BNB (BNB)

BNB is the native utility token of the BNB Chain ecosystem, acting as a multi-chain asset that powers decentralized applications and facilitates value exchange across its network. It serves as the primary asset for paying transaction gas and smart contract deployment fees while providing users with tiered fee discounts on the Binance exchange. The project’s main value proposition lies in its unified multi-chain architecture, which integrates a smart contract platform, a Layer 2 scaling solution, and a decentralized data storage network into a cohesive settlement and data availability layer. The network operates on a Proof of Staked Authority consensus mechanism, utilizing a group of 21 active validators known as the Cabinet to verify transactions and produce blocks every 3 seconds. Validators are elected daily based on the amount of BNB staked or delegated to them, and the system employs fast finality and slashing penalties to maintain security and integrity. To manage its long-term economy, the project uses a programmatic dual-burn strategy that permanently removes tokens through real-time fee destruction and quarterly buybacks.

Description from CoinGecko.

Coin details

Name

BNB

Symbol

BNB

Market cap rank

#4

Category

Smart Contract Platform, Exchange-based Tokens, BNB Chain Ecosystem

Runs on

Its own blockchain

Launched (genesis)

8 Jul 2017

Circulating supply

131,510,755 BNB

Max supply

200,000,000 BNB

Price in INR

₹61,405.23

Tax in India

30% on gains + 1% TDS on sale

Contract (Ethereum)

0xb8c774…1bdd52

Website

binance.com

Whitepaper

github.com/bnb-chain/whitepaper/blob/master/WHITEPAPER.md

Explorer

bscscan.com

X (Twitter)

x.com/binance

Reddit

reddit.com/r/binance

GitHub

github.com/binance