Binance Coin

The live price of BNB Coin today is $295.68 USD. BNB Coin is up 0.10% in the last 24 hours compared to $USD. Binance Coin has a live market cap of $48,277,735,858.60 USD, and a circulating supply of 163,276,975 BNB.

Binance is a cryptocurrency exchange that started in July 2017. It is the biggest cryptocurrency exchange in the world based on the amount of money that is traded on it each day. Binance’s goal is to make cryptocurrency exchanges more popular and important around the world. The name “Binance” comes from combining the words “binary” and “finance” to show this new idea about finance.

Binance is the world’s largest cryptocurrency exchange. It also has a bunch of other projects that use blockchain technology to make finance easier for everyone. Binance Coin is important to a lot of these projects.

Who Are the Founders of Binance Coin?

Changpeng Zhao is the founder and CEO of Binance. He worked for Bloomberg as head of tradebook futures development for four years before joining Fusion Systems as a partner.

Changpeng Zhao has been interested in blockchain technology and cryptocurrencies since 2013. In 2015, he founded BijieTech. The following year, Zhao officially launched Binance and has been the CEO of the company ever since.

Binance is a cryptocurrency exchange founded in July 2017 by a Chinese entrepreneur named He Yi. In 2012, she began her career as a TV anchor and presenter on China Travel Television. Yi co-founded OKCoin in 2014, which was the biggest fiat-to-crypto exchange in China at the time. She teamed up with Changpeng Zhao in 2017 to launch Binance, which currently dominates the crypto industry globally.

What Makes Binance Coin Unique?

Binance is a decentralized, blockchain-based ecosystem. The business has expanded to become the most significant cryptocurrency exchange in numerous nations, and its auxiliary organizations are attracting significant attention as well.

Binance’s development mentality is one of the most significant competitive advantages it possesses. While Binance began only as a bitcoin exchange in 2017, it has now expanded its offerings to several other areas. Binance’s goal, according to the company’s website, is to become the infrastructure provider for the entire blockchain industry.

The Binance Coin has seen a price increase since it was launched. The exchange has also benefited from increased investor interest in the token. This has put it on the map of enterprise investors.

BNB’s deflationary tokenomics has been improved even more with measures like BEP-95. This proposal makes the network fees even lower, by burning a part of the fees. This measure was modeled after Ethereum’s famous EIP-1559.

Binance has been able to overcome several exploits of its systems. These include a $200M exploit of Pancake Bunny and several hacks of Cream Finance. Despite these hacks, users continue to use Binance because it has low fees and a lot of different types of coins.

How Many Binance Coin (BNB) Coins Are There in Circulation?

Binance Coin is an ERC20 token built on the Ethereum blockchain. Binance coin has a total supply of 200 million coins, with 168,137,036 currently in circulation as of September 2021.

Binance Coin burning occurs every three months, with the aim of reducing the overall supply by half — or 100,000,000 BNB. On July 18, 2021, it burnt its 16th quarterly coin supply worth $390 million in Binance Coin currency at the time of incineration. That was not the most costly burn, though. On April 16, 2021, Binance burned roughly $600 million in Binance Coin money at the time of combustion.

Binance allocated 50% of the total supply of BNB tokens to the initial coin offering (ICO) and public sale, according to the whitepaper. The ICO was held in July 2017 shortly after the exchange opened, and saw Binance raise $15 million in funding with Binance Coin prices at $0.10 throughout the ICO. Taking today’s Binance Coin price, that implies a return on investment of almost 4200X (ROI).

The remaining 10% of the maximum supply, or about 8,000,000 BNB coins, was given to angel investors. Finally, founding members and the team each received 40% of the total supply or around 80 million BNB coins.

How Is the Binance Coin Network Secured?

Binance Coin was initially issued as an ERC-20 token on the Ethereum blockchain. The firm subsequently launched its own blockchain, and the coins were created from the Binance blockchain, secured by Tendermint’s Byzantine-fault-tolerant (BFT) consensus mechanism.

ERC-20 tokens are based on the proof-of-stake (PoS) consensus, which makes them very scalable. They also allow for the creation of smart contracts. However, the Binance blockchain does not support smart contract functionalities. In contrast, the Bitcoin blockchain is based on the proof-of-work (PoW) consensus, which is far more limited and consumes large amounts of electrical and computing power.

Where Can You Buy Binance Coin (BNB)?

As the dedicated utility token for the Binance exchange, the easiest way to get BNB coins is to purchase them on Binance. The original exchange has the largest variety of trading pairs with BNB, and it also has the best trading rates for the coin. Since the launch of Play2Earn games, there has been a lot of interest in the price of BNB to PHP.

If you are looking for a different way to buy BNB, FTX is a good choice. Keep in mind that investing in cryptocurrency can be risky, just like any other investment.

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