What is liquidation in Binance?

Could you please elaborate on what liquidation in Binance entails? I'm curious about how it works and what scenarios might trigger it. Specifically, how does Binance's liquidation process differ from other cryptocurrency exchanges, and what measures does the platform take to protect traders from experiencing liquidation? Additionally, are there any specific risks or consequences that traders should be aware of when trading on margin or with leveraged positions on Binance?