What is BNB?
BNB is the native utility token of the Binance exchange, the largest cryptocurrency exchange in the world. It is also the native cryptocurrency of the BNB Chain, a blockchain network launched by Binance. BNB was first issued in 2017 through an Initial Coin Offering (ICO) and has since become one of the most profitable investments in the cryptocurrency market.
BNB goals
The purpose of BNB is to cover exchange transaction fees and participate in crypto sales. It also has various other use cases, including trading fee discounts, token swaps, gaming platforms, NFT support, and decentralized applications. Additionally, BNB can be used to invest in stocks and ETFs, as collateral for loans, and to split expenses or pay friends and relatives on certain platforms.
Marketcap
$104.45B
Total number of BNB
145887576 BNB
BNB technology
Binance's multiple chains and platforms use a unique combination of Proof of Stake (PoS) and Proof of Authority (PoA) consensus mechanisms to validate transactions. The BNB Chain is a decentralized blockchain ecosystem focused on providing infrastructure for the Web3 economy, offering services such as decentralized data management, layer-2 scaling, and solutions for decentralized finance (DeFi).
BNB competitors
Binance Coin (BNB) differentiates itself from competitors by being the native cryptocurrency of the largest cryptocurrency exchange in the world. Its competitive advantages include its wide range of use cases and its strong backing by the Binance ecosystem.
BNB price history
Frequently asked questions
BNB is the native utility token of the Binance exchange, the largest cryptocurrency exchange in the world.
BNB was founded in 2017 by tech entrepreneur Changpeng Zhao (AKA CZ).
The BNB Chain is a decentralized blockchain ecosystem focused on providing infrastructure for the Web3 economy, offering services such as decentralized data management, layer-2 scaling, and solutions for decentralized finance (DeFi).
The purpose of BNB is to cover exchange transaction fees and participate in crypto sales.
BNB has various use cases, including trading fee discounts, token swaps, gaming platforms, NFT support, and decentralized applications.
Yes, BNB is available on multiple chains, including the Binance Chain, BNB Smart Chain, and BNB Beacon Chain.
Binance's multiple chains and platforms use a unique combination of Proof of Stake (PoS) and Proof of Authority (PoA) consensus mechanisms to validate transactions.
Yes, BNB can be used to invest in stocks and ETFs, as collateral for loans, and to split expenses or pay friends and relatives on certain platforms.
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