BNB (formerly Binance Coin) is the native cryptocurrency of the BNB Chain ecosystem—a smart contract platform and blockchain network originally launched by the Binance exchange.
Introduced in 2017 as an ERC‑20 token on Ethereum, BNB was created to provide utility within the Binance ecosystem, including trading fee discounts, token sales, and platform rewards. In 2019, BNB migrated to its own blockchain, now known as BNB Chain, which powers a wide range of decentralised applications (dApps), token launches, and Web3 services.
BNB Chain uses a high-performance consensus mechanism called Proof of Staked Authority (PoSA), which combines elements of delegated staking and validator rotation to ensure fast, efficient transaction processing. This makes the network well-suited for scalable DeFi protocols, NFT platforms, and decentralised infrastructure.
BNB plays a central role in the ecosystem: it is used to pay transaction fees on BNB Chain, participate in staking and governance, and access features across Binance products, including token launchpads, cross-chain bridges, and decentralised exchanges like PancakeSwap.
With strong developer activity and one of the largest user bases in crypto, BNB has evolved from an exchange token into a core asset powering a diverse and expanding blockchain ecosystem.
Buying BNB on Coinstash is simple and secure. Just follow these 5 steps to get started:
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