What is BNB token and BNB Smart Chain?
BNB token is the fuel for BNB Smart Chain. Originally known as Binance Coin, BNB has been rebranded to “Build and Build." In addition to serving as BNB Smart Chain’s “gas" token, BNB also provides holders with on-chain governance rights.
Table of Contents
What is BNB token?
BNB is the native token in the BNB Chain ecosystem, which includes BNB Smart Chain (BSC) and BNB Beacon Chain. On BNB Smart Chain, BNB is used to pay for transaction fees and to participate in the network's consensus mechanism.
BNB is also used as a utility token that allows users to receive discounts on transaction fees when trading on the Binance centralized cryptocurrency exchange. Over time, Binance has broadened the utility for BNB, integrating it into various aspects of the Binance ecosystem, such as their decentralized exchange (Binance DEX), token launch platform (Binance Launchpad), and more.
How does BNB Smart Chain work?
BNB Smart Chain operates on a Proof of Staked Authority (PoSA) consensus mechanism that combines features from Delegated Proof of Stake (DPoS) and Proof of Authority (PoA). Validators are selected through staking-based governance, while "Candidates" serve as backups to maintain the functionality of the network when it is under stress. This hybrid approach ensures that blocks are produced by a limited set of validators, thus enhancing efficiency and decentralization. With a short block time of 3 seconds, transactions can be confirmed quickly, providing users with a smooth experience.
BNB Smart Chain supports EVM-compatible smart contracts and protocols, facilitating cross-chain transfers and other communications. The native token, BNB, is used for smart contract execution and staking. There is no inflation of the BNB token, which means that validators do not earn a block reward. Validators are instead compensated in BNB with the transaction fees for executing smart contracts, although a portion of these transaction fees are claimed by the BNB Chain protocol.
History of BNB Smart Chain and BNB token
Binance cryptocurrency exchange and BNB token were established in 2017. BNB token was initially an ERC-20 token on the Ethereum blockchain. In 2019, it migrated to Binance Exchange’s propriety blockchain called Binance Chain, and eventually became the fuel for Binance Smart Chain (BSC), which launched in September 2020. Due to the network’s high transaction speed, low transaction cost, and EVM compatibility, BSC quickly gained traction as the DeFi movement took off and Ethereum suffered from chronic congestion and high fees.
In February 2022, Binance Smart Chain was rebranded as BNB Smart Chain. BNB Smart Chain is itself part of the BNB Chain ecosystem of blockchains, which consists of BNB Beacon Chain (the staking and governance layer), BNB Smart Chain (the smart contract execution layer), ZkBNB (a zero-knowledge proof rollup for scaling), and BNB Greenfield (a decentralized data storage platform).
How can you use BNB and BNB Smart Chain?
Anyone can buy, sell, send, receive, and hold BNB in the Bitcoin.com Wallet app.
Advanced users also have the option to directly interact with Decentralized Apps (dApps) on the BNB Smart Chain network using the Bitcoin.com Wallet (via WalletConnect). dApps on BNB Smart Chain enable DeFi use cases like trading, borrowing and lending, prediction markets, crypto derivatives, synthetic assets, NFTs, and more.
Resources
- For an up-to-date list of the top decentralized applications on BNB Smart Chain, please refer to DAppRadar.
- To learn how to connect to dApps in the Bitcoin.com Wallet app, please see this guide.
- For more information about BNB Smart Chain, please refer to this document.
Bridging between BNB Smart Chain and Ethereum
You can bridge select Ethereum cryptoassets to BNB Smart Chain using the officially recommended Celer cBridge. Bridging will take a certain amount of time, which the bridge will estimate for you. After that, you can do most things you can do on Ethereum such as swap, borrow/lend, and add pool liquidity but with much lower fees and faster transaction times. Whenever you wish, you can bridge back over to the Ethereum mainnet.
Discover the top platforms for buying, selling, and trading cryptocurrencies
Discover the top platforms for buying, selling, and trading cryptocurrencies
Trading Features
Algorithmic TradingAutomated TradingArbitrage BotsCopy TradingDay TradingDemo Trading AccountsDerivativesCryptocurrencies
AaveAltcoinsAptosArbitrumArtificial SuperintelligenceAvalancheBinance CoinBitcoin CashBittensorCardanoChainlinkCosmosCronosDaiDogecoinEthereum ClassicFilecoinHederaImmutable XInjectiveKaspaLitecoinMakerMantleMoneroNear ProtocolNeoOKBOptimismPepePolkadotPolygonRenderRippleShiba InuSolanaStablecoinsStacksStellarSuiTezosToncoinTronUniswapExchange Types
Anonymous ExchangesCentralizedCryptocurrency BrokersCrypto To Fiat ExchangesDecentralizedFor BeginnersHybrid ExchangesLending PlatformsLowest FeesP2P Crypto ExchangesPaypal DepositSafest ExchangesSavings AccountsSwap PlatformsGeographic Regions
AlgeriaArgentinaAsiaAustraliaBahrainBrazilCanadaChinaColombiaCongoEgyptEuropeFranceGermanyGhanaHong KongIndiaIndonesiaIrelandItalyJapanKenyaKoreaMalaysiaMexicoMoroccoNetherlandsNew ZealandNigeriaNorwayPakistanPhilippinesRussiaSingaporeSouth AfricaSwitzerlandTanzaniaThailandTurkeyUgandaUnited Arab EmiratesDiscover the World of Altcoins
Explore top altcoins, exchanges, and gambling platforms in the crypto ecosystem:
Top Altcoin Picks & Trends
- Best Altcoins to Buy
- Best Crypto to Buy Now
- Best Crypto Presales to Invest
- New Crypto Projects
- Top Meme Coins
- Celebrity Tokens
Altcoin Exchanges
- All Altcoin Exchanges
- Arbitrum
- Avalanche (AVAX)
- Base
- Binance Coin (BNB)
- Bitcoin Cash (BCH)
- Cardano (ADA)
- Dai
- Dogecoin (DOGE)
- Ethereum Classic (ETC)
- Immutable (IMX)
- Litecoin (LTC)
- Mantle (MNT)
- Meme Coins Exchange
- Optimism (OP)
- Polygon (MATIC)
- Shiba Inu (SHIB)
- Solana (SOL)
- Stablecoins
- Toncoin (TON)
- Toshi
- TRON (TRX)
- Trump Tokens
- Uniswap
- USDT
- XRP
- More Altcoin Exchanges
Altcoin Gambling & Casinos
- Altcoin Casino Hub
- Arbitrum Casinos
- Avalanche Casinos
- Base Casinos
- Binance Coin Casinos
- Bitcoin Cash Casinos
- Bitcoin Casinos
- Cardano Casinos
- Dai Casinos
- Dogecoin Casinos
- Ethereum Bonuses & Games
- Ethereum Live Dealer
- ETH No Deposit Bonus
- Ethereum Roulette
- Ethereum Slots
- Ethereum Casino Hub
- Litecoin Casinos
- Meme Coin Casinos
- Meme Casino
- Optimism Casinos
- Polygon Casinos
- Shiba Inu Casinos
- Solana Casinos
- Stablecoin Casinos
- Ton Casinos
- Toshi Casinos
- TRON Casinos
- Trump Casinos
- USDC Casinos
- USDT Casinos
- VERSE Casinos
- XRP Casinos
Related guides
Start from here →
What is Ethereum?
Understand Ethereum's key characteristics.
What is Avalanche?
Understand Avalanche's key characteristics.
What is Polygon? POL Token and Polygon 2.0
Discover Polygon’s evolution, from Matic Network to Polygon 2.0, and how the POL token powers a growing ecosystem of ZK-powered Ethereum Layer 2s.
Read this article →What is Polygon? POL Token and Polygon 2.0
Discover Polygon’s evolution, from Matic Network to Polygon 2.0, and how the POL token powers a growing ecosystem of ZK-powered Ethereum Layer 2s.
What is DeFi?
Learn what makes decentralized finance (DeFi) apps work and how they compare to traditional financial products.
Read this article →What is DeFi?
Learn what makes decentralized finance (DeFi) apps work and how they compare to traditional financial products.
DeFi use cases
Decentralized Finance (DeFi) is bringing access to financial products to everyone. In this article we examine some prominent use cases.
Read this article →DeFi use cases
Decentralized Finance (DeFi) is bringing access to financial products to everyone. In this article we examine some prominent use cases.
DEX lingo
From AMM to yield farming, learn the key vocabulary you’ll encounter when trading on a DEX.
Read this article →DEX lingo
From AMM to yield farming, learn the key vocabulary you’ll encounter when trading on a DEX.
What is Verse?
Learn about Bitcoin.com’s official token, ways to earn it, and how to use it in the Bitcoin.com ecosystem and beyond.
Read this article →What is Verse?
Learn about Bitcoin.com’s official token, ways to earn it, and how to use it in the Bitcoin.com ecosystem and beyond.
STAY AHEAD IN CRYPTO
Stay ahead in crypto with our weekly newsletter delivering the insights that matter most
Weekly crypto news, curated for you
Actionable insights and educational tips
Updates on products fueling economic freedom
No spam. Unsubscribe anytime.
Start investing safely with the Bitcoin.com Wallet
Over wallets created so far
Everything you need to buy, sell, trade, and invest your Bitcoin and cryptocurrency securely
Download App
© 2025 Saint Bitts LLC Bitcoin.com. All rights reserved
Download App
Company
Educate
Products & Services
Bitcoin Data
Follow
Get Crypto
Use Crypto
Exchanges
Crypto Games
Crypto Betting
© 2025 Saint Bitts LLC Bitcoin.com. All rights reserved