What is Binance Coin $BNB
BNB is the digital currency of the Binance platform, the largest cryptocurrency exchange in the world.
It was launched in 2017 as an ERC-20 token on the Ethereum network, and later migrated to its own network.
It is used to pay trading fees within the Binance platform in exchange for discounts.
It can be used on other platforms and services such as travel, shopping, and even blockchain games.
A dedicated network known as BNB Chain (formerly Binance Smart Chain) was developed.
The network allows for the creation of decentralized applications (DApps) and smart contracts.
Transaction fees on BNB Chain are low compared to Ethereum.
BNB is used in decentralized finance (DeFi) projects on its network.
Binance periodically burns (Burn) a portion of BNB coins to reduce supply and increase value.
The maximum supply of coins is 200 million BNB, which is gradually reduced.
BNB is considered one of the highest valued coins by market capitalization after Bitcoin and Ethereum.
It can be stored in wallets such as Trust Wallet or MetaMask.
BNB is seen as a versatile tool, combining investment and operational utility.
