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Since its inception in 2017, Binance has become one of the largest brands in the blockchain industry. Aside from being the largest crypto exchange, it has launched an entire ecosystem of crypto-related functionalities. BNB is an integral component of this ecosystem.

In the weeks before the launch of the exchange, the company offered BNB to early investors via an initial coin offering (ICO). The coin was priced at about $0.11 per unit during this phase, and has traded above $600 in 2024. Outside of operating as an exchange, Binance runs multiple blockchains within its interconnected ecosystem. The architecture consists of the following blockchains:

BNB Beacon Chain: handles governance across the network, which includes staking and voting on proposed changes to the network. (Previously known as Binance Chain.) However, this chain is soon to be retired in June 2024.