CRYPTO SPOTLIGHT: BNB

2 years ago

BNB, or Binance Coin, is a cryptocurrency created by Binance. Binance Coin (BNB) powers the Binance Ecosystem. As the native coin of the Binance Chain, BNB has multiple use cases: fueling transactions on the Chain, paying for transaction fees on Binance Exchange, making in-store payments, and many more.

Where you can use BNB

Pay trading fees - Receive a 25% discount on trading fees using BNB

Pay travel expenses - Travel the world and pay with BNB at merchants in Australia

• Pay by credit card - Pay your Crypto.com credit card bill with BNB

Stake and shift BNB via VAULT - Stake and shift BNB via Mithril's VAULT wallet

Buy virtual gifts - Buy virtual gifts on live video streaming platform

• Pay via XPOS - Purchase anything from stores that use the XPOS device by Pundi X

Pay in BNB - Pay with BNB on DENT Apps

Pay BNB in the pilot shop - Pay BNB for aircrafts in the pilot shop powered by Aeron

• Use BNB to make impact investments -

Use BNB to make impact investments on Moeda platform globally

BNB Burning Mechanism

Binance plans to destroy BNB each quarter based on the trading volume on our exchange, until 50% of the total BNB supply (100 million BNB) is burned. All transactions will be recorded on the blockchain. Eventually, only 100 million BNB will remain in circulation.

BNB TECHNICAL INFO

• Blockchain -- Binance Chain

• Consensus -- Proof of Stake (POS)

• Hash Algorithm -- Tendermint (BFT)

• Org. Structure -- Centralized

• Development Status -- Working product

Open Source -- Yes

• Hard Wallet Support -- Yes

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