**BNB** (formerly known as Binance Coin) is the official cryptocurrency of **Binance**, one of the world’s largest cryptocurrency exchanges. Launched in 2017 as an **ERC-20 token** on the Ethereum blockchain, it migrated to Binance’s native blockchain, **Binance Chain**, in 2019. Initially designed to offer users discounted trading fees on the platform, BNB has evolved into a cornerstone of the Binance ecosystem.

Today, BNB is used to pay transaction fees, book travel, purchase goods, and participate in new token launches via Binance Launchpad. It also powers the **BNB Smart Chain (BSC)**, a blockchain enabling decentralized applications (dApps) and smart contracts, positioning BNB as a key player in decentralized finance (DeFi).

BNB employs a periodic **"burn" mechanism** to reduce its total supply over time, enhancing scarcity. Its value has surged alongside Binance’s growth and BSC’s adoption, though it faces challenges like regulatory scrutiny and its price’s dependency on Binance’s performance. BNB blends utility and investment potential, but its future hinges on global regulatory trends toward cryptocurrencies.$BNB