BNB Chain Announces BNB Greenfield Whitepaper, A New Web3 Storage Network

Key Points:

• Greenfield, a new storage-based Web3 network launched by BNB Chain, seeks to provide consumers sovereignty over their data.
• Users will be able to store data on a distributed network and access or monetize it via smart contracts on the BNB Smart Chain.

The BNB Chain development team announced the launch of BNB Greenfield, a decentralized storage infrastructure within the ecosystem, where users and dApps can create, store and exchange data with full ownership to form a new data economy.

Currently, the BNB Greenfield white paper has been released. Potential use cases for BNB Greenfield include personal cloud storage, hosting and deploying websites, new social media models, and storing terabytes of data from BNB Smart Chain and L2 Rollup transactions.

BNB Greenfield consists of a trinity that works together to provide a decentralized data storage system with users at the center:

• BNB Greenfield Blockchain + Storage Providers.
• New BNB Greenfield dApps.
• Existing BNB Chain dApps.

The BNB Greenfield testnet is supported by community development teams from Amazon Web Services, NodeReal and Blockdaemon, and will serve as the third chain in the BNB Chain public chain system in addition to the BNB Beacon Chain and BNB Smart Chain, while it still uses BNB as the native token.

According to the whitepaper, with BNB as its native token, users will be able to store data on a distributed network and access or monetize it via smart contracts on the BNB Smart Chain. In particular, users with BNB and BNB Chain addresses can store data on BNB Greenfield, similar to Web2 cloud storage services such as DropBox.

Greenfield is the BNB ecosystem’s third blockchain network, following BNB Beacon Chain, which focuses on BNB governance and security, and BNB Smart Chain, which focuses on smart contract development.

A network like this would cater to Web3 apps, particularly those related to social media. HGreenfield, a new storage-based Web3 network launched by BNB Chain, seeks to provide consumers sovereignty over their data. However, for data and computational demands, the network will continue to rely on centralized cloud providers such as AWS.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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