BNB (Binance Coin) is the native cryptocurrency of the Binance ecosystem, one of the largest cryptocurrency exchanges in the world. Initially launched in 2017 as an ERC-20 token on the Ethereum blockchain, it was later migrated to Binance's own blockchain, Binance Chain, and is now primarily used on Binance Smart Chain (BSC).
BNB has several use cases, including:
1. Transaction fees: Users can pay for transactions on Binance at a discounted rate using BNB.
2. Token for decentralized applications: BNB is used within the Binance Smart Chain for decentralized applications (DApps) and smart contracts.
