#bnb
The BNB (Binance Coin) is the native digital currency of the Binance platform, and it is one of the largest cryptocurrency exchanges in the world by trading volume.
Origin and Development of BNB: BNB was launched in July 2017 as an ERC-20 token on the Ethereum blockchain.
In 2019, BNB migrated to its own blockchain, Binance Chain.
In September 2020, Binance launched the Binance Smart Chain (BSC), which operates in parallel with Binance Chain and supports smart contracts.
In 2022, BSC was merged with the older Binance Chain and rebranded as BNB Chain.
Uses and Benefits of BNB
Trading Fees: BNB can be used to pay trading fees on the Binance platform, and users often receive discounts when using it.
Transaction Fees: BNB is used to pay transaction fees on the BNB Chain network (including BNB Smart Chain).
Participation in Launchpad: BNB holders can participate in new cryptocurrency projects that are launched on the Binance platform.
Investment and Staking: BNB can be staked to earn rewards and participate in network governance.
Payments: BNB can be used as a means of payment in some stores and online services, as well as for booking hotels and flights.
Collateral for Loans: In some platforms, BNB can be used as collateral for obtaining loans.
Decentralized Applications (dApps): BNB is used to fund and operate decentralized applications on the BNB Chain.
Burn Mechanism (BNB Burn): Binance periodically
