whose addresses are formatted in a way that is compatible for both ERC20 (Ethereum network) and BEP20 (Binance Smart Chain network). Both types of tokens use Ethereum addresses, as Binance Smart Chain is built in a way that is compatible with Ethereum, meaning it utilizes many of the same technologies and standards, including address format.
As for transaction fees, the Binance Smart Chain network (BEP20) typically offers much lower transaction costs, also known as gas fees, compared to the Ethereum network (ERC20). This is because Binance Smart Chain is designed to be more efficient and less costly to use, which is one of the reasons why some users and developers may prefer this network for their projects and transactions, especially for smaller transactions or in situations where high gas fees on Ethereum could be impractical.
The address for tokens on the BEP20 network is the same as for those on the ERC20 network, as both networks use the same standard of addressing based on Ethereum. The key to this standard is Ethereum blockchain technology, whose addresses are formatted in a way that is compatible for both ERC20 (Ethereum network) and BEP20 (Binance Smart Chain network). Both types of tokens use Ethereum addresses, as Binance Smart Chain is built in a way that is compatible with Ethereum, meaning it utilizes many of the same technologies and standards, including address format.
As for transaction fees, the Binance Smart Chain network (BEP20) typically offers much lower transaction costs, also known as gas fees, compared to the Ethereum network (ERC20). This is because Binance Smart Chain is designed to be more efficient and less costly to use, which is one of the reasons why some users and developers may prefer this network for their projects and transactions, especially for smaller transactions or in situations where high gas fees on Ethereum could be impractical.
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