#MarketCorrectionBuyOrHOLD

BNB White Paper Highlights

BNB (Binance Coin) is a utility token created for the ecosystem of the world's largest cryptocurrency exchange, Binance. Unlike Bitcoin, the BNB White Paper is not as detailed and technical as BNB was developed as an add-on to an existing platform.

BNB's main goals and functions:

Trading discounts: BNB was originally created to provide discounts on trading fees on the Binance exchange.

Payment for services: Over time, the scope of BNB has expanded. It can be used to pay for various services on the Binance platform, such as token listing, margin trading, etc.

Stake in the development of the Binance ecosystem: BNB holders can participate in the management of the platform and receive rewards from the development of the Binance Smart Chain ecosystem.

Token Buyback Reserves: A portion of the exchange's profits are used to buy back BNB tokens from the market, which helps reduce the total supply and is expected to increase its value.

Key Differences from the Bitcoin White Paper:

Centralization: Unlike decentralized Bitcoin, BNB is closely tied to the centralized Binance exchange.