$BNB "Build and Build" (formerly Binance Coin) is the native cryptocurrency of the BNB Chain ecosystem, developed with the support of the cryptocurrency exchange Binance. Launched in 2017, BNB has evolved from being a discount token for trading fees on the Binance exchange to a multifunctional asset that powers a vast network of decentralized applications (dApps) and Web3 services.
Its main uses include paying transaction fees on the BNB Smart Chain (BSC), participating in network governance, staking to secure the chain and earn rewards, and accessing discounts on the Binance exchange. Additionally, BNB is used in various decentralized finance (DeFi) applications, NFT marketplaces, and for real-world payment purposes, such as travel and shopping. BNB operates under a Delegated Proof of Stake (PoSA) consensus mechanism, allowing it to offer fast and low-cost transactions.
