$BNB
BNB (Binance Coin) is the native cryptocurrency of Binance, one of the world's largest cryptocurrency exchanges. It was originally launched in 2017 as an ERC-20 token on the Ethereum blockchain but later migrated to Binance's own blockchain, Binance Chain.
Key Features of BNB:
Utility Token: BNB is primarily used to pay for transaction fees on Binance, offering discounts to users who use it for trading fees.
Binance Smart Chain (BSC): BNB powers Binance Smart Chain, a blockchain designed for fast and low-cost decentralized applications (DApps) and smart contracts.
Burning Mechanism: Binance periodically burns (destroys) BNB to reduce its total supply and increase scarcity, which can help maintain its value over time.
Use Cases: Apart from trading fees, BNB can be used for payments, token sales, travel bookings, and even in decentralized finance (DeFi) applications.
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