Oh, dear explorers of the crypto world, are you ready for a journey through time with one of the most famous currencies in the market? Let’s tell you the story of BNB! ✨
In the very beginning, in 2017, BNB (whose full name is Binance Coin) was just a small ERC-20 token living on the Ethereum network. Its goal was simple and straightforward: to give its holder a discount on trading fees on the then-new Binance platform. It was just a nice "digital discount voucher"! 😊
After a short while, Binance decided to build its own house. So BNB moved from the Ethereum network to its own Binance network (Binance Chain) and became the native currency of this network. This was an important step that led to the creation of a unique ecosystem for Binance.
But the major turning point that took BNB to giant heights was the launch of Binance Smart Chain (BSC) in September 2020 (which later became BNB Chain with the original Binance network). Here, everything changed completely!
BSC added the ability for smart contracts and decentralized applications (dApps) that existed on Ethereum, but with much faster speeds and much lower fees at that time. This opened the door for an explosion in the use of BNB!
What happened to BNB after that?
BNB is no longer just a discount currency. It has become the main "fuel" for everything happening on BNB Chain. You use it to pay transaction fees (Gas Fees) on the network, participate in staking and securing the network, engage in DeFi projects, buy NFTs, and participate in new project launches on Binance Launchpad.
With the BNB Chain ecosystem growing wildly and the uses of BNB increasing, its value began to rise significantly over time. From just a token worth a few cents at its launch, BNB rose to become one of the largest cryptocurrencies by market capitalization in the crypto world.
In 2025:
Today, BNB is the backbone of one of the largest ecosystems in the world of web 3. It is the currency that connects the centralized Binance platform, the decentralized BNB Chain, and a vast and diverse array of applications and projects.
The story of BNB is a story of a currency that succeeded in evolving, adapting, and continuously expanding its uses, from just a tool for fee reduction to an indispensable player in the blockchain world. A journey full of challenges, growth, and transformations!
What do you think of the story of BNB's rise? What important role do you see it playing in the crypto world today in 2025? Share your thoughts with us! 👇
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