While the whole India was buzzing around the Indian Union Budget 2023 that happened Yesterday, another blockbuster and big launch happened in the crypto space.
Yes!! To all the tech enthusiasts and crypto tribes, this is for you!
The BNB Chain team has released the whitepaper for a new DLT data ownership and storage network dubbed BNB Greenfield.
BNB Greenfield is a decentralized storage infrastructure where users can create, store and exchange data with full ownership, creating a new structural and economic paradigm for data.
They have some amazing use cases such as:
- Personal Cloud Storage
- Hosting and Deploying Websites
- New Social Media Model
- Storing Terabytes of Data from BNB Smart Chain and L2 Rollup Transactions
Notably, BNB Greenfield will leverage a blockchain, not to use it as a data system, but will utilize smart contracts off-ledger in L2 of the blockchain to facilitate storage and management of data.
BNB Greenfield’s architecture will work within a trinity:
- A storage-oriented solution (BNB Greenfield Core),
- Distributed applications system (BNB Greenfield DApps)
- A contract cross-chain bridge to BSC (BNB Smart Chain).
With BNB as its native token, users will be able to store data on a distributed network and access or monetize it through smart contracts on the BNB Smart Chain.
Greenfield would cater to Web3 apps particularly around social media. However, the network will still rely on centralized cloud providers like AWS for data and computational needs. Also the project involves a collaboration with Amazon Web Services (AWS), NodeReal and Blockdaemon.
The team announced it expects to launch BNB Greenfield in the coming months adding that they are currently working on a testnet.