BinanceCoin

Binance Coin (BNB) is the native cryptocurrency of the Binance exchange, one of the largest cryptocurrency platforms globally. Initially launched as an ERC-20 token on Ethereum in 2017, BNB has since migrated to its own blockchain, known as Binance Chain. BNB serves multiple purposes: it can be used to pay trading fees on the Binance platform, participate in token sales, and even purchase goods and services from various merchants. A unique feature of BNB is its auto-burn mechanism, which reduces the total supply of coins every quarter, enhancing its scarcity and potential value. This mechanism aims to maintain a maximum supply of 100 million BNB tokens.

Fun Fact: The name "Binance" is a combination of "Binary" and "Finance," reflecting its digital currency focus and the tech-driven nature of the platform.

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