#2024WithBinance
Binance Coin (BNB): A Leading Cryptocurrency
Binance Coin (BNB) is the native cryptocurrency of the Binance ecosystem, introduced in 2017. Initially launched on the Ethereum blockchain as an ERC-20 token, it later migrated to Binance’s proprietary Binance Chain.
Key Features:
1. Utility Token: BNB is primarily used for reducing trading fees on the Binance exchange and participating in token sales on Binance Launchpad.
2. Burn Mechanism: Binance regularly burns (destroys) a portion of BNB supply to increase scarcity and value.
3. DeFi and NFTs: BNB is widely used in decentralized finance (DeFi) and as a currency in non-fungible token (NFT) platforms.
With its versatility and consistent growth, BNB has become one of the most prominent cryptocurrencies, powering the world’s largest crypto exchange and its extensive ecosystem.