Greenfield is a novel storage-based Web3 network launched by BNB Chain that promises to provide consumers sovereignty over their data.
BNB Chain’s core development team has published a whitepaper on BNB Greenfield, a blockchain-based Web3 platform that integrates smart contract data storage.
According to the whitepaper, users will be able to store data on a decentralized network and access or monetize it using smart contracts on the BNB Smart Chain with BNB as its native coin.
With BNB Greenfield, BNB Chain is establishing a new paradigm for the ownership and value of data, according to Victor Genin, a senior solution architect at BNB Chain. “BNB Greenfield will provide usefulness and monetization prospects for stored data, as well as programmability for data ownership.”
Greenfield is the third blockchain network in the BNB ecosystem, after BNB Beacon Chain and BNB Smart Chain, which concentrate on BNB governance and security, respectively.
This network would cater to Web3 applications, notably social media applications. Nonetheless, the network will continue to depend on centralized cloud providers, such as AWS, for its data and computing requirements.
In the next months, the BNB Chain team will deploy a Greenfield testnet in collaboration with AWS, NodeReal, and Blockdaemon.
Also Read: Charles Hoskinson of Cardano will realise his lifelong dream of eating a dodo egg