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SmartChains

Basics

A smart chain is an evolution of a basic block chain.  On a smart chain, additional functionality can be executed beyond just the tracking of a cryptocurrency.  Typically these are encapsulated into sections of code known as smart contracts.  These smart contracts can be executed to create or transfer tokens, NFTs or other commodities.  

Ethereum BlockChain

The Ethereum blockchain is designed to run smart contracts natively, and is the template on which a number of other smart chains are based.

The standard for Ethereum tokens is ERC-20 (Ethereum Request for Comments 20)

More information can be found here

Binance Smart Chain (BSC)

The Binance Smart Chain is currently the second largest smart contract chain.  

The token standard on the BSC is BEP-20, which is an extension of the Ethereum’s ERC-20 token standard.  This standard is akin to a blue-print, defining how they can be spent, who can spend them, etc.

More information can be found here

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