BNB

What is Binance Coin (BNB)?

Binance Coin (BNB) is the native cryptocurrency of the Binance ecosystem, one of the largest cryptocurrency exchanges in the world. BNB was originally launched in 2017 as an ERC-20 token on Ethereum, but it was later migrated to Binance’s own blockchain — the BNB Chain (formerly known as Binance Chain and Binance Smart Chain).

Key Features of BNB

1. Utility Token
   BNB is primarily used to pay for trading fees on Binance with discounts, making it a core part of the platform’s incentive system.

2. BNB Chain Ecosystem
   BNB powers transactions on the BNB Smart Chain (BSC), which supports smart contracts and decentralized applications (dApps), similar to Ethereum.

3. Deflationary Token
   Binance regularly performs BNB burns (buybacks and destruction of coins) to reduce the total supply over time, which can help support the token’s value.

4. Wide Usage
   Besides paying for trading fees, BNB can be used in:

   • DeFi applications

   • Token sales on Binance Launchpad

   • NFT platforms

   • Travel bookings, gaming, and more

BNB Chain Components

• BNB Beacon Chain: Handles governance and staking.

• BNB Smart Chain (BSC): Supports smart contracts, compatible with Ethereum Virtual Machine (EVM).

Why BNB Is Important

• It’s deeply integrated with the world’s largest crypto exchange by trading volume.

• It has a growing ecosystem of dApps, DeFi, NFTs, and GameFi projects.

• It benefits from Binance’s global brand and community.