WHAT IS BNB COIN? BINANCE PROJECT EVALUATION

What is BNB Coin? Why has it emerged as one of the largest cryptocurrencies today? Let’s explore BNB’s strong growth journey and why it is remarkable in the Crypto market. Don’t miss Coinstrategists’ detailed article for more insight!

WHAT IS BNB COIN?

– 2017-2019: BNB is an ERC-20 token on Ethereum, used in the Binance and Binance Chain (BEP-2) ecosystem.

– 2020 – 2022: Binance Coin moves to Binance Smart Chain (EVM structured blockchain).

– February 2022: Binance announced the launch of a new BNB Chain to develop MetaFi, with BNB Coin as the gas fee and the name BNB meaning Build and Build.

HIGHLIGHTS OF BINANCE

Binance is a large ecosystem with many diverse projects, including the Binance exchange and Binance Smart Chain:

BINANCE EXCHANGE

Below are some features on Binance that users can explore and apply: Spot, Margin, Future, P2P, Staking, Loans, Pay, Stock, Binance NFT…

BINANCE SMART CHAIN

Binance Smart Chain (BSC) is a decentralized blockchain that enables product development on its platform. Using the Ethereum Virtual Machine (EVM), BSC enables easy asset conversion between BSC and Ethereum for developers and users.

Currently, Binance Smart Chain has a large ecosystem with more than 450 diverse projects and TVL reaching more than 15 billion USD at the moment:

• AMM Liquidity: Pancakeswap, Bakeryswap, Ellipsis Finance…
• Lending: Venus, Alpha Finance, Alpaca Finance…
• Launchpad: Pancakeswap, Polkastarter, KickPad…
• Yield Aggregator: Beefy Finance, PancakeBunny, Autofarm…
• NFT: Bakeryswap, Dego Finance, Treasureland…

DETAILS ABOUT BNB COIN

What is BNB Coin? Here are the details for you to better understand the BNB cryptocurrency before you want to buy it:

TECHNICAL SPECIFICATIONS OF BNB COIN

• Ticker: BNB.
• Block Time: 1 second.
• Token Type: Utility.
• Consensus: Tendermint.
• Total Supply: 165,116,760 BNB.
• Initial Supply: 200,000,000 BNB.
• Blockchain: Binance Chain & Binance Smart Chain.
• Algorithm: Delegated Byzantine Fault Tolerance (dBFT).

BNB ALLOCATION

The initial total supply of Binance Coin is 200 million BNB, distributed as follows:

• ICO: 50% – 100,000,000 BNB.
• Binance Team: 40% – 80,000,000 BNB.
• Angel Investors: 10% – 20,000,000 BNB.

After implementing the coin burning mechanism, Binance currently has a total supply of 165,116,760.89 BNB. In the future, the total supply of BNB will continue to be burned to maintain the coin’s scarcity, increase purchasing demand, and promote the development of the ecosystem.

The burning mechanism worked as BNB rose from 40 USD on May 11, 2021 to an ATH of 670 USD (+1,675%). Currently BNB is maintaining at 522 USD.

BINANCE EXCHANGE

Exchanges Fees: BNB coin reduces transaction gas fees on Binance.

Listing Fees: BNB coin is used to pay listing fees for projects listed on Binance. This amount will be contributed to the Binance Charity fund from October 8, 2018.

BINANCE DEX

– Payments: BNB coin is used to make payments at stores and partners that accept BNB.

– Binance Launchpad: Holding BNB coin gives you the opportunity to invest in potential projects.

– Binance Smart Chain: Trading on this system is the reason why BNB price increased dramatically.

– Binance Charity: Donors use BNB coins to donate through Binance Charity programs.

– Proposal Fees: Projects that want to list coins/tokens on Binance need to send 1000 BNB. If the proposal is approved, 1000 BNB will be returned to the project.

HOW TO OWN AND STORE BINANCE COINS

What is BNB Coin? If you are a cryptocurrency enthusiast, BNB is a coin not to be missed, so do you know where to buy and store it? Let’s find out together!

BINANCE COIN STORAGE WALLET

Currently, users can buy and store Binance Coin (BNB) at wallets such as: Ledger, Trezor, Math Wallet, Trust Wallet, HyperPay, Safepal…

LARGE EXCHANGES

P2P exchanges around the world have listed Binance Coin (BNB). You can refer to buying BNB coin (Binance Coin) at major exchanges with high reputation and reliability such as: Binance, Okx, Bybit…

BNB CHAIN PROJECT ROADMAP

The Crypto market is always changing every day. To survive and maintain its position as an outstanding decentralized ecosystem, Binance has continuously innovated and created trends every year as follows:

2017-2019: Focus on developing Exchange, continuously testing new features and laying the foundation for Binance Chain.

2020-2021: Binance focuses on expanding the decentralized ecosystem with Binance Smart Chain, attracting developers thanks to its flexibility and benefits when building projects.

2020-2021: Binance focuses on expanding the decentralized ecosystem with Binance Smart Chain, attracting developers with flexibility and benefits when building projects.

– Improve infrastructure and important services.

– Enhance security for DeFi infrastructure to high standards.

– Expand to gain widespread popularity.

– Encourage and promote developers to develop projects on their decentralized ecosystem.

– Notable fields include: Algorithmic, Aggregation & Integration, Crosschain & Multichain, Gamification, NFT, Synthetic,…

– In early 2022, BNB Chain was launched and focused on MetaFi development.

TEAM, INVESTORS AND PARTNERS

What is BNB Coin? Who is behind it? To answer your questions, please read below for better understanding:

– Read more what is Bitcoin pizza?

– Join telegram channel here

PROJECT TEAM

Binance is currently one of the largest centralized and decentralized trading platforms globally, with a team of talented staff and coverage across countries. ChangPeng Zhao (CZ) and Yi He are the two key leaders of Binance to date.

CZ is the Founder and CEO of Binance. In addition, he is also an influencer, regularly interacting with the crypto community via Twitter and other social networks. Thanks to Binance, CZ has become the richest billionaire in China, surpassing Jack Ma.

INVESTORS

Binance’s Angel Investors from the early days include AU21 Capital, Dragon Gateway, along with a number of individuals such as Chris McCann, Edith Yeung, Phil Chen, and many others.

CONCLUDE

Binance is experiencing strong development in the Crypto market and is known as the largest decentralized ecosystem today. Given the future prospects of Binance Coin (BNB) and the Binance project, will they maintain their current position and success? Let’s wait with COINSTRATEGISTS for the answer in the future!