BNB Chain releases whitepaper for new Web3 blockchain

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BNB Chain introduced the discharge of the Greenfield whitepaper on Wednesday, 1 February 2023.
The new blockchain will present the infrastructure for a decentralised knowledge economic system, powered by BNB.
Developers are engaged on a testnet anticipated over the subsequent few months.

The BNB Chain group has as we speak launched the whitepaper for a new decentralised knowledge possession and storage community dubbed BNB Greenfield.

According to the whitepaper, the blockchain-based Web3 knowledge system will supply an infrastructure and ecosystem wanted for a decentralised knowledge economic system.

Notably, BNB Greenfield will leverage sensible contracts to facilitate simple storage and administration of knowledge, serving to to energy the way forward for Web3 innovation. The BNB Chain group says Greenfield is “the new standard in Web3 data ownership and utility.”

BNB Chain is happy to announce the discharge of the BNB Greenfield whitepaper.

This new normal in Web3 knowledge possession and utility introduces a new structural and financial paradigm for knowledge within the #Web3 period.https://t.co/6IZH1bJevW

[1/7] 🧵… pic.twitter.com/tlCi77ZwPb

— BNB Chain (@BNBCHAIN) February 1, 2023

The structure of BNB Greenfield

Although it’s a new blockchain, BNB Greenfield’s infrastructure works inside a trinity, with a storage-oriented blockchain (BNB Greenfield Core), decentralised purposes system (BNB Greenfield dApps) and a cross-chain bridge on the BNB Smart Chain.

All these functionalities are a part of the BNB Chain, a blockchain infrastructure of Binance.

In a blog post, the BNB Chain group mentioned the blockchain will permit dApps to create, retailer and switch knowledge in addition to monetize it inside a sensible contracts-enabled ecosystem.

Among the potential use instances on the BNB Greenfield blockchain embody decentralised purposes in web site internet hosting, private cloud storage, blockchain knowledge storage, publishing and social media. Across all of the use instances, full possession of the information means customers can wholly profit from the new knowledge economic system.

The Binance Coin (BNB) would be the native token powering the complete ecosystem. As such, customers will be capable to switch BNB from BSC to the Greenfield community, and vice versa, with holders capable of stake cash, pay fuel charges or knowledge storage charges.

When will BNB Greenfield launch?

BNB Chain expects to launch BNB Greenfield in coming months, the group announced, including that they’re at present engaged on a testnet. The venture entails a collaboration with Amazon Web Services (AWS), NodeReal and Blockdaemon.