BNB is a cryptocurrency created by the Binance company. It is ranked third on coinmarketcap.com. BNB started as an Ethereum-based token (ERC-20), then eventually moved to its own blockchain called the Binance Chain. However, unlike Ethereum, Binance Chain has only recently started supporting smart contracts. By the way, you cannot mine BNB as you would a proof-of-work cryptocurrency since the Binance Blockchain uses the Byzantine Fault Tolerance (BFT) consensus mechanism.
Binance limited the offer of BNB to 200 million tokens. To counter the depreciation that will occur with the annual reduction in the discount on services, Binance plans to eventually burn half of its total supply, i.e., 100 million tokens. The ultimate goal of "The Burn'' is to stabilize the price of BNB over time. The advantages Binance coin has: low cost and high transaction speed. Also, BNB can handle a large number of transactions and has no restrictions like the Bitcoin network. Additional features are available, for example, smart contracts and DeFi. On the Binance platform, it is possible to drain tokens and earn % on this, as in the banking system.
