Binance Coin (BNB) is a native cryptocurrency of a high-speed blockchain designed to support fast and low-cost transactions. Originally created as an ERC-20 token, BNB migrated to its own blockchain called Binance Chain. BNB is used for a variety of purposes within its ecosystem, such as paying transaction fees, participating in token launch platforms, and in decentralized applications (dApps). It is also used as gas currency in the Binance Smart Chain (BSC), facilitating interaction with smart contracts and DeFi applications.
Binance Coin (BNB) allows for trading and paying fees on the cryptocurrency exchange platform Binance. Since 2018, Binance has been the largest cryptocurrency exchange platform in the world, with over 1.4 million transactions per second.
