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Currently all tokens are built on top of the BSC. The Binance Smart Chain (BSC) is a blockchain system developed by the crypto-trading platform Binance. Since its launch in 2020, it has established itself as one of the leading blockchains for DeFi and dApp development. Some of its key features include smart contract functionality and compatibility with Ethereum Virtual Machine (EVM).
Binance Smart Chain is completely independent of the Binance network. This means that even if the Binance network is down, Binance Smart Chain can still run normally. It is built on a dual-chain architecture. It allows users to develop their decentralized apps and digital assets on a single blockchain.
Duckie Land Multi Metaverse Token ($MMETA) token as governance token as well as Wonderful Amazing Fantastic Excellent Reward Token ($WAFER) as reward token is built on BEP-20 token. BEP-20 token is a cryptocurrency token which is developed from the Binance Smart Chain Blockchain platform. Therefore, it is named after its native blockchain platform as BEP-20 token, which is now trending the global market mainly in the DeFi platform. BEP-20 token is used in DeFi protocol like Uniswap, PancakeSwap and others.
Duckie NFT is built on BEP-721 token. The BEP-721 tokens are a standard for NFT creation. Since it can create unique IDs for each token, it is the best option for a representative token on collectibles. With this token ownership of data can be tokenized and attached to a unique identifier. This sets it apart from the BEP-721 from the BEP-20 tokens. With BEP-20 tokens, multiple identical copies of a token can be created with one smart contract. Whereas BEP-721 adds a unique identifier to each making it the perfect option for NFT standards. The tokens can represent collectibles like digital or physical art, in-game purchases, real estate assets, and lottery tickets.
With the new BSC-based NFT, BEP-721, the innovative features that set BSC apart like speed, low fees, and reliability can be leveraged for NFT swaps. This makes the token neck to neck with Ethereum’s ETH-721. What’s more, BEP-721 is supported throughout various platforms making it the ideal token for a beginner. With cheaper gas fees and faster transactions on BSC, it is a more attractive choice compared to Ethereum. What’s more, the BEP-721 is compatible with Ethereum Virtual Machine. EVM is a standard interface that sets rules for NFT trade, making it an easier process.
Last modified 2yr ago