BNB (Binance Coin) History:

1. Launch and Origin (2017):

Binance Coin (BNB) was launched in July 2017 through an Initial Coin Offering (ICO).

It was created by Changpeng Zhao (CZ), the founder of Binance, which has become one of the world’s largest cryptocurrency exchanges.

Initially, BNB was launched as an ERC-20 token on the Ethereum blockchain.

2. Purpose and Utility:

BNB was originally used to pay for trading fees on the Binance exchange, offering users a discount when they used BNB instead of other currencies.

Over time, its use expanded to include transaction fees, token sales on Binance Launchpad, and payments for goods and services.

3. Binance Chain and Mainnet Swap (2019):

In April 2019, Binance launched its own blockchain called Binance Chain.

BNB was moved from Ethereum to Binance Chain through a mainnet swap, becoming the native asset of the new chain.

4. Binance Smart Chain (2020):

In September 2020, Binance launched Binance Smart Chain (BSC) — a parallel blockchain with smart contract functionality similar to Ethereum.

BNB became the native token of BSC as well, used to pay for gas (transaction fees).

5. Token Burn:

Binance committed to burning (destroying) a portion of BNB regularly to reduce supply and increase scarcity.

These burns are based on the trading volume on Binance and occur quarterly.

6. BNB Uses Today:

Pay for trading fees on Binance.

Participate in token sales on Binance Launchpad.

Used in DeFi apps, NFTs, and more on BSC.

Accepted by merchants for payments.

7. Regulation and Scrutiny (2023–2024):

Binance and BNB have faced regulatory scrutiny in various countries.

In 2023, Binance settled with U.S. authorities for regulatory violations, leading to CZ stepping down as CEO.