Binance Coin (BNB) is the native cryptocurrency of the Binance exchange, one of the largest and most popular cryptocurrency exchanges in the world. Created in 2017 as an ERC-20 token on the Ethereum blockchain, BNB has since migrated to Binance's own blockchain, Binance Chain, as a BEP-2 token.

BNB serves multiple purposes within the Binance ecosystem. Primarily, it's used to pay for trading fees on the Binance platform. Users who hold BNB in their accounts receive discounts on trading fees, making it an attractive option for frequent traders.

Additionally, BNB is used in various other applications within the Binance ecosystem. This includes participation in token sales through Binance Launchpad, where BNB holders can use their tokens to invest in new projects launching on the platform. BNB is also utilized for transaction fees and gas on Binance Chain, powering decentralized applications (dApps) built on the platform.

Binance regularly conducts token burns, where a portion of the BNB supply is permanently removed from circulation. These token burns occur quarterly based on trading volume, helping to increase the scarcity of BNB over time and potentially driving up its value.

Moreover, BNB has expanded beyond the Binance ecosystem, being accepted by various merchants and businesses for payments. Binance has also launched Binance Smart Chain (BSC), a parallel blockchain to Binance Chain, which enables smart contract functionality and interoperability with other blockchains, further expanding the use cases for BNB.

Overall, Binance Coin plays a pivotal role in the Binance ecosystem, serving as a utility token with diverse applications ranging from trading fee discounts to powering decentralized finance (DeFi) protocols and beyond. Its continued development and adoption contribute to its significance in the broader cryptocurrency landscape.