BNB Specifications

Type

COIN

Algorithm

dBFT

Protocol

POS

Start Date

08/07/2017

Max Supply

200,000,000

Circ. Supply

144,005,538

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Info

BNB (Binance Coin) is the native cryptocurrency of the Binance ecosystem, widely recognized for its versatility and efficiency. It is the primary token powering Binance Smart Chain (BSC), where it supports decentralized applications and facilitates seamless token swaps. Additionally, BNB is used as a medium of exchange within Binance's services, offering value in both centralized and decentralized contexts.

Market Impact

BNB has had a transformative effect on the cryptocurrency market, offering a fast and cost-efficient way to facilitate token swaps and transactions. It has become a vital component of DeFi on Binance Smart Chain, driving liquidity and innovation. Beyond its role in decentralized platforms, BNB's acceptance for payments and utility in exchanges has solidified its position as one of the most influential cryptocurrencies in the market.

History

BNB was created during Binance's 2017 Initial Coin Offering (ICO) as a utility token for reducing trading fees on its exchange. Initially launched on Ethereum as an ERC-20 token, it migrated to Binance Chain in 2019 to serve as the network's native cryptocurrency. The development of Binance Smart Chain expanded BNB's functionality, enabling its use in DeFi projects, blockchain payments and token swaps. This evolution transformed BNB from a discount token into a versatile, multi-purpose asset.

Features

Multi-Chain Compatibility
BNB operates within the BNB Chain ecosystem, which includes BNB Beacon Chain for governance and staking, and BNB Smart Chain (BSC) for EVM-compatible decentralized applications and low-cost transactions.
DeFi Utility Asset
BNB plays a key role in decentralized finance, enabling users to access token swaps, liquidity pools, and other blockchain-based financial tools.
Global Payment Integration
BNB is widely accepted for payments and used for exchanges, making it a trusted currency for both online and real-world transactions.

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*The indicators above, do not represent an investment advice and should not be treated as such. Please make your own research and risk assessment before exchanging your assets.