BNB Chain releases whitepaper for new Web3 blockchain

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  • The BNB chain announced the release of its greenfield whitepaper on Wednesday, February 1, 2023.
  • The new blockchain will provide the infrastructure for a decentralized data economy powered by BNB.
  • The developers are working on the testnet expected in the next few months.

BNB Chain team released today white paper For a new decentralized data ownership and storage network called BNB Greenfield.

According to the whitepaper, the blockchain-based Web3 Data System will offer the infrastructure and ecosystem needed for a decentralized data economy.

Specifically, BNB will leverage smart contracts to facilitate easy storage and management of Greenfield data, helping to power the future of Web3 innovation. BNB Chain Team Says Greenfield Is “The New Standard in Web3 Data Ownership and Usability,

Architecture of BnB Greenfield

Although it is a new blockchain, BNB Greenfield’s infrastructure operates within a trinity with a storage-oriented blockchain (BNB Greenfield Core), decentralized application systems (BNB Greenfield DAPPS) and a cross-chain bridge on the BNB Smart Chain.

All these functionalities are part of BNB Chain, which is a blockchain infrastructure binance,

one in blog postThe BNB Chain team said that blockchain will allow DApps to create, store and transfer data as well as monetize it within a smart contract-enabled ecosystem.

Potential use cases on the BNB greenfield blockchain include website hosting, personal cloud storage, blockchain data storage, publishing and decentralized applications in social media. Full ownership of the data, across all use cases, means users can fully benefit from the new data economy.

Binance Coin (bnb) will be the basic token powering the entire ecosystem. Thus, users will be able to transfer BNB from BSC to the Greenfield network, and vice versa, allowing holders to stake coins, pay gas fees or data storage fees.

When will BNB Greenfield launch?

BNB Chain Expected to Launch TeamBNB Greenfield in the Coming Months announced, adding that they are currently working on the testnet. The project includes collaborations with Amazon Web Services (AWS), NodeReal, and Blockdaemon.

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