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.