Today, BNB Chain is proud to announce the release of the BNB Greenfield whitepaper.
BNB Greenfield introduces an entirely new structural and economic paradigm for data in the Web3 era. The ownership, usage and monetization of data is now possible first and foremost for users, as well as all participants in the BNB Chain ecosystem.
BNB Greenfield utilizes BNB as its native token and becomes the third blockchain in the BNB Chain ecosystem, alongside BNB Beacon Chain and BNB Smart Chain.
BNB Greenfield consists of a trinity that works in concert to provide a novel decentralized data storage system – all with the user at the center. BNB Greenfield itself is a storage-oriented blockchain interacting with a decentralized network of storage providers (SPs). Users upload their data with unique access and usage permissions. Storage providers store that data off-chain with proper redundancy and backup. Metadata of users’ BNB ledger is stored on the BNB Greenfield blockchain.
By way of a native cross-chain bridge, all aspects of the data stored in the BNB Greenfield ecosystem can easily be transferred to BNB Smart Chain, where it can be used both in the existing BNB Chain dApp ecosystem and with a new generation of BNB Greenfield dApps – these new decentralized applications can either help users interact with the BNB Greenfield ecosystem or be Web3 products themselves that leverage the data in new and exciting ways.
The ability to uniquely configure permissions on data in a native smart-contract-enabled environment is the mechanism that enables myriad potential business models that will benefit users and other BNB Greenfield participants.
Individual users can use BNB Greenfield as a personal cloud storage service or publishing platform – and companies can now easily host and deploy their websites via BNB Greenfield – all conveniently managing payments for these services with the BNB token. BNB Greenfield infrastructure can be used to create an entirely new social media model, where users can directly own and monetize their content, as well as their social graphs. And, BNB Greenfield can be used to store terabytes of historic data from BNB Smart Chain, as well as Layer2 rollup transaction data. The possibilities are endless.
The BNB Chain core developer team is actively engaging Amazon Web Services (AWS), NodeReal, and Blockdaemon, and have already begun working on BNB Greenfield with plans for testnet in the coming months. BNB Greenfield is built to be inclusive to both Web2 and Web3 communities. APIs are designed to perform similarly to popular cloud storage systems and while fees will be paid in BNB, they will be charged in USD, providing users with a consistent understanding of BNB Greenfield’s cost structure.
The launch of the BNB Greenfield whitepaper is just the first step in a journey towards greater data independence, ownership and opportunity for users, builders and the broader Web3 community.