Binance Coin (BNB)

Crafted with  by Trade Crypto Live

Name Price Supply Volume Market Cap
binance-coin
Binance Coin
$28.06
155,536,713.00 BNB
$191,438,657.00
$4,364,743,703.00

TRENDING

– Binance Chain mainnet has been launched. Public access and BNB mainnet swap will begin on 2019/04/23 2:00 AM (UTC).

– “In accordance with our whitepaper, we have completed our 7th quarterly BNB token burn of 829,888 BNB (roughly $15.6 MM USD equivalent).” 2019/04/15

QUICK STATS

N/A
Binance
BNB/USDT $89,980,900 48%
BNB/BTC $58,372,600 31%
BNB/ETH $11,500,000 6%
The Binance token (BNB) was created during the ICO event to fund the development of the Binance exchange.
The target market of BNB is the general public who would like to trade crypto and/or buy coins and tokens with BTC, ETH and, obviously, BNB.
KuCoin Shares(KCS), NXT(NXT), Bytecoin(BCN)

VIDEOS

BACKGROUND

Whitepaper Summary
BNB has a nice and concise whitepaper. They have thought things through from their ICO to their coin burns. They have even mentioned risks. That is very rare for whitepapers. Although they did not expand on the risks any more than two paragraphs, it was still a very pleasant surprise to see this section in white paper.
Problem Solved
The main purpose of the Binance Token is to help reduce the fees of trading on Binance. Consumers can purchase BNB to trade between coins on the Binance Exchange which helps reduce the cost of trading.
Competitive Edge
The exchange supports a variety of languages such as English, Korean, Japanese and Mandarin. While this particular Exchange is popular among Chinese Investors, the majority of its users are overseas clients, so it’s considered to be more of an International Alt-coin exchange. The exchange is capable of processing 1.4 mil orders/second.

Binance was bootstrapped through a July 2017 ICO that raised approximately $15 million, and its early user base was characterised by a heavy geographic concentration in China.

Consequently, the exchange was disproportionately affected by China’s September cryptocurrency exchange ban, which ordered the closure of domestic bitcoin exchanges and forced Binance to immediately bar a significant number of its users from trading on the platform.

Despite this setback — and stiff competition from other exchanges that have been operating for far longer — Binance has managed to become the world’s highest-volume cryptocurrency exchange that does not support fiat trading pairs, and it often out paces exchanges that do offer fiat pairs.

Development Roadmap
No road map, the token is currently serving its full purpose on the Binance Exchange.

INITIAL COIN OFFERING (ICO)

The Binance Coin (BNB) ICO was held July 2017.
50% 100,000,000 BNB ICO
40% 80,000,000 BNB Founding team
10% 20,000,000 BNB Angel investors
When you use BNB to pay for fees, you will receive a significant discount:
1st Year: 50%
2nd Year: 25%
3rd Year: 12.5%
4th Year: 6.75%
5th Year: No Discount.

BNB Repurchasing plan
Every quarter, BNB will use 20% of their profits to buy back BNB and destroy them, until they buy 50% of all the BNB (100MM) back. All buy-back transactions will be announced on the blockchain. The end goal is to burn half the supply to leave 100MM coins left.

Approx. $15 million USD
July 14th 2017

TEAM INFO

Creators / Founders
Changpeng Zhao
CEO
CZ is the founder of Binance and CEO of BijieTech, a company that provides cloud-based exchange systems to exchange operators. Since founding in Sept. 2015, BijieTech now powers 30+ exchanges in Asia. In the first 12 months since founding, BijieTech closed 36.1 million RMB ($5.3MM USD) in revenue, and will double that in its second year. BijieTech has never accepted any outside investments, being cash flow positive from day one.
Core Development Team
Roger Wang
CTO
Roger is a co-founder and the CTO. He has been working in the financial industry for 10+ years, responsible for building up technical teams, designing the high level architecture of the exchange and clearing systems, and running ops teams to ensure the security and stability of exchange systems.

James Hofbauer
Chief Architect
James is a co-founder and the Chief Architect of BijieTech. He architects and implements the core matching engine and its middle-ware. He also oversees client exchanges’ public endpoints to ensure security and high performance.

Paul Jankunas
VP of Engineering
Paul is the VP of Engineering at BijieTech, responsible for the C++ implementation of the core machine engine. He has over 15 years of experience in developing exchange systems and financial trading applications. He is constantly looking for new ways to improve the performance and scalability of the system.
Prior to BijieTech, Paul worked at SBI BITS, part of SBI Group, in Tokyo. SBI Group is a listed financial services company with interests in a wide assortment of businesses. Paul was responsible for both client and server side development for trading applications.

Allan Yan
Product Director
Allan is a co-founder and the Product Director of BijieTech. Allan has over 10 years of experience in product design, user experience and trading. He drives the innovations in the exchange systems built by BijieTech, and pushes the product far ahead of the the competition in this ultra competitive space.

Sunny Li
Operations Director
Sunny is a co-founder and the Operations Director of BijieTech. He has many years of management and technology consulting experience, has led 20+ exchange systems projects, and provided comprehensive consulting for strategy, operations, risk control and system development.

Notable Advisors
N/A
Notable Investors
N/ARoger Ver of Bitcoin.com
Da Hongfei CEO of Neo

Trade Crypto Live Sentiment

Nothing really sexy here, but who doesn’t like cheaper fee’s! BNB is another exchange created coin that was made to help them make more money. They can have a higher profit margin by having their users trade their own coin pairings. With that said, it is good at what it does. Binance is one of the two major exchanges we trade on and is fast becoming the primary one.
Reference & Links

https://coinmarketcap.com/currencies/binance-coin/#markets
https://coincheckup.com/coins/binance-coin/
https://www.binance.com/
https://coincentral.com/binance-review-simple/
https://www.binance.com/resources/ico/Binance_WhitePaper_en.pdf
https://www.ccn.com/binance-from-ico-to-the-worlds-largest-cryptocurrency-exchange-in-six-months/
https://globalcoinreport.com/how-the-30-million-coin-burn-affects-binance-coin-bnb/
https://www.linkedin.com/in/cpzhao/
https://www.linkedin.com/in/rogerlilaiwang/
https://www.linkedin.com/in/paul-jankunas-4ba9513/
https://www.linkedin.com/in/allannyan/
https://www.linkedin.com/in/SunnyJiachenLi/