BNB (Build and Build), formerly Binance Coin, is the native cryptocurrency of the BNB Chain ecosystem, developed by Binance, the world's largest crypto exchange. Launched in 2017, it initially offered trading fee discounts on Binance.
Today, BNB powers the BNB Smart Chain (BSC), enabling fast, low-cost transactions and smart contract functionality for DeFi, NFTs, and dApps. It's also used for paying network fees, participating in governance, and as a payment method across various services. Binance also conducts quarterly "burns" of BNB, reducing its supply to enhance its value.
