1 Level
9 Review
4 Karma
Review on Binance Coin by Sunny Lee
Bnb is an ERC20 standard token and uses ethereum networks and block chains…
Bnb is an ERC20 standard token and uses ethereum networks and block chains. This means that the coins follow the rules set by the community for the Ethereum Blockchain, but more importantly, the coins benefit from the stability and security of the Ethereum Blockchain and the network.
Pros
- Every yearly quarter , binance takes 20% of the commission and lends it to buy or "burn" or destroy an empty coin. Binance has burned 2,220,314 BNBs, and on April 15, 2018, there were three recent binance makes the remaining coins much more valuable without circulating the coins. This will continue until half of the coin supply or 100 million BNB has been destroyed.
Cons
- The growth of token is limited as it's dependent on the exchange and the usage of the binance coin is becoming highly irrelevant
