The BNB Chain ecosystem is community-driven, open-source, and decentralized. In February 2022, Binance merged the Binance Smart Chain and the Binance Chain to form the new BNB Chain. BNB retains Ethereum Virtual Machine compatibility, implements consensus mechanisms, and has evolved into a multi-chain hub. It is one of the world's largest cryptocurrency ecosystems, with its native token BNB ranking third, having a market cap of $40.9 billion (excluding stablecoins).