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Buy BNB

6,484,132 Build and Build positions opened on eToro

BNB
Build and Build
599.74
-0.41%
BTC
BTCBitcoin
66117.47 0.7%
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DASH
DASHDash
31.16 0.19%
Buy
MIOTA
MIOTAIOTA
0.25 2.94%
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DOGE
DOGEDogecoin
0.16 0.47%
Buy

In 2017, Binance, a decentralized finance (DeFi) company, was launched alongside BNB, the platform's native cryptocurrency. BNB was initially released on the Ethereum blockchain, but as Binance grew, it introduced Binance Chain and Binance Smart Chain to support BNB and other projects.

In early 2022, Binance combined Binance Chain and Binance Smart Chain to create BNB Chain, which helped to simplify the protocol and gave new meaning to BNB, which was rebranded to mean "Build and Build."

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Historical Price Charts

Past performance is not an indication of future results.

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How does BNB Chain work?

BNB Chain operates in a similar manner to other mainstream blockchain networks, some elements of which are broken down below.

Blockchain

The BNB Beacon Chain is the staking and governance layer of the BNB ecosystem, while the BNB Smart Chain is an EVM-compatible blockchain that helps connect BNB Chain to other networks.

Here are some key technical elements that define how the BNB Chain blockchain operates:

     
  • Multi-chain scaling: BNB Chain utilizes a multi-chain setup to manage additional transactions and applications.
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  • Validator expansion: BNB Chain increased the number of validators from 21 to 41 to ensure more robust network security.
    •  
  • Ethereum compatibility: BNB Chain is compatible with Ethereum Virtual Machine (EVM), allowing for interoperability and easing the transition for developers familiar with Ethereum coding.

Transactions

BNB Chain simplifies transactions using the Parlia consensus engine. This combines Proof of Authority and Proof of Stake into a Proof of Staked Authority (PoSA) consensus mechanism, which uses a set of validators, elected by BNB stakers, to produce and validate blocks.

Here's a brief breakdown of how BNB Chain transactions work:

     
  • Initiation: Users start a transaction in their BNB Chain wallet, entering the recipient's public key and the amount they want to transfer.
    •  
  • Validation: The transaction waits for the elected validators to confirm it.
    •  
  • Confirmation: Once validated, your transaction is confirmed and recorded on BNB Chain.
    •  
  • Reward Distribution: Post-validation, reward details are sent to BNB Chain for distribution to validators for their efforts in maintaining the network.
How can I buy BNB?

Follow these steps to buy BNB:

     
  1. Register on eToro: Sign up for a cryptocurrency exchange or trading platform such as eToro. Make sure that it offers BNB first!
    2.  
  2. Deposit funds: Fund your account using the available payment methods.
    3.  
  3. Purchase BNB: Once you have found the BNB market page using the search bar, specify how many BNB tokens you want to buy and complete the transaction.

These steps will allow you to purchase BNB and participate in the BNB Chain ecosystem.

Buy BNB

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