What is the BNB chain?

Could you please explain what the BNB chain is? I've heard about it but am not entirely familiar with its functionality or significance in the cryptocurrency space. Could you elaborate on its purpose, how it works, and maybe even some of its key features? I'm particularly interested in understanding how it differs from other blockchains and why it might be preferred by certain users or investors. Would you mind providing a concise yet informative description?