BNB (Binance Coin) is the native cryptocurrency of the Binance exchange, introduced in 2017 by Binance. Initially created as an ERC-20 token on the Ethereum blockchain, BNB later migrated to Binance's own blockchain, Binance Chain. BNB serves multiple functions within the Binance ecosystem, including discounted trading fees, participation in token sales on Binance Launchpad, and payments for goods and services. Its growing utility, coupled with Binance's strong reputation and user base, has propelled BNB to become one of the top cryptocurrencies by market capitalization. BNB's continued development and integration into various Binance products and services further enhance its value and utility in the cryptocurrency space.
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