February 1, 2023 - BNB Chain, the smart contract blockchain with the most daily active users in the world, announced a white paper on a new blockchain-based Web3 infrastructure that will revolutionize users’ freedom and control over their own data.

The BNB Chain core team and some community developer teams, including Amazon Cloud (AWS), NodeReal and Blockdaemon, have begun work around BNB Greenfield and plan to release a test network within a few months.

The white paper outlines the design of BNB Greenfield, a decentralized storage system with smart contract integration for Web3 applications. BNB Greenfield uses BNB as its native token and will become the third chain in the BNB public chain system. The other two are BNB Beacon Chain, which focuses on BNB governance and security, and BNB Smart Chain, which is used for smart contract calculations.

"With the rise of decentralized finance (DeFi) platforms, 2021 is a year of breakthrough progress for decentralized finance. In 2022, we saw new trends in decentralization, namely the rise of NFTs and the rise of digital ownership. Decentralization. Now, in 2023, through BNB Greenfield, BNB Chain will create a new theme of data ownership and utility. BNB Greenfield will bring utility and financialization opportunities to data in storage, and bring data ownership Programmability,” said Victor Genin, senior solutions architect at BNB Chain.

The white paper states that BNB Greenfield is a decentralized and convenient infrastructure for crypto-aware users and developers. Anyone with a BNB Chain address and holding BNB can:

  • Seamlessly store their data on BNB Greenfield in a manner similar to using DropBox on desktop or mobile devices

  • Deploy a website in just minutes without the hassle of signing up or linking a credit card

  • Programmatically manipulate their data using an interface similar to AWS S3

  • Stores historical data of BNB Smart Chain and other infrastructure data of the BNB ecosystem

The white paper also emphasizes that the real revolution of BNB Greenfield is rooted in its native integration with BNB Smart Chain, allowing smart contracts to interact with users’ own data assets.

External accounts or smart contracts on BNB Smart Chain can financially manage ownership and read permissions through NFTs. External accounts and smart contracts cannot manage NFTs solely on behalf of the data, but the data itself. Native cross-chain protocols provide simple operations that promote Web3's "data ownership" concepts, such as:

  • Authors can easily publish digitally and sell their works on BNB Smart Chain directly through smart contracts

  • Data creators can upload and exchange their products in smart contracts and synthesize them with other DeFi

  • New ways of decentralizing social media can be built on BNB Greenfield. Users can own their own data on BNB Greenfield and store their social graph in a decentralized manner, while different social media front-ends will facilitate users to build social networks, and can also pass any form of token through smart contracts Economy to manage fans and subscribers

In the long run, BNB Greenfield can also serve as a good backbone system for trusted computing and federated learning.

Under the hood, the above will be powered by a new BNB Greenfield blockchain and a network of storage providers. The blockchain uses the user's BNB ledger storage to store metadata, while the storage provider maintains an off-chain object storage system to store content data with appropriate redundancy and backup.

Unlike other existing decentralized storage, BNB Greenfield’s data availability is guaranteed through economic incentives and punitive challenge mechanisms: although users can actively choose different storage providers to use at any time, different storage providers Providers can compete to become the main storage provider for more objects in order to obtain more profits; non-functional storage providers that cannot withstand the challenge of data availability will also suffer from the "price reduction" of mortgage deposits.

BNB Greenfield is designed to accommodate both existing Web 2 developers and the large user base. To achieve this goal, the API is designed to be similar to that used by popular cloud storage systems. In addition, storage providers will charge fees in U.S. dollars to provide users with a stable, long-term understanding of the cost of using BNB Greenfield. Despite this, payments will still be made in BNB.