BNB

BNB (BNB) is the main token of the BNB Chain ecosystem, a multi-chain network for decentralized applications. It covers gas for transactions and fees for deploying smart contracts. The ecosystem joins a contract execution chain, a second-layer scaling system and a decentralized data storage network.

The chain relies on Proof of Staked Authority consensus. Its 21 active validators, known as the Cabinet, check transactions and create a new block at a three-second interval. The validator set is chosen each day according to how much BNB is staked with or delegated to candidates. Fast finality and slashing penalties support network integrity.

The project began in 2017 through Binance, with a total supply of 200 million tokens. Half went to the public, 40% to the founding team and 10% to angel backers. It started as a token on Ethereum and later moved to its own architecture, which stays compatible with the Ethereum Virtual Machine.

Its supply follows a dual-burn design in which tokens are destroyed for good as fees are processed and again through quarterly buybacks. Holders can also take part in governance by voting on technical upgrades and economic changes.