Binance Coin is a digital asset created by the Binance Bitcoin exchange to serve as a discount token for traders using the Binance platform. Binance Coin initially launched on the Ethereum network as an ERC-20 token but has since been transferred to the Binance Smart Chain (BSC) and now operates as a BEP-20 token.
Binance Coin is famously known by the BNB ticker symbol, and the utility token has gained blockchain prominence for two major reasons. First, it serves as the de facto currency for all projects building on the BSC ecosystem. Another is the “burn” mechanism, which sees one-fifth of the total BNB in circulation permanently destroyed. Discover more about what crypto is
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