BNB IS A SERVICE TOKEN AND MEANS OF PAYMENTS IN THE BINANCE ECOSYSTEM, WHICH INCLUDES THE BINANCE CRYPTOCURRENCY EXCHANGE, BINANCE DEX, AND BINANCE LAUNCHPAD, AND MANY, MANY OTHER CRYPTO PROJECTS.
BNB Raised Funds from Crypto Investors Through Its Initial Taken Offering (ICO) In 2017, Ahead of the Launch of the Binance Crypto Exchange. BNB WAS ORIGINALLY ISSUD ON ERC-20 (ETHEREUM NETWORK STANDARD), WITH A LIMITED SUPPLY OF 200 MILLION TOKENS, 100 MILLION BNB WERE SOLD DURING THE ICO.
Following The Launch of the BNANCE CHAIN MAINNET, ERC-20 BNB TOKETS WERE CONVERTED A 1: 1 RATE INTO BEP2 BNB COINS. Part of the Ethereum Network Tokens Were Burned using a Smart Contract.
Binance Blockchain Is Built On The Byzantine Fault Tolerance (BFT) CONSENSUS ALGORITHM. Validators Are Responsible for the Health of the Blockchain Network and Confirm Blocks, for this work they are rewarded.
YOU CAN BUY AND SELL BNB ON THE BINANCE CRYPTO Exchange Using Fiat Currencies in The Traditional Way (Bank Transfer or Card) Or for Cryptocurrency using the Convenient Exchange Functionality and Many Trading Pairs. One of the ADVANTAGES OF BINANCE IS THE ABILITY TO Convert Crypto to Fiat and Withdraw It to a Bank Card.