• 23 July, 2024
News

Binance’s BNB Chain to Launch BNB Greenfield

Binance’s BNB Chain announces the release of BNB Greenfield, a new web3 data ownership and utility standard. BNB Chain states it is a new structural and economic paradigm for data in the web3 realm.

BNB Greenfield is a trinity that works together to provide a decentralized data storage system with users at the center.

Sharing the BNB Greenfield whitepaper release, BNB Chain tweeted:

Per BNB Chain, the BNB Greenfield trinity includes:

  1. BNB Greenfield Blockchain + Storage Providers.
  2. New BNB Greenfield dApps.
  3. Existing BNB Chain dApps.

BNB Greenfield will merge the power of decentralized blockchain and storage technology with data ownership and data economy. With BNB Greenfield, users would be able to

Upload their data with unique access and usage permissions.

BNB Greenfield facilitates Ethereum-compatible addresses to develop and manage data and token assets. It offers developers identical API primitives and performance as the ones popular on web2 cloud storage.

Companies providing storage would be storing that data off-chain with redundancy and backup in place. The BNB Greenfield blockchain would store users’ BNB ledger metadata. A native programmable layer tends to connect BNB Greenfield with BNB Smart Chain (BSC).

This eventually paves the way for new and existing #dApps to leverage data stored on the network in new and exciting ways.

The possible use cases for BNB Greenfield, per BNB Chain, are as follows:

  1. Personal cloud storage
  2. Hosting and deploying websites
  3. New social media model
  4. Storing terabytes of BNB Smart Chain and L2 Rollup transactions’ data.

The BNB Chain core developer team, in collaboration with AWS Cloud, NodeReal, and Blockdaemon, built the BNB Greenfield testnet. The BNB Greenfield whitepaper release is the first step towards enhanced “data independence, ownership, and opportunity” for users, builders, and the web3 community.

Market Sentiment Is Leaning Towards an Optimistic Outlook Ahead of the FOMC Meeting Read Previous

Market Sentiment Is Leaning Towards an Optimistic Outlook Ahead of the FOMC Meeting

U.S. SEC to Face Financial Services Committee Scrutiny Next? Read Next

U.S. SEC to Face Financial Services Committee Scrutiny Next?