BNB Chain

BNB Greenfield Mainnet Launch: A New Era for Decentralized Data Ownership

Offering speed and strong privacy controls, BNB Greenfield aims to change the way users interact with data.

Summary

  • BNB Chain has launched BNB Greenfield, its decentralized data storage network on Mainnet.
  • BNB Greenfield empowers users with control over their data, offering a decentralized alternative to traditional cloud services, enhancing data security.
  • The network processed over 200,000 on-chain transactions with 150,000 unique wallet addresses connected during the test phase.
  • BNB Greenfield employs a two-layer approach, comprising the Greenfield blockchain and a network of storage providers (SPs) to establish a decentralized object storage system.
  • BNB Greenfield boasts high-performance data transfer, built-in access control, cross-chain programmability, data monetization, and serves a variety of use cases, including decentralized hosting, knowledge-economy platforms, and more.

BNB Chain Launches GreenField Mainnet

Following several months of development and testing phase, BNB Chain has unveiled the public mainnet for its novel network, BNB Greenfield. A part of the larger BNB ecosystem, Greenfield represents a decentralized data storage network that allows users and decentralized applications (dApps) to create, store, and exchange data while retaining ownership, fostering a new data-driven economy. 

Greenfield maintains a native cross-chain bridge to BSC (BNB Smart Chain), with BNB serving as the utility token for covering gas and storage fees on the network. 

Network Performance: Test Phase

Demonstrating its robust capabilities, the network processed over  200,000 on-chain transactions, with 150,000 unique wallet addresses connected during the test phase, according to a statement from BNB Chain. The performance highlights the network's ability to handle a significant volume of transactions and support a growing user base.

Earlier in February, BNB Chain released the whitepaper for BNB Greenfield, seeking to offer users greater control over their data assets. This was subsequently followed by the launch of the “Congo” testnet in April.

"BNB Greenfield is a transformative development in Web3 data ownership and data economy, as it provides users with a decentralized alternative to conventional Cloud services. Distinct from centralized offerings, BNB Greenfield empowers users with control over their data, mitigating the risk of breaches and data loss,” said Arnaud Bauer, Senior Solution Architect at BNB Chain.

Bauer also noted the impressive progress observed during the Greenfield Testnet phase and the recent BNB Chain Hackathon, with numerous innovative dApps demonstrating the potential of user-centric decentralized file storage.

How it Works

BNB Greenfield utilizes a two-layer approach that consists of the Greenfield blockchain and a network of storage providers to establish a decentralized object storage system.

  • BNB Greenfield Blockchain: Utilizing BNB for gas and governance, BNB Greenfield acts as a ledger for users while recording storage metadata as shared blockchain state data. The blockchain also features a unique staking mechanism designed for governance, adding an element of user participation.
  • Storage Providers (SPs): BNB Greenfield is supported by a network of "storage providers" - infrastructures offered by organizations or individuals. These SPs use Greenfield as the ledger and the single source of truth. SPs manage user requests for uploading and downloading data and ensure the enforcement of user rights and authentications, functioning as gatekeepers within the ecosystem.

Key Features of BNB Greenfield

The features below highlight the capabilities of BNB Greenfield, designed to revolutionize data management and ownership.

  • High-Performance Data Transfer: Boasting exceptional speed, Greenfield surpasses industry standards for both uplink and downlink bandwidth, achieving up to 30M/sec for uplink and 300M/sec for downlink. Each storage provider (SP) can upload 30 files per second.
  • Built-in Access Control: Users have the power to upload their data and define precise access and usage permissions before the data is stored off-chain. The system includes robust redundancy and backups for data security.
  • Cross-Chain Programmability: Greenfield's blockchain offers cross-chain programmability, enabling BNB Chain users to create their own complementary data products and services.
  • Data Monetization & Exchange: Greenfield empowers users to establish data marketplaces, giving them the freedom to create, list, trade, and sell their data as they see fit.

BNB Greenfield Practical Use Cases

BNB Greenfield extends its core data storage capabilities to serve a wide range of users, including developers, data managers, business owners, and creators. These versatile use cases include:

  • Decentralized Hosting: Secure hosting for websites and applications with benefits like censorship resistance and enhanced security. 
  • Knowledge-Economy Platform: "Pay for knowledge" platform integrating with smart contracts for content creation and access. 
  • IP Infrastructure for AIGC Content: Blockchain-based infrastructure for open tracking, licensing, and remixing of content. 
  • Data Management Solutions: Secure storage for personal data, code, and AI datasets, with decentralized sharing and control. 
  • Content Monetization Ecosystem: Facilitating decentralized social networking, blogging, and more for content creators and projects. 

Several decentralized platforms, including StoryChain, RIDO, NFTPrompt, 4EVERLAND, and Codex Field, are actively exploring these diverse use cases.

Greenfield joins the list of the various networks that make up the extensive BNB ecosystem, which includes BNB Beacon Chain, BNB Smart Chain, opBNB, and zkBNB. Meanwhile, BNB, the ecosystem's native token, holds its position at number 4, currently trading at $213.17 with a 24-hour trading volume of $344,567,196, as per CoinMarketCap data.

On the other hand, the storage token ecosystem, led by Filecoin (FIL), Internet Computer (ICP), and Ocean Protocol (OCEAN), has experienced a 2.54% decline in the last 24 hours, bringing its market capitalization to $4,628,762,422.

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