LIVEBuild and Build
🔆$BNB 🔆
(The explanation)
❗️Overview❗️
♨️Short for “Build and Build,” BNB is the native crypto asset of the #Binance ecosystem. Binance essentially began as just a crypto exchange, but it has since branched out in its offerings. It launched Binance Coin in 2017 via an initial coin offering (ICO). In 2022, Binance unveiled a rebranding that included changing the asset’s name from Binance Coin (BNB) to simply BNB, abandoning the name Binance Coin.
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♨️BNB serves several roles, including as a method of fee reduction on the Binance exchange and as the currency in which to pay fees for activities on BNB Chain, BNB’s underlying blockchain ecosystem. BNB price can be valued in U.S. dollars (USD). The BNB price USD value is shown live at the top of the page. The BNB price chart above shows the BNB coin price history.
❗️BNB History❗️
♨️Binance got its start in 2017, quickly launching an ICO in which it sold and allocated BNB tokens. Back then, Binance Coin (BNB’s name at the time) was an ERC-20 token on the Ethereum blockchain. However, in 2019, Binance launched a mainnet blockchain, Binance Chain (BC), with BNB as its coin. The exchange conducted a token swap to change ERC-20 BNB tokens over to Binance Chain-based BNB coins. In 2020, Binance Smart Chain (BSC) was launched as a separate compatible blockchain alongside Binance Chain.
♨️In 2022, Binance merged the Binance Chain and Binance Smart Chain ecosystems under a single label: BNB Chain. Both chains still run parallel and serve distinct roles but are housed under a single name.
❗️Binance’s regulatory journey❗️
♨️In the years since Binance’s 2017 inception, regulators across the globe have increased their activity in the crypto industry. Crackdowns have occurred on an array of industry players, including Binance.
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