ERC-20 began as a simple proposal that has become the standard outline for token launches across blockchain.
Now across blockchains, standard token types and programming outlines exist that help guide and facilitate smart contract creation without having to rewrite an entire contract from zero.
From the creation of the most common stablecoins to Non-Fungible Tokens and DeFi assets, the ERC-20 is one of the backbones to all of cryptocurrency.
These token standards are likely only the beginning.
The simplicity was bold, but so was the flexibility.
Nevertheless, the usefulness of ERC-20 and BEP-20 are impossible to ignore until that happens.

Source - https://www.bsc.news/post/what-is-the-difference-between-an-erc-20-and-bep-20-token

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