On a blog post Binance explained what is BNB.
In 2017, Binance and BNB were born. Three years later, Binance Smart Chain (BSC) was introduced to the world.
BNB (formerly known as Binance Coin) stands for “Build and Build.” Holding BNB gives you the right to make your voice heard and is necessary to participate in BNB Chain’s decentralized on-chain governance.
They also added that, BNB Chain remains a community-driven, open-sourced and decentralized ecosystem.
