BNB, or Binance Coin, is the native cryptocurrency of the Binance ecosystem, the world's largest cryptocurrency exchange. Initially launched on the Ethereum blockchain in 2017, it has since migrated to its own blockchain, the Binance Chain and later, the BNB Chain. BNB was first used to give users a discount on trading fees on the Binance exchange.
Over time, its utility has expanded significantly. It is now used to pay for transaction fees on the BNB Chain, participate in token sales on Binance Launchpad, and as a medium of exchange in various decentralized applications (dApps). Its evolution from a simple utility token to a central component of a vast blockchain ecosystem highlights its importance in the crypto world.
