BNB Greenfield Testnet Goes Live
BNB Greenfield is a decentralized data storage system and economy. The testing of the Greenfield began on April 10.
BNB Greenfield is an innovative blockchain and storage platform that seeks to unleash the power of decentralized technology on data ownership and the data economy. With a focus on facilitating decentralized data management and access, Greenfield aims to revolutionize the data economy by easing the storing and management of data and linking data ownership with the DeFi context of BNB Smart Chain (BSC).
What sets Greenfield apart from existing centralized and decentralized storage systems are its three key components:
- It allows Ethereum-compatible addresses to create and manage both data and token assets.
- It natively links data permissions and management logic onto BSC as exchangeable assets and smart contract programs with all other assets.
- It provides developers with similar API primitives and performance as popular existing Web2 cloud storage.
The ultimate goal of Greenfield is to establish a test field for new data economy and dApp models, which will undoubtedly aid in the development and evolution of the foundation for Web3.
A crucial issue that the BNB Greenfield project aims to address is that the value of a data asset is not self-evident when held by one person. The value of data assets increases when shared and leveraged by multiple parties, which stems from the ability to write, read, grant rights for sharing data, and even execute data to generate another. These abilities have financial traits that are tradable, and such trades can produce even more value and benefit two parties rather than just one.
BNB Greenfield allows users to:
- “login” with anonymous cryptographic-based keys (IDs);
- create, read, share, and even execute data, with a user experience that is on par with the state-of-the-art cloud storage services today, and at a low cost;
- fully own their data assets and control who can use them and how;
- easily put their data assets into a wide, smart-contract-based economic context to gain financial value with them.
In summary, BNB Greenfield seeks to offer users greater freedom in creating, owning, sharing, executing, and trading their data assets, while also providing transparency on how their data is owned and used.