Binomial Nomenclature is a process of naming species with a name which consists of two parts and is universally accepted.It is mostly latin.
Carolus Linnaeu proposed this system.
This is the most acceptable form because different countries of the world have different languages and they have different names for different species.So to have a common name through which they can be referred by scientists and students all over the world without any confusion.
The binomial nomenclature is a system of scientific naming of an organism using generic name as the first part and specific name as the second part.

Carolus Linnaeus proposed this system.

The advantages of scientific over common names are that they are accepted by speakers of all languages, that each name applies only to one species, and that each species has only one name.