www.bnbchain.org

Binance Coin Whitepaper

BNB: Powering the Binance Ecosystem and Beyond

Explore BNB (short for Build and Build, originally Binance Coin), the native cryptocurrency that fuels the expansive Binance ecosystem and plays a pivotal role in the broader Web3 landscape. BNB is integral to the world's largest cryptocurrency exchange, Binance, and is the foundational asset for the high-performance Binance Smart Chain (BSC), now known as BNB Smart Chain, alongside various other platforms and initiatives.

BNB's Utility: More Than Just a Trading Coin

BNB's utility extends far beyond simple trading. It serves multiple critical functions within the Binance ecosystem and beyond:

• Transaction Fees: Used to pay for trading fees on Binance Exchange and transaction fees on BNB Smart Chain.
• Staking: Enables participation in the Proof-of-Stake Authority (PoSA) consensus mechanism on BNB Smart Chain.
• Governance: Holders can participate in the governance of the BNB Chain ecosystem.
• Discounts: Offers discounts on trading fees on the Binance Exchange.
• Payments: Accepted as a payment method by various merchants and services.
• Initial Coin Offerings (ICOs) / Launchpad: Used to participate in token sales on Binance Launchpad.

Key Milestones in BNB's Evolution:

• July 2017: ICO and Launch: Binance launched BNB as an ERC-20 token on the Ethereum blockchain during its Initial Coin Offering (ICO), with a primary purpose of offering discounts on trading fees on the newly launched Binance Exchange.
• April 2019: Mainnet Migration: BNB migrated from the Ethereum blockchain to its own native blockchain, Binance Chain, becoming the native coin of the new chain.
• September 2020: Binance Smart Chain (BSC) Launch: Binance launched Binance Smart Chain (BSC), a parallel blockchain to Binance Chain, designed to support smart contracts and decentralized applications (dApps) with EVM compatibility. This was a game-changer for BNB's utility.
• 2021: DeFi and NFT Boom on BSC: BSC experienced explosive growth, becoming a major hub for Decentralized Finance (DeFi) and Non-Fungible Tokens (NFTs), driven by its low fees and high transaction speeds, significantly increasing BNB's demand.
• February 2022: BNB Chain Rebranding: Binance Chain and Binance Smart Chain were rebranded collectively as "BNB Chain," encompassing the BNB Beacon Chain (for staking and governance) and the BNB Smart Chain (for dApps).
• 2023-2024: Continued Ecosystem Expansion and Infrastructure Development: BNB Chain continued to focus on scalability, security, and developer tooling. Efforts included enhancing cross-chain capabilities, supporting new dApp categories, and fostering a robust validator network.

Why BNB is a Pillar of the Crypto Economy:

BNB's multifaceted utility and the expansive Binance ecosystem make it a crucial asset for:

• Cost-Effective Transactions: Enabling users to save on trading fees on Binance and benefit from low transaction costs on BNB Smart Chain.
• Decentralized Application Development: Providing a high-performance, EVM-compatible blockchain for developers to build and deploy a wide range of dApps.
• Staking and Governance: Allowing BNB holders to participate in securing the network and influencing its future direction.
• Ecosystem Growth: Powering a vast array of services, from DeFi protocols and NFT marketplaces to gaming and Web3 infrastructure.
• Accessibility: Serving as an accessible entry point for many users into the broader cryptocurrency and decentralized finance space.

As the Binance ecosystem continues to innovate and expand, BNB remains at the core of its operations, driving utility and growth across one of the largest and most active communities in the blockchain world.