“Build & Build” – More Than Just Another Exchange-Based Cryptocurrency.
BNB (BNB) Fact Sheet
- BNB (BNB) is the native cryptocurrency designed to power the Binance global ecosystem based on their proprietary blockchain BNB Smart Chain.
- BNB was created in June of 2017 as “Binance Coin” on Binance Chain and followed the ERC-20 token standard since it was built on Ethereum (ETH).
- In April 2019, Binance launched its own blockchain network, now known as the BNB Beacon Chain, where BNB became the native token and no longer required Ethereum's back-end.
- Binance Chain was rebranded to the BNB Beacon Chain, the Binance Smart Chain was rebranded to the BNB Smart Chain, and Binance Coin is now simply named BNB, where BNB stands for "Build and Build."
- The BNB Smart Chain is an Ethereum Virtual Machine (EVM) compatible network. It utilizes a consensus mechanism known as Proof-of-Staked Authority (PoSA), and within this system, BNB is used for the process of delegated staking on the authority validator.
- BNB has a multitude of different use-cases, both on the blockchain and the Binance cryptocurrency exchange, where users can receive additional discounts on the fees, access payments on third-party services, or even participate within the Binance Launchpad.
BNB Historical Data Price Chart in U.S. Dollars (USD)