Summary
In February 2023, BNB Chain released the BNB Greenfield white paper, proposing a new data structure and economic paradigm in the Web3 era. BNB Greenfield is the third blockchain in the BNB Chain ecosystem after the BNB Beacon Chain and BNB Smart Chain, using BNB as its native token.
In short, BNB Greenfield provides a decentralized storage infrastructure within the entire BNB Chain ecosystem, so users and Decentralized applications (DApps) can create, store and exchange data that they fully own. This move creates a new data-driven economy, and all participants in the BNB Chain ecosystem can now own, use, and profit from data.
Web3 is people’s vision for the future of the Internet. In the Web3 era, users have greater control over their data and online experience. In the process of migrating to Web3, blockchain technology has played a huge role, enabling peer-to-peer (C2C) transactions that can be achieved without the participation of a trusted third party, and creating DApps that rely on smart contracts to automatically reach agreements.
To fully unleash the potential of Web3, transparency and data ownership are the next issues that need to be addressed. Therefore, the market demand for decentralized storage is increasing. With decentralized storage, data can be stored and accessed in a distributed manner without being stored on a single decentralized server. To meet this need, BNB Greenfield plans to create a decentralized data storage system and the entire economy that goes with it.
Decentralized data storage is a way of storing data across a distributed network of computers rather than in a single central location. After the data is divided, it will be distributed to multiple computers or nodes to achieve cross-network storage, and the data will be stored in each node. This allows large amounts of data to be stored without relying on a central server or single controlling entity.
On the other hand, centralized data storage has been popular for many years. Centralized data storage requires data to be stored on a single server (or a cluster of servers in a co-located location), with all data managed by a specific provider. For example, cloud storage is typically centralized data storage, with data stored on servers controlled by a single company such as Amazon or Google.
Proponents of centralized data storage believe that since all data is stored in one place, it improves data management and access. Convenience. In addition, the centralized entity responsible for managing the data is responsible for taking appropriate security measures and ensuring that there are processes in place to back up and restore the data when necessary.
However, centralized data storage structures also have their weaknesses. Because all data is stored in one place, hackers can exploit single points of failure to launch attacks. In addition, once there is a problem with the central server, all data stored in that server will be inaccessible. Decentralized data storage can solve this problem.
versus centralized data storage In comparison, decentralized data storage has many advantages.
Higher security. In the decentralized storage model, data will be distributed and stored across multiple nodes instead of being stored on a single server. Therefore, it is more difficult for hackers to sneak into the data storage to steal information.
Greater resilience. Unlike centralized storage systems, decentralized storage does not have a single point of failure because data is stored in multiple nodes. Therefore, even if a node fails, users can still access data through other nodes in the network.
Users have greater freedom and can better control their data. Relying on decentralized storage, users can control their own data and how to use and access it. This way, the data is not subject to the policies of centralized vendors, who may change their data usage terms at any time.
Higher privacy. Another advantage of putting users in charge of their own data is that it becomes much more private. Unlike centralized entities, storing data in decentralized systems does not require the submission of personal information.
Markets are more efficient. Decentralized storage systems involve a token economy that incentivizes individuals to earn rewards for contributing available storage resources. This in turn increases the sustainability and centralization of the ecosystem.
Decentralization is one of the core attributes of Web3 blockchain technology, and its key design principle is not to have a single manager or management organization. The technology ensures users secure transactions without relying on third parties to maintain trust.
In addition, decentralized technology also enables automatic interaction of smart contracts, allowing the creation of DApps that support a large number of products. Including decentralized finance (Defi) services and GameFi, etc.
As a distributed blockchain network, BNB Chain allows developers and innovators to build DApps, thereby promoting the transition to Web3 migrate. At the time of writing this article (February 2023), BNB Chain is the smart contract blockchain with the largest trading volume and the largest number of daily active users in the world.
On February 1, 2023, BNB Chain announced the release of the BNB Greenfield white paper. In summary, BNB Greenfield provides decentralized storage infrastructure across the entire BNB Chain ecosystem. The concept aims to help users and DApps create, store and exchange data that they fully own, and form a new data economy.
BNB Greenfield is a storage-centric blockchain that interacts with decentralized network storage providers (SPs) . Users upload data with unique access and usage rights. SP stores this data off-chain with appropriate redundancy and backup, while users’ BNB ledger metadata is stored on the BNB Greenfield blockchain.
Since the BNB Chain ecosystem has a native cross-chain bridge, all types of data stored in the BNB Greenfield ecosystem can Easily transferred to the BNB Smart Chain, so that it can be used in both the existing BNB Chain DApp ecosystem and the new generation of BNB Greenfield DApp. These DApps not only help users interact with the Greenfield ecosystem, but also act as Web3 products to leverage existing data.
Configuring unique data permissions in a native environment that supports smart contracts can promote a large number of potential business models, thereby enabling users and other BNB Greenfield Participants benefit.
To create a new batch of DApps, BNB Greenfield can A few use cases for unlocking are:
Website hosting. Because BNB Greenfield provides API services and the concept it uses is very similar to Amazon S3, users can easily deploy their websites relying on BNB Greenfield, and can also use BNB to conveniently manage payments.
Personal cloud storage. With BNB Greenfield, users can create their own network drives using private keys to upload and download their encrypted files, photos and videos from desktop and mobile devices.
Blockchain data storage. TheL1 blockchain contains dozens of terabytes of historical data, much of which lies dormant. BNB Greenfield can be used to store this dormant data, thereby reducing L1 latency, improving data availability, and delivering this data to L1 when needed. In addition, Greenfield can also be used to store L2 aggregate transaction data at a lower cost.
Publish content. Creators can store their works on BNB Greenfield and mirror them to the BNB Smart Chain. After the buyer pays, they will grant read permission to the buyer's address to complete the transaction.
Social media. BNB Greenfield provides the infrastructure for social media influencers and key opinion leaders to fully own their content and data. For a fee, DApps can use this data and publish it to the public through decentralized social networks.
Personal data market. Perhaps the most complex problem to be solved is how to own your data (such as page views, registrations, clicks, and behavioral data, etc.) to avoid mismanagement or even abuse of this data by platforms such as large centralized monopolies. .
BNB Greenfield will enable applications to store your personal encrypted data in your own personal account, other Applications that need to use this data must obtain your authorization. Even better, you could even charge for this type of data usage.
As of February 2023, BNB Chain’s core development team has been actively engaging with Amazon Cloud Services (AWS), NodeReal and Blockdaemon. At the same time, the team has started the development of BNB Greenfield and plans to launch a testnet in the next few months.
BNB Greenfield aims to involve both the Web2 and Web3 communities. The API's performance is similar to popular cloud storage systems, and while fees will be denominated in BNB, they will be charged in U.S. dollars, giving users a consistent understanding of BNB Greenfield's cost structure.
As can be seen from the list of use cases in the previous article, with the arrival of BNB Greenfield, a wave of new DApp Web3 businesses are both innovative and transparent. Patterns may emerge.
To fully unleash the potential of Web3, transparency and data ownership are the next issues that need to be addressed. BNB Greenfield will continue to work with the entire Web3 community to develop this new area so that the next generation of users can benefit from it.
In February 2023, BNB Chain launched the BNB Greenfield white paper, but this is only implemented by users, developers and the entire Web3 community The first step to data independence, taking ownership of your data, and monetization opportunities.
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