BNB (Binance Coin) is a cryptocurrency created by Binance, one of the world's leading cryptocurrency exchanges. Initially launched as an ERC-20 token on the Ethereum blockchain in 2017, BNB later transitioned to its own blockchain, the Binance Chain. BNB was primarily designed to facilitate trading fee discounts on the Binance platform, but its utility has since expanded significantly.
Users can now employ BNB for a variety of purposes, including transaction fees on the Binance Chain, staking, and participation in token sales on the Binance Launchpad. Additionally, BNB can be used for online services, travel bookings, and even financial services, thanks to partnerships with various companies. BNB's increasing use cases and integration within the Binance ecosystem have contributed to its substantial growth and popularity in the crypto market.
