Learn about BNB Chain

What is BNB chain?

BNB chain is a term coined by Binance the largest crypto exchange in the world comprissing of both the Binance chain and the Binance smart chain (BSC).
Founded in 2017 by Changpeng Zhao (also known as CZ), Binance was launched on the ethereum blockchain before moving over to it's own Binance chain.
The Binance chain couldn't support other smart contracts on it's network. This led to the launch of the Binance smart chain in 2020 that supports smart contracts and innovation mimicking the functionality of ethereum.

The BNB chain is a home to loads of crypto projects taking advantage of it's features which include high speed and low transacton fees. It is also a lot easier to launch tokens on the BNB chain as not much technical knowledge is required. With the launch of the Binance smart chain in 2020, it became easier and more cost effective to launch tokens using it's smart contract.
This is great but has also made it possible for a lot of scams and rugpulls to take advantage of, as anyone with the knowledge can come up with a token with little or no usecase, then market them to guillible investors who invest their money hoping for profit but lose out as their investments eventually become worthless.

Notwithstanding though the BNB chain is a home to thousands of worthy smart contracts and dapps running on it's network. It aims to power the rise of the next generation technology such as Defi, NFTs and the Metaverse.
Also lots of web3 projects initially built on ethereum do migrate to the BNB chain for lower transacton fees compared to ethereum's currently high fees.

BNB the governance and utility token of BNB chain, is one of largest cryptocurrencies by marketcap, having a market capacity of $44.88B. It has a total supply of 200,000,000 BNB coins, about 170,00,000 are currently in circulation.
Ranked fifth on coinmarketcap crypto rankings.
BNB is deflationary. This implies that the total amount of BNB In circulation is bound to reduce over time, due to it being burned every quarter. This is great to it's long term growth and economic value as the more scarce BNB becomes, the more valuable it is.
BNB was sold for $0.01 during it's pre-sale with the launch of Binance in 2017, the current price of BNB is $278 representing an increment of over 200,000% from it's pre-sale price.

BNB chain aims to overtake ethereum as the largest blockchain for smart contract development, powering the growth of Web3.
And as such it's utility token BNB is predicted to sooner or later be owned by everyone.

Website: https://www.binance.com
Twitter: https://twitter.com/BNBCHAIN