- All the ways in which BNB's face-off with this resistance level will unfold - AMBCrypto
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- Binance.US Will List Sandbox (SAND) For Trading - Watcher Guru
- Fidelity Reveals $5 Million Ethereum Index Fund - Decrypt
- Mastercard to Launch Solution for Combating Crypto Fraud, Binance Completes First LUNC ...
- Why Are These Celebrities Getting Involved With Binance, Big Eyes Coin, and Apecoin?
- Binance opens 2 new offices in Brazil as team doubles since March - Cointelegraph
- You Will Miss Huge Gains by not Buying Oryen (ORY), Binance Coin (BNB), Litecoin (LTC ...
- XRP Price: Binance announces new XRP investment product, fuels rally in the altcoin
- Why Central Banks Around the World Are Interested in Wholesale CBDCs - CoinDesk
- Bitcoin Investment Firm NYDIG Raised $720M for Digital Asset Fund, CEO Gutmann Departs
- Luna Classic (LUNC): Binance Fulfilling the Commitment of LUNC Burn - The Coin Republic
- Polygon (MATIC) And Binance Coin (BNB) Decline, But Flasko (FLSK) Surges As Investors ...
- Adding Uniglo.io (GLO) To Your Portfolio Alongside Bitcoin (BTC) And Binance Coin (BNB ...
- Terra Luna overtakes Ethereum (ETH) due to big LUNC burn on Binance
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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