Binance Takes on Web3 Infrastructure with BNB Greenfield

Binance just released the whitepaper for its Greenfield project, showing interest in building a blockchain-based Web3 infrastructure.

The whitepaper introduces a fresh perspective on data storage in the Web3 sphere. This will allow users to have full ownership of their data due to decentralized data storage that places the user at the center.

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According to Binance, BNB Greenfield will use Binance Coin (BNB) as its native token. With that, BNB Greenfield becomes the third blockchain in the BNB Chain ecosystem, alongside BNB Beacon Chain and BNB Smart Chain.

The whitepaper suggests that the architecture of BNB Greenfield consists of a trinity of components to provide users with a secure and efficient means of storing data.

Additionally, it was stated that users can upload their data with unique access and usage permissions while storage providers store that data off-chain. The metadata of users' BNB ledger is stored on the BNB Greenfield blockchain.

The Binance team expressed their thoughts about BNB Greenfield:

The launch of the BNB Greenfield whitepaper marks a significant step towards greater data independence, ownership, and opportunity for users, builders, and the broader Web3.

BNB Greenfield use cases also include personal cloud storage services, website hosting, a new social media model, and storage of transaction data.

Binance also mentioned that the BNB Chain core developer team is actively engaging with Amazon Web Services (AWS), NodeReal, and Blockdaemon and plans to launch a testnet in the coming months.