BNB (Build and Build), formerly known as Binance Coin, is a cryptocurrency created by Binance, one of the world’s largest cryptocurrency exchanges. Launched in 2017, BNB was initially an ERC-20 token on the Ethereum blockchain but later migrated to its own blockchain, Binance Chain. BNB is used to pay for trading fees on Binance, participate in token sales, and power applications on Binance Smart Chain (BSC), a parallel blockchain optimized for smart contracts and DeFi. Its utility has expanded across various ecosystems, including gaming, travel, and NFTs. BNB also undergoes regular coin burns, reducing its supply to increase scarcity and potentially raise value over time, making it a prominent crypto asset.
