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Binance is a global cryptocurrency exchange platform that allows users to trade a wide variety of cryptocurrencies. It was founded in 2017 and has since become one of the largest and most popular exchanges in the world. Binance operates on a blockchain known as Binance Chain, which powers its own cryptocurrency, Binance Coin (BNB). The blockchain is designed for fast, decentralized transactions, offering features like decentralized applications (dApps) and the ability to create custom tokens. Binance also introduced Binance Smart Chain (BSC), which supports decentralized finance (DeFi) applications and offers lower fees compared to Ethereum.