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Definition: Binance


The largest cryptocurrency exchange by trading volume. Binance also has its own cryptocurrency and blockchain. Launched in 2017 by Changpeng Zhao, who goes by "CZ" and was one of the first crypto billionaires, Binance was originally based in China but moved to various locations due to increasing restrictions on cryptos by the Chinese government.

Coin, Blockchain and DeX
Binance Coin (BNB) is Binance's own cryptocurrency. Originally running on Ethereum, BNB was later moved to its own blockchain network (Binance Chain) and decentralized exchange (Binance DeX). See decentralized exchange and cryptocurrency exchange.

NFT Marketplace
In 2021, Binance announced NFT Marketplace, a new platform for trading non-fungible tokens (NFTs) See non-fungible token.