BNB price in euros

BNB is the native cryptocurrency of the BNB Chain ecosystem, which includes BNB Smart Chain (BSC). Binance created it in 2017, originally as a token on Ethereum, mainly to give discounts on the exchange’s trading fees.

Today it also powers a network that supports Ethereum-compatible smart contracts. That means developers can port apps and tools over without having to build everything from scratch.

What it’s used for

On BNB Smart Chain, users pay transaction fees in BNB, whether they’re sending tokens or using decentralized exchanges and other apps. Think of it as the network’s fuel: even to move a different token, you need BNB to cover the fee.

Holders can also take part in staking by delegating BNB to validators that help confirm transactions. On Binance, the coin is still used for discounts on eligible fees, under the platform’s terms at the time.

How many BNB are there

An initial 200 million BNB were created. BNB isn’t produced through mining, and validators’ regular rewards come mainly from transaction fees rather than from issuing new coins.

Supply shrinks through automatic quarterly burns (auto-burn), with a target of 100 million BNB, as well as by burning part of the network’s fees. The 200 million figure describes the original issuance and shouldn’t be confused with the amount in existence today.

What to watch out for

BSC relies on a relatively small set of validators, which raises concerns about concentrated control. At the same time, BNB’s close ties to Binance expose it to risks from the company’s operations, reputation and pending regulatory issues.

There is also a risk of hacks of apps and bridges that move assets between networks. The security of the blockchain itself doesn’t guarantee the security of every service built on it, and competition with other networks for users and developers remains significant.

We see Ethereum compatibility as a practical advantage, but concentrated control as the key trade-off of its technology.