BEP-2 (Binance Chain Tokenization Standard) is a standard management methodology for utilizing tokens on the BNB Beacon Chain (previously Binance Chain).
Understanding the Term;
BEP-2 is a standard administrative model that defines a set of rules that tokens should follow to function within the Binance Chain ecosystem. These rules ensure that all of the tokens that symbolize unique trading goods and assets can be in harmony within the Binance Chain ecosystem and can seamlessly interact with each other.
BEP2 is the standard token format for Binance Coin (BNB) for all transactions on the Binance cryptocurrency exchange platform.