#BitcoinHashRateSurge
Here are some key facts about Binance Coin
1. _Created in 2017_: BNB was created by Binance, one of the world's largest cryptocurrency exchanges.
2. _Utility token_: BNB is a utility token that can be used to pay for trading fees, listing fees, and other services on the Binance platform.
3. _Discounts_: Using BNB to pay for fees on Binance can provide discounts of up to 50%.
4. _Burn mechanism_: Binance has a burn mechanism in place, which destroys a portion of the BNB supply every quarter to reduce supply and increase demand.
5. _Smart Chain_: BNB is the native cryptocurrency of the Binance Smart Chain (BSC), a blockchain platform that allows for the creation of decentralized applications (dApps).
6. _Market capitalization_: BNB has a market capitalization of over $40 billion, making it one of the top 5 cryptocurrencies by market capitalization.
7. _Partnerships_: Binance has partnered with various companies, including Paxos, Swipe, and (link unavailable), to expand the use cases of BNB.
8. _Staking_: BNB can be staked on the Binance platform to earn rewards and participate in the validation process of the BSC.
9. _Regulatory compliance_: Binance has implemented various measures to ensure regulatory compliance, including Know-Your-Customer (KYC) and Anti-Money-Laundering (AML) procedures.
10. _Community support_: BNB has a strong community of supporters, with various initiatives and projects underway to promote the adoption and development of the Binance ecosystem.