### Overview of Binance Coin (BNB)
**Origin and Background:**
- **Launch:** Binance Coin (BNB) was launched in July 2017 through an Initial Coin Offering (ICO) by Binance, one of the world’s largest cryptocurrency exchanges.
- **Founder:** Changpeng Zhao, commonly known as CZ, is the founder of Binance and the brain behind BNB.
**Key Features:**
1. **Native Token of Binance Exchange:**
- BNB is primarily used to pay for trading fees on the Binance exchange.
- Users can receive discounts on trading fees when they use BNB.
2. **Utility and Use Cases:**
- **Transaction Fees:** BNB can be used to pay transaction fees on the Binance platform, including Binance Smart Chain (BSC), which offers lower fees compared to other blockchains.
- **Binance Ecosystem:** It is used within the Binance ecosystem for various purposes, including participating in token sales on Binance Launchpad, paying for transaction fees on Binance DEX (decentralized exchange), and more.
- **Travel and Entertainment:** BNB can be used for booking travel arrangements, purchasing virtual gifts, and more through various partnerships.
3. **Burning Mechanism:**
- Binance conducts quarterly "burns" of BNB, where a portion of the total supply is permanently destroyed. This is done to reduce the total supply and increase scarcity, potentially increasing the value of the remaining coins.
- The amount burned is based on the trading volume on the Binance exchange.
4. **Binance Smart Chain (BSC):**
- BNB is the native coin of the Binance Smart Chain, a blockchain that supports smart contracts and decentralized applications (dApps).
- BSC offers compatibility with the Ethereum Virtual Machine (EVM), allowing for the easy porting of Ethereum-based projects to BSC.