BEP-20 is a token standard on Binance Smart Chain that expands ERC-20, the most common Ethereum token standard. You can think of it as an outline for tokens that characterizes how they can be spent, who can spend them, and different rules for their utilization. Due to its similitude to Binance Chain's BEP-2 and Ethereum's ERC-20, it's viable with both.
BEP-20 was imagined as a technical detail for Binance Smart Chain, fully intent on giving a flexible configuration to engineers to send off a scope of various tokens. These could address anything from shares in a business to dollars stored in a bank vault (i.e., a stablecoin).
Of course, one could similarly make a native asset as a BEP-20 token, or even peg tokens from other blockchains to make them usable on Binance Smart Chain. This is how's managed "Peggy" coins, which are basically BEP-20 variants of other crypto assets (like LINK or XRP).
Like BEP-2 tokens on Binance Chain, BEP-20 token transfers are fuelled with BNB. This gives an incentive to validators to remember the transactions for the blockchain, as they'll collect the BNB as a fee for their difficulties.
You might realize that Binance Smart Chain was imagined as something of an extension to Binance Chain. With double chain architecture, the two chains are complementary - Binance Smart Chain takes care of decentralized applications without clogging the original chain, which is optimized for super quick trading.
In view of this architecture, heavy accentuation was put on cross-chain similarity. Hence, BEP-2 tokens can be swapped for their BEP-20 equivalent. The least demanding method for doing so is maybe through the Binance Chain Wallet extension, however more methods will without a doubt arise over the long haul.
For a more itemized take a gander at the BEP-20 standard, make certain to check out the draft proposal on GitHub.