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home CoinsBNB

Updated 10:10 PM UTC

BNB Binance

$715.85

$1.38

(0.23%)

Today

Mkt Cap$95.82B

Vol511.03M

About Binance

BNB is the native utility token of the BNB Chain ecosystem, acting as a multi-chain asset that powers decentralized applications and facilitates value exchange across its network. It serves as the primary asset for paying transaction gas and smart contract deployment fees while providing users with tiered fee discounts on the Binance exchange. The project’s main value proposition lies in its unified multi-chain architecture, which integrates a smart contract platform, a Layer 2 scaling solution, and a decentralized data storage network into a cohesive settlement and data availability layer. The network operates on a Proof of Staked Authority consensus mechanism, utilizing a group of 21 active validators known as the Cabinet to verify transactions and produce blocks every 3 seconds. Validators are elected daily based on the amount of BNB staked or delegated to them, and the system employs fast finality and slashing penalties to maintain security and integrity. To manage its long-term economy, the project uses a programmatic dual-burn strategy that permanently removes tokens through real-time fee destruction and quarterly buybacks. Launched in 2017 by the Binance platform, the project initially distributed 50% of its 200 million token supply to the public, while the founding team received 40% and angel investors were allocated 10%. Though it began as a token on the Ethereum network, it eventually migrated to its own autonomous architecture that remains fully compatible with the Ethereum Virtual Machine. Today, the token's utility includes paying for network gas, participating in staking rewards, and enabling decentralized governance through which holders can vote on technical upgrades and economic changes.

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Cysic Halts Bridge After 10M CYS Mint Exploit

Cysic halted its cross-chain bridge after an attacker exploited a vulnerability to mint 10 million CYS tokens on BNB Chain without authorization, raising immediate token-supply integrity questions for the zero-knowledge hardware acceleration project. Read original article on nfte...

nftenex

Cysic Halts Bridge After 10M CYS Mint Exploit

nftenex

More News

Veteran Investor Says XRP All Time High Coming. Here’s the Signal

CoinDesk recently published a chart comparing major cryptocurrencies against their December 2017 and January 2018 peaks. Bitcoin sits +314% above its prior high. BNB leads the list at +2,818%. Ethereum gained +66%. Dogecoin came in at +322%. XRP sits 62.5% below its January 2018 ...

Crypto News - Latest Cryptocurrency News

Ledger CEO and Mt. Gox Boss Clash Over Wallet Theft Warnings

TLDR: Ledger wallet theft estimates vary: Galaxy Research counted 91 million dollars across five networks, while trackers including BNB Chain put the total at 93 million to 95 million dollars; Ledger has not confirmed its own figure. Karpelès cited Ledger’s March guide, but the c...

Blockonomi

Cysic Suspends Bridge After Hacker Mints 10M CYS, Moves $727K to Ethereum

TLDR: Cysic halted its bridge after an attacker minted 10 million CYS tokens without backing on BNB Smart Chain. Cysic blacklisted the wallet about 76 minutes later, restricting 2.8 million CYS, or 28% of the mint. Initial on-chain reports link sales of 7.2 million CYS to 306.6 E...

Blockonomi

Cysic Halts Cross-Chain Bridge After 10 Million CYS Minted Without Authorization

The ZK proving network paused its bridge after unauthorized access to a supporting database led to a forged mint of 10 million CYS on BNB Chain.

Blockchain Reporter

Cysic Investigates Unauthorized 10 Million CYS Mint on BNB…

Cysic suspended its cross-chain bridge after an attacker exploited a processing vulnerability to mint 10 million CYS tokens without authorization on BNB Smart Chain on October 17, raising questions about token supply integrity and the potential financial damage to holders. In an ...

Finance Feeds

Q4 Could Flip the Altcoin Market Upside Down: 5 Cryptos Worth Buying Before Momentum Returns

Similarities with the 2020 market structure have renewed interest in a possible altcoin recovery, but they do not guarantee another rally. Litecoin, XRP, Solana, Shiba Inu, and BNB offer different market exposures and risk factors. Bitcoin dominance, trading volume, liquidity, an...

CryptoNewsLand

Renowned Analyst Issues Sell Signal for 3 Altcoins: Watch These Levels

Crypto analyst Ali Martinez issued a warning about three altcoins in his latest assessment. Here are the details. Continue Reading: Renowned Analyst Issues Sell Signal for 3 Altcoins: Watch These Levels

Bitcoin Sistemi

Cysic crypto bridge halted after unauthorized mint of 10M CYS

Cysic crypto bridge halted after uauthorized mint of 10 million CYS

Cointelegraph.com News

Three Altcoins NEAR, Zcash and BNB Flash Sell Signals as Key Supports Near

NEAR has fallen 24% as analyst flags a weekly sell signal, with support at $4.30 and downside risk toward $3.76. Zcash has dropped 25% and BNB 8%, with critical support at $1,100 for ZEC and $710 for BNB. Crypto market capitalization excluding the top 10 assets fell to $220.58 bi...

Crypto Front News

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