Binance coin ($BNB )
The company has launched two cryptocurrencies which it developed itself: Binance Coin (BNB), and BinanceUSD (BUSD).[63] BNB launched July 2017,[64] which started as an Ethereum token and later moved to Binance Smart Chain (BSC),[65] launched September 2020.[66] BSC later merged with the older Binance Chain and was rebranded into BNB chain.[67][68] BNB Chain operates using "Proof of Staked Authority", a combination of proof of stake and proof of authority. It has 21 approved validators. As of 2021, Binance Coin was the cryptocurrency with the third highest market capitalization.[63] Binance allows its users to pay fees on its exchange with BNB.[63]
BNB Chain supports smart contracts and is compatible with the Ethereum virtual machine (EVM).[69]
There have been multiple criticisms of Binance Smart Chain concerning its level of centralisation, which had led to several exploits on the network.[67]
The company has launched two cryptocurrencies which it developed itself: Binance Coin (BNB), and BinanceUSD (BUSD).[63] BNB launched July 2017,[64] which started as an Ethereum token and later moved to Binance Smart Chain (BSC),[65] launched September 2020.[66] BSC later merged with the older Binance Chain and was rebranded into BNB chain.[67][68] BNB Chain operates using "Proof of Staked Authority", a combination of proof of stake and proof of authority. It has 21 approved validators. As of 2021, Binance Coin was the cryptocurrency with the third highest market capitalization.[63] Binance allows its users to pay fees on its exchange with BNB.[63]
BNB Chain supports smart contracts and is compatible with the Ethereum virtual machine (EVM).[69]
There have been multiple criticisms of Binance Smart Chain concerning its level of centralisation, which had led to several exploits on the network.[67]
