Binance Chain transactions burns BNB (the native token of the Binance ecosystem), according to a fee schedule.
Binance Chain has the basic features of most blockchains:
- Sending and receiving BNB and digital assets
- Issuing new digital assets (we have a standard called BEP-2)
- Mint/burn, freeze/unfreeze, lock/unlock of digital assets
It has DEX and trading-specific functionality:
- Propose exchange listing for trading pairs
- Creating maker/taker orders for traders
- Listing assets from other chains using atomic swaps (BEP-3)
Binance Chain also implements new features, such as
- Threshold Signatures (an alternative to multisig)
- Smart Contracts sidechain (in-progress)
There are different ways to participate in the network, from light nodes to full validators.
Binance Chain follows a philosophy of progressive decentralization. We envision a future where organizations and individuals can run validator nodes, and BNB can be staked to join governance.