Key points about BNB:
1. Applications: BNB is used in cases such as paying transaction fees, purchasing some products, and participating in Initial Coin Offerings (ICO). Binance also burns (removes from circulation) a portion of BNB tokens every quarter to limit supply and thus prop up the price.
2. Binance Blockchain: BNB was initially created as an Ethereum-based token (ERC-20), but with the launch of the Binance Chain and then the Binance Smart Chain, this token was transferred to its own network and Currently, it is known as the native token of these networks.
3. BNB Smart Chain: One of the Binance networks designed to implement smart contracts and decentralized applications (DApps). With lower fees and higher transaction speeds, this network has become a competitor to Ethereum.
4. Supply Limit: The total number of BNB is limited to 200 million, and this number decreases with each stage of token burning.
5. Application in the DeFi Ecosystem: Binance Smart China, supported by BNB, is active in various areas of decentralized finance (DeFi) and many projects have been launched in this platform.
These features have made BNB a widely used and relatively stable cryptocurrency that will increase in value over time as more demand and new applications are added to the Binance ecosystem.
