Binance Coin is the cryptocurrency issued via the Binance exchange and trades with the BNB symbol. As of June 2021, Binance is the biggest cryptocurrency exchange global, assisting more than 1.4 million transactions per second.
Binance coin, first of all, ran at the Ethereum blockchain with ERC-20 standard but has since become the native coin of the Binance chain. It turned into launched all through an initial coin offering (ICO) in July 2017 and has a strict maximum of 200 million BNB tokens. It presented 10%, or 20 million, BNB tokens to angel traders, 40%, or eighty million, Tokens to the founding crew, and the final 50%, or one hundred million, to the various participants thru the ICO procedure.
Binance used almost 1/2 of the budget raised for the duration of the ICO process for branding and advertising. They had used around 1/3 to build the Binance platform and carry essential upgrades to the Binance ecosystem.
BNB was initially based on the Ethereum community but now is the native money of Binance’s blockchain, the Binance chain.