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About Binance Coin (BNB)
What is Binance Coin?Binance Coin (BNB) is native token of the main Binance Chain blockchain. Binance is a decentralized, blockchain-based network that has continuously developed with the mission of becoming an infrastructure services provider for the entire blockchain ecosystem.
Before finally Binance blockchain itself, BNB, for the first time, was launched as an ERC-20 token on the Ethereum Blockchain.
Binance Coin operates on two chains – the Binance Chain, which is the original chain for transactions, and the newer Binance Smart Chain, which can support more complex features, like smart contracts.
Who is behind Binance Coin?The founders of Binance Coin (BNB) are Changpeng Zhao and He-Yi. Changpeng Zhao is the CEO of Binance. Before finally founding Binance, Changpeng Zhao worked as head of futures trading.
On the other hand, He-Yi serves as head of marketing at Binance. Before joining Zhao, He-Yi co-founded the most extensive fiat-to-crypto exchange in China, OKChain.
What is the purpose of Binance Coin (BNB)?Binance Coin is used to trade and pay fees on the Binance cryptocurrency exchange. It aims to bring cryptocurrency to the forefront of financial activity globally. Moreover, it is also an integral part of the successful functioning of many of the Binance sub-projects.
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