In 2017, tech entrepreneur **Changpeng Zhao (CZ)** founded Binance and launched **BNB** — a token that initially cost only $0.11. Today, it is not just a cryptocurrency, but a **key to everything created in the Binance ecosystem**: from fee discounts to participation in exclusive token sales.
🪙 What is BNB?
This is a utility token used for:
- Discounted fee payments on Binance
- Participation in Launchpad (IEO)
- Staking and DeFi products
- Payments for goods and services in partner networks
- Voting in the Binance ecosystem
What distinguishes BNB from other coins - "Speed and low cost": Thanks to the hybrid PoSA (Proof of Stake Authority) mechanism, transactions on the BNB Chain are faster and cheaper than on Ethereum.
- **Auto-Burn**: Binance regularly burns a portion of BNB, reducing the total supply — this supports scarcity and potentially increases the price.
- Deep integration: BNB is not just an asset, but fuel for the entire Binance ecosystem: exchange, NFT, gaming, Web3.
📈 Why hold BNB? - Fee discounts — savings for active traders
- Early access to new tokens
- Staking and passive income opportunity
- Growing ecosystem with global reach
🟨 [Buy BNB on Binance](https://calebandbrown.com/blog/what-is-bnb/) — it's not just an investment, it's an entry ticket to the world of Web3, DeFi, and the future of finance.
