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BNB Chain is a community-driven blockchain network that includes the BNB Smart Chain (BSC) and the BNB Beacon Chain. Together, they enable smart-contract execution, decentralized applications, and cross-chain compatibility within the wider BNB ecosystem.

BNB was created by Changpeng Zhao (CZ) and He Yi, the founders of Binance, in July 2017. The token launched through an Initial Coin Offering (ICO) and later evolved to serve the broader decentralized network known as BNB Chain.

BNB is primarily used to pay transaction and gas fees on the BNB Chain, participate in governance proposals, and access various products and services within the Binance and BNB Chain ecosystem. It is also accepted for payments, DeFi collateral, staking, and NFT marketplaces.

BNB’s Auto-Burn system reduces its total supply over time. Every quarter, a portion of BNB is permanently removed from circulation based on the number of blocks produced and the token’s price, aiming to maintain transparency and long-term scarcity.

BNB initially had a maximum supply of 200 million tokens. Through regular burns, this number is gradually reduced until the total supply reaches 100 million BNB.

BNB Beacon Chain (formerly Binance Chain) manages staking and governance, while BNB Smart Chain (BSC) supports smart contracts and decentralized applications. The two chains operate in parallel and are interoperable through cross-chain technology.

BNB Smart Chain uses a Proof of Staked Authority (PoSA) mechanism, which combines elements of Delegated Proof of Stake and Proof of Authority. Validators are elected based on staked BNB, ensuring efficiency and decentralization.

BNB can be stored in popular hardware wallets like Ledger and Trezor, or software wallets such as Trust Wallet (officially supported by Binance), MetaMask, and other non-custodial options that support the BNB Smart Chain network.

BNB is available on most major cryptocurrency exchanges, including Binance and other reputable trading platforms. Users can purchase it with fiat currencies, stablecoins, or other cryptocurrencies, then transfer it to a compatible wallet.

As of 2025, BNB’s classification may vary by jurisdiction. Binance and BNB Chain have stated that BNB is a utility token used for payments and network participation rather than an investment contract, but regulatory interpretations differ globally.

opBNB is a Layer 2 scaling solution built on the Optimism OP Stack, designed to offer faster and cheaper transactions while maintaining compatibility with BNB Smart Chain. It enhances scalability for decentralized apps and Web3 projects.

BNB Greenfield is a decentralized data-storage network that enables users and developers to create, manage, and monetize data using blockchain technology. It integrates with BNB Smart Chain to support on-chain ownership and utility of digital assets.

BNB holders can vote on proposals that affect the development and parameters of the BNB Chain ecosystem. This includes validator management, network upgrades, and resource allocation.

Yes. Users can stake BNB to help secure the network and earn rewards. Staking can be done through validators or staking platforms on BNB Smart Chain and its connected Layer 2 networks.

BNB Chain’s security relies on a combination of decentralized validators, robust consensus mechanisms, and active community governance. Regular audits and ongoing upgrades help maintain network resilience against attacks.