BNB (BNB), previously also known as Binance Coin (BNB), is a cryptocurrency coin created and issued by the cryptocurrency exchange Binance. Initially created on the Ethereum blockchain as an ERC-20 token in July 2017, BNB was migrated over to BNB Smart Chain in February 2019 and became the native coin of the Binance Chain.
BNB can be used to pay for fees when trading on Binance, and usually at a discounted rate. Due to the primary utility, BNB has seen massive growth in interest throughout the years . Several rounds of token burn events have appreciated BNB price and pushed it up as one of the top-10 cryptocurrencies by market capitalization.
What is Binance?
Binance is the cryptocurrency exchange founded by Changpeng Zhao and He Yi in July 2017. Binance started with an Initial Coin Offering (ICO) and has since grown into one of the largest global cryptocurrency exchanges, both in terms of volume traded and market share by web traffic.
Ethereum is a Proof-of-Stake blockchain that powers decentralized applications (dApps) through smart contracts, without being controlled by a centralized entity.
Cardano is a proof-of-stake blockchain network built with leading academics and research that supports decentralized applications (dApps) with a multi-asset ledger and smart contracts.
Ripple is a privately-held fintech company that provides a global payment solution via its patented payment network called Ripple Network (also known as RippleNet).