Glossary

BNB

15/04/2026

BNB (Build and Build, formerly Binance Coin) is the native cryptocurrency of the BNB Chain ecosystem, created by Binance in 2017. It serves as the gas token for BNB Smart Chain (BSC) and is used across the Binance ecosystem for trading fee discounts, token launches, and DeFi.

Key facts

  • Symbol: BNB
  • Blockchain: BNB Smart Chain / BNB Beacon Chain
  • Consensus: Proof of Staked Authority (not mineable)
  • Total supply: 200 million at launch; regularly reduced via token burns
  • Token standard: Native (also exists as BEP-20 on BSC)

BNB cannot be mined

BNB is not a Proof of Work coin. It cannot be mined with ASICs or GPUs. BNB is earned through staking, trading, or buying on exchanges.

BNB burn mechanism

Binance periodically burns (permanently destroys) a portion of BNB supply, reducing total circulation. This deflationary mechanism is designed to increase scarcity over time. The target is to burn 50% of the total supply.

Relevance to miners

  • Gas fees — using BSC-based services to swap or bridge mined coins requires holding BNB for transaction fees
  • Exchange fees — Binance users holding BNB get discounts on trading fees
  • Wrapped BTC — BTCB (wrapped Bitcoin on BSC) is a BEP-20 token, not real BTC; requires a bridge to convert

See also

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