--

----

0.00%

What is Binance Coin? BNB powers the Binance ecosystem and is the native asset of the Binance Chain**. BNB is a cryptocurrency created in June 2017, launched during an ICO in July, and initially issued as an ERC-20 token. Designed to be used for a fee reduction on the Binance exchange, its scope was extended over the years. BNB powers the Binance Chain as its native chain token. For instance, it is used to pay fees on the Binance DEX, issue new tokens, send/cancel orders, and transfer assets. BNB is also powering the Binance Smart Chain, which is an EVM-compatible network, forked from “go-ethereum”. It supports smart contracts and relies on a new consensus mechanism: Proof-of-Staked Authority (PoSA) consensus (“Parlia”), which incorporates elements from both Proof of Stake and Proof of Authority. BNB is used for delegated staking on the authority validator, leading to staking rewards for users and validators. Besides its on-chain functions, BNB has multiple additional use-cases such as fee discounts on multiple exchanges (e.g., Binance.com), payment asset on third-party services, and participation rights & transacting currency on Binance Launchpad.
You can find more information about Binance coin history, system features and how to use it in MEXC Blog.

If you are looking to buy, trade or hold Binance coin (BNB) — consider MEXC Exchange as your first stop! With our products the process will be convenient, fast and secure! Trade BNB on MEXC now and enjoy super-low spot maker and taker fees. Just by clicking buttons below you will find detailed instructions on how to buy Binance coin or access MEXC BNB and other crypto markets & trading terminals.