BNB (Build and Build), formerly known as Binance Coin, is a cryptocurrency that powers the Binance ecosystem—one of the largest cryptocurrency exchanges in the world. Launched in 2017 through an Initial Coin Offering (ICO), BNB has evolved beyond just a trading token, becoming a critical component of the Binance Smart Chain (BSC) and a utility token with a wide array of use cases.
BNB was initially issued as an ERC-20 token on the Ethereum blockchain with a total supply of 200 million coins. In 2019, Binance launched its own blockchain, Binance Chain, and migrated BNB to this new network, later expanding its ecosystem with the Binance Smart Chain (now part of BNB Chain). The BNB Chain supports smart contracts and decentralized applications (dApps), allowing BNB to take a central role in decentralized finance (DeFi).
BNB operates on the BNB Chain, a combination of the Binance Chain and Binance Smart Chain, enabling fast and low-cost transactions. As a native coin of the chain, BNB is used for paying transaction (gas) fees, participating in token sales on Binance Launchpad, and powering decentralized applications (dApps). It's also widely accepted for travel bookings, entertainment, online services, and even financial services.
