Definition: Binance, also known as Binance Coin (BNB), is a decentralized cryptocurrency that was created by Alameda Research. It is a peer-to-peer blockchain platform for trading in cryptocurrencies like Bitcoin, Ethereum, and other altcoins. The word "BCX" is an acronym for the abbreviation of 'Blockchain Currency Exchange'. This term is used to describe Binance's exchange system where users can buy, sell, trade, and mint (generate) digital assets using the BNB cryptocurrency.
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