Binance Coin has announced a scheduled system upgrade starting on April 23rd at 06:30 am UTC. The upgrade process is expected to last for three hours. During this period, Binance web or app users may experience system errors.
Refer to the official tweet by BNB:
#Binance will perform a scheduled system upgrade starting from April 23, 06:30am UTC.
This upgrade will last 3 hours and users may encounter a system error while using Binance Web or App.
Rest assured, funds are SAFU.https://t.co/JlTIubGwHl
BNB Info
BNB is the native coin that powers the BNB Chain ecosystem, including the BNB Beacon Chain and BNB Smart Chain. It serves several functions, such as reducing trading fees on the Binance exchange, paying for transaction fees on both the BNB Beacon Chain and BNB Smart Chain, and being utilized in games and DApps within the BNB Chain ecosystem. It’s also employed to participate in token sales hosted on the Binance Launchpad and provide liquidity on Binance Liquid Swap. Furthermore, BNB can be used for real-world applications, including online and in-store purchases and travel bookings on platforms like Travala.com.
As of September 2020, with the launch of the BNB Smart Chain, BNB can exist in three forms: BNB BEP-2 on the BNB Beacon Chain, BNB BEP-20 on the BNB Smart Chain, and BNB ERC-20 on the Ethereum network.