Price of BNB (BNB) Today
As of the latest data, BNB (BNB) is currently priced at $0.35 with a market capitalization of $851.17M. The 24-hour trading volume stands at $132.84M, The circulating supply of BNB is approximately $2.45B. The cryptocurrency has seen a 2.96% increase in value over the past 24 hours.
Best BNB (BNB) Prices
| Platform | Coin | Price |
|---|---|---|
| Nexo | BNB (BNB) | 769.35 |
| PrimeXBT | BNB (BNB) | 767.07 |
| YouHodler | BNB (BNB) | 767.25 |
| Uphold | BNB (BNB) | 667.24 |
| OKX | BNB (BNB) | 765.1 |
| Binance | BNB (BNB) | 767.39 |
Latest BNB (BNB) Interest Rates
BNB (BNB) Lending Rates
| Platform | Coin | Interest rate |
|---|---|---|
| Nexo | BNB (BNB) | Up to 8% APY |
| YouHodler | BNB (BNB) | Up to 12% APY |
| EarnPark | BNB (BNB) | Up to 6% APY |
BNB (BNB) Staking Rewards
| Platform | Coin | Staking rewards |
|---|---|---|
| YouHodler | BNB (BNB) | Up to 7% APY |
About BNB (BNB)
BNB (BNB), launched on July 8, 2017, is a cryptocurrency that operates on the Binance Chain, designed to facilitate fast and efficient transactions within the Binance ecosystem. While specific details about its consensus mechanism and network architecture are not publicly available, it is known that Binance Chain utilizes a delegated proof-of-stake (DPoS) model, allowing for rapid block times and high throughput, which enhances the overall performance of the network. This architecture supports various applications, including decentralized exchanges and token issuance, ensuring that BNB remains a pivotal asset within the cryptocurrency landscape.
BNB (BNB) serves multiple use cases within the cryptocurrency ecosystem, primarily as a utility token on the Binance platform. One of its main applications is to pay for trading fees on the Binance exchange, where users can receive discounts when using BNB for transactions. Additionally, BNB is utilized in various decentralized finance (DeFi) applications, such as staking and lending, allowing users to earn rewards or interest on their holdings. Furthermore, BNB plays a crucial role in token sales on Binance Launchpad, enabling users to participate in new project offerings. Its versatility extends to payments for goods and services, as several merchants accept BNB as a form of payment, demonstrating its growing acceptance in the real world.
BNB (BNB) operates under a deflationary tokenomics model, with a total supply initially capped at 200 million tokens. The distribution model includes allocations for the Binance team, investors, and the Binance ecosystem, ensuring a diverse stakeholder base. A significant aspect of BNB's market dynamics is the quarterly token burn mechanism implemented by Binance, in which a portion of the total supply is permanently removed from circulation based on the exchange's trading volume. This process reduces supply over time and potentially increases scarcity. This deflationary approach, combined with the growing utility of BNB across various applications, contributes to its demand and market performance, making it a key asset in the cryptocurrency landscape.
BNB (BNB) operates on the Binance Chain, which utilizes a delegated proof-of-stake (DPoS) consensus mechanism to ensure network security and transaction validation. In this model, a limited number of validators are elected by BNB holders to produce blocks and validate transactions, enhancing efficiency and speed. Validators are incentivized through transaction fees and rewards, while also being held accountable by the community, as their performance can directly impact their ability to maintain their status. The network incorporates additional security features such as regular audits and a robust governance structure, allowing stakeholders to participate in decision-making processes that affect the network's operations and security protocols. This combination of DPoS and community oversight contributes to a secure and resilient blockchain environment for BNB transactions.
The development roadmap for BNB has evolved significantly since its inception in July 2017, with several major milestones marking its progress. Initially launched as an ERC-20 token on the Ethereum blockchain, BNB transitioned to its own blockchain, Binance Chain, in April 2019, enhancing its functionality and transaction speed. In 2020, the introduction of Binance Smart Chain (BSC) expanded BNB's utility by enabling smart contracts and decentralized applications, fostering a vibrant DeFi ecosystem. Key achievements include the implementation of a quarterly token burn mechanism, which has consistently reduced the total supply, and the expansion of BNB's use cases across various sectors, including payments and staking. Ongoing development focuses on enhancing scalability, security, and user experience, positioning BNB as a pivotal asset in the cryptocurrency market.
How to Keep Your BNB Safe?
To effectively secure your BNB holdings, utilize a hardware wallet, which offers superior protection against online threats. Recommended models include Ledger and Trezor, both known for their robust security features. For private key management, generate and store your keys in a secure, offline environment, and never expose them to the internet. Consider using a password manager to create and store complex passwords for your wallets. Be vigilant against common security risks such as phishing attacks and malware. Employ two-factor authentication (2FA) on all accounts and regularly update your software to patch vulnerabilities. Implement multi-signature security by using wallets that require multiple private keys to authorize transactions, significantly reducing the risk of unauthorized access. Lastly, establish a comprehensive backup procedure by securely storing your wallet seed phrases and private keys in multiple, physically secure locations, ensuring they are protected from theft, loss, or damage.
How Does BNB Work?
BNB operates on the Binance Smart Chain (BSC), which utilizes a dual-chain architecture that allows users to transfer assets seamlessly between the Binance Chain and Binance Smart Chain, enhancing flexibility and scalability. The consensus mechanism employed by BSC is a variant of Proof of Stake known as Proof of Staked Authority (PoSA), which combines elements of both Proof of Authority and Delegated Proof of Stake, enabling faster block times and lower transaction costs. Transactions on the network are validated by a set of validators responsible for creating new blocks and confirming transactions, with the process involving the selection of validators based on their stake in BNB. Network security is maintained through a combination of validator reputation, staking requirements, and regular audits, ensuring that malicious actors are deterred from compromising the integrity of the blockchain. Unique technical features of BNB include its ability to facilitate cross-chain transactions, support for smart contracts, and the integration of various decentralized applications (dApps), which collectively enhance its utility within the cryptocurrency ecosystem.
BNB Buying Guide
Frequently Asked Questions About BNB (BNB)
- What is BNB, and when was it launched?
- BNB, or Binance Coin, is a cryptocurrency created by Binance, one of the largest cryptocurrency exchanges in the world. It was launched on July 8, 2017, as part of an initial coin offering (ICO). Initially designed to pay for trading fees on the Binance exchange, BNB has since evolved to offer various uses within the Binance ecosystem, including transaction fees, trading pairs, and participation in token sales on Binance Launchpad. Staying informed about BNB is crucial for users engaged in the cryptocurrency market.
- What is BNB, and when was it created?
- BNB, or Binance Coin, is the native cryptocurrency of the Binance exchange, launched on July 8, 2017. Initially created as a utility token for discounted trading fees on the Binance platform, BNB has since evolved to support various applications, including transaction fees on the Binance Smart Chain, participation in token sales on Binance Launchpad, and more. Staying informed about BNB's developments is essential for users involved in the cryptocurrency ecosystem.
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