Binance Coin Latest News
- Congress May 'Work More Quickly' on Stablecoin Regulations Amid UST Collapse - Decrypt
- Binance vs Gate.io Which one to use for Trading Crypto - TheGWW.com
- 5 Recession-Proof Cryptos to Buy Right Now | InvestorPlace
- Coinbase stock falls faster than bitcoin after hiring freeze, new project pause - Seeking Alpha
- Parody Coin (PARO), Aave (AAVE), and Algorand (ALGO): Great Tokens For New Investors In Crypto
- DeFi Coin Finds Floor - Next Stop $0.33 - Where to Buy DEFC - Business 2 Community
- Binance Adds Support for Layer-2 Ethereum Scaling Solution Optimism - Decrypt
- Breaking: Binance CEO Says Terra Crash Was Avoidable, Here's How - Coingape
- ETH Layer 2 Deposits Now Open On Binance - Coingape
- Binance CEO CZ Shares “Lessons” From Terra Collapse - Crypto Briefing
- Litecoin price analysis: LTC price continues to trade below $70 - Cryptopolitan
- Binance Exchange Becomes the Latest Exchange to Integrate Optimism - Business 2 Community
- Stereotaxis vs. Binance Coin: Price Relationship Crosses Threshold | Nasdaq
- Bitcoin Retests $30K as Ripple Spikes 6% Daily (Market Watch) - CryptoPotato
- Stock, Crypto, Real Estate Bubbles Deflate - The Chosun Ilbo (English Edition)
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About Binance Coin
It has a circulating supply of 154,532,785 BNB coins and a max. supply of 170,532,785 BNB coins.
The top exchanges for trading in Binance Coin are currently Binance, HBTC, Hydax Exchange, BitZ, and BiKi. You can find others listed on our crypto exchanges page.
What Is Binance Coin (BNB)?
BNB was launched through an initial coin offering in 2017, 11 days before the Binance cryptocurrency exchange went online. It was originally issued as an ERC-20 token running on the Ethereum network, with a total supply capped at 200 million coins, and 100 million BNBs offered in the ICO. However, the ERC-20 BNB coins were swapped with BEP2 BNB on a 1:1 ratio in April 2019 with the launch of the Binance Chain mainnet, and are now no longer hosted on Ethereum.
BNB can be used as a payment method, a utility token to pay for fees on the Binance exchange and for participation in token sales on the Binance Launchpad. BNB also powers the Binance DEX (decentralized exchange).
Can You Mine BNB?
You cannot mine BNB as you would a proof-of-work cryptocurrency, since the Binance Blockchain uses the Byzantine Fault Tolerance (BFT) consensus mechanism. Instead, there are validators that earn from securing the network by validating blocks.
What Is a BNB Burn?
Before BNB migrated to Binance Chain, Binance performed coin burns on the Ethereum network using a smart contract burn function. The amount of coins that Binance burns is based on the number of trades of the exchange over three months. Since the Binance Chain launch, BNB coin burns no longer take place on the Ethereum network and now use a specific command on Binance Chain, as opposed to a smart contract.
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