ALL ABOUT $BNB COIN โ
Binance Coin (BNB) is a cryptocurrency that can be used for a variety of purposes, including trading, paying fees, and making purchases:ย
What it is๐ค
BNB is the native cryptocurrency of the Binance exchange, the world's largest cryptocurrency exchange.ย It was created in 2017 by Changpen Zhao, also known as CZ.ย
How it's used๐
BNB can be used to pay for transaction fees, travel bookings, entertainment, online services, and financial services.ย It can also be used to participate in exclusive token sales.ย
How it works๐ค
BNB was originally launched as an ERC-20 token on the Ethereum blockchain, but has since migrated to its own blockchain, the BNB Chain.ย The BNB Chain uses a combination of Proof of Stake (PoS) and Proof of Authority (PoA) consensus mechanisms to validate network transactions.ย
How its supply is managed๐ค
The original total supply of BNB was 200 million coins, but the supply is gradually decreased through regular coin burn events.ย This helps to maintain the coin's value stability.ย
How to buy it๐ค
You can buy BNB from more than 50 top exchanges, but many users prefer to use the Binance crypto exchange.ย To buy BNB on the Binance exchange, you will need to sign up and submit the necessary documents to meet the required Know Your Customer (KYC) process.