Binance Coin History
The Binance ecosystem depends on BNB Coin to keep things running. The coin was designed to cover a variety of costs associated with using the Binance cryptocurrency exchange, including listing, exchange, and trading fees.
A total of 200 million tokens were initially available for Binance Coin. During the Binance ICO, 80 million coins were put aside for Binance branding, 20 million were given to angel investors, and the remaining 100 million tokens were distributed to the general public.
📖 The BNB Coin was first released on the Ethereum network as an ERC-20 token. The Binance Chain blockchain, currently referred to as BNB Beacon Chain, was introduced by the Binance ecosystem in 2019. Users of the previous BNB token that complied with ERC-20 were able to exchange their tokens for the new BEP-2 BNB currency at a 1:1 ratio.
Read more about Binance Coin on our blog: https://ownrwallet.com/blog/what-binance-coin-bnb-and-how-does-it-work/