What is BNB?
BNB is the native token of BNB Chain, a group of blockchains led by BNB Smart Chain (BSC). It pays the gas fees for every transaction on BNB Smart Chain and its layer 2, opBNB, is staked with the validators that secure the network, and is used to vote on network decisions. Thousands of apps on the chain also accept it for trading, lending and payments.
BNB was launched by the Binance exchange in 2017, and the letters originally stood for Binance Coin. The token now runs on its own blockchain, maintained by validators and developers in the BNB Chain community, and BNB Chain describes the name as standing for "Build and Build". Binance remains closely tied to the ecosystem and still gives its users trading-fee discounts for holding BNB.
What is BNB Chain?
BNB Chain is the name for the BNB ecosystem's blockchains, which share BNB as their token:
BNB Smart Chain (BSC): the main network, a layer 1 blockchain for smart contracts and decentralized apps. It launched in September 2020 as Binance Smart Chain and was renamed in February 2022.
opBNB: a layer 2 network built on the OP Stack that settles to BNB Smart Chain. It opened to the public in September 2023 and offers even lower fees for apps such as games that send many small transactions.
BNB Greenfield: a decentralized data storage network, live since October 2023, where users and apps can store files and control who can access them.
BNB Beacon Chain, the original chain that handled staking and governance, was shut down in late 2024 under a plan called BNB Chain Fusion, and its jobs moved to BNB Smart Chain.
BNB at a glance
| Item | Detail |
|---|---|
| Type | Native token of BNB Chain |
| Launched | July 2017, by Binance |
How BNB Smart Chain works
BNB Smart Chain is compatible with the Ethereum Virtual Machine (EVM), so developers can deploy the same contracts they write for Ethereum and users can use the same address format and familiar wallets. Tokens on BSC follow the BEP-20 standard, which works like Ethereum's ERC-20.
Proof of Staked Authority
BSC reaches agreement on new blocks with Proof of Staked Authority, a mix of proof of stake and proof of authority. Each day the validators with the most BNB staked to them are elected to produce blocks: 45 active validators in total, made up of 21 "Cabinet" validators that produce most blocks and 24 "Candidates" that take turns joining them. BNB holders who do not run a validator can delegate their BNB to one and share in its rewards. A small, elected validator set is what lets BSC run fast and cheap, but it also means far fewer block producers than on Ethereum.
Speed and fees
BSC has cut its block time several times. The Maxwell upgrade in 2025 brought it to 0.75 seconds, and the Fermi hard fork on 14 January 2026 lowered it again to about 0.45 seconds. Transaction fees are usually a small fraction of a dollar. In August 2026 the Pasteur hard fork focused on security instead of speed, tightening checks on cross-chain bridge messages and letting validators rotate their keys.
What is BNB used for?
Gas fees: every transaction on BNB Smart Chain and opBNB is paid for in BNB, including transfers of other BEP-20 tokens.
Staking: BNB is staked with validators to secure the network, and delegators earn a share of the transaction fees validators collect.
Governance: staked BNB gives holders a vote on network proposals and parameter changes.
DeFi and apps: BNB is used as collateral, trading pairs and payment across BSC's DeFi apps, exchanges and games.
Binance discounts: Binance users who pay trading fees in BNB get a discount, and the exchange uses BNB in its token sale and rewards programs.
BNB supply and burns
BNB started with a total supply of 200 million tokens. At launch, half were sold to the public, 40% went to the founding team and 10% to early investors. BNB Chain has committed to burning tokens until only 100 million remain.
Two mechanisms remove BNB from circulation:
Auto-Burn: every quarter an amount of BNB is destroyed, set by a formula based on BNB's price and the number of blocks produced in that quarter, so the burn does not depend on Binance's profits.
Real-time gas burn: a share of every gas fee paid on BNB Smart Chain is burned as the block is produced.
The total supply has already fallen from 200 million to under 140 million. The live circulating supply is shown in the market data on this page.
History of BNB and BNB Chain
| Date | Milestone |
|---|---|
Risks and controversies
Close ties to Binance: BNB's demand and reputation are tied to the world's largest crypto exchange. In November 2023 Binance agreed to pay about $4.3 billion to settle US charges over anti-money-laundering and sanctions failures, and its founder, Changpeng Zhao, pleaded guilty, stepped down as CEO and served four months in prison in 2024. He was pardoned in October 2025. In September 2026 US prosecutors were reported to be investigating Binance again over possible Iran sanctions violations.
Small validator set: with 45 active validators chosen by stake, control over BNB Smart Chain is far more concentrated than on networks such as Ethereum. In October 2022 an attacker used a flaw in the BSC Token Hub bridge to create 2 million BNB, and validators halted the chain to contain it. That limited the damage, but it showed that a small group can stop the network.
Bridge and app risk: many assets on BSC arrive through bridges or live in DeFi contracts, and failures or scams in those apps can cause losses even when the chain itself works normally.
Price volatility: like any cryptocurrency, BNB's price can move sharply. This page is not financial advice.
How to buy, sell and store BNB
You can buy BNB on Bitcoin.com with a card or bank transfer, sell BNB for local currency, and check what your tokens are worth with the BNB to USD converter.
To hold BNB yourself, use a self-custody wallet that supports BNB Smart Chain. The Bitcoin.com Wallet app supports BNB and BEP-20 tokens on BNB Smart Chain, lets you buy, sell and swap BNB where available, and connects to BSC apps through WalletConnect. BNB Smart Chain and Ethereum addresses look the same, so always check that you and the recipient are using BNB Smart Chain (BEP-20) before you send, and keep a little BNB in your wallet to pay gas.
BNB Smart Chain vs. Ethereum
| Feature | BNB Smart Chain |
|---|
BNB Chain trades some decentralization for speed and low fees, which has made it one of the busiest blockchains for everyday DeFi and trading. Its open questions are about independence: how far the network can stand apart from Binance, and whether a small validator set is enough to keep it neutral and secure.