Expanding Use Cases for BNB Tokens
Blockchain “BNB Chain”, in which major crypto asset (virtual currency) exchange Binance participates in the ecosystem, released a white paper on distributed storage infrastructure “BNB Greenfield” on the 1st.
BNB Greenfield was developed to provide data independence and true ownership to the Web3 community. It is currently being developed in collaboration with Amazon Web Services (AWS) and others, and explains that it plans to launch a testnet in a few months.
BNB Chain is excited to announce the release of the BNB Greenfield whitepaper.
This new standard in Web3 data ownership and utility introduces a new structural and economic paradigm for data in the #Web3 era.https://t.co/6IZH1bJevW
[1/7] 🧵… pic.twitter.com/tlCi77ZwPb
—BNB Chain (@BNBCHAIN) February 1, 2023
What is storage
Refers to the device or place where data is stored. In the blockchain area, projects such as “Filecoin,” “Arweave,” and “Storj” provide storage services.
To provide users with decentralized storage, BNB Greenfield has three central roles:
- BNB Greenfield Blockchain and Storage Provider
- New dApps (decentralized apps) from BNB Greenfield
- Existing dApps on BNB Chain
BNB Greenfield will be connected to the BNB chain, providing existing dApps with a new means of data storage. This time, as part of the use case, the following contents are introduced.
- personal cloud storage
- Website hosting and deployment
- new social media model
- Storage of large amounts of data (several terabytes)
Binance CEO Changpong Zhao (CZ) commented on the announcement:
I have a new big project underway right now. If it works well, BNB’s utility will extend to blockchain storage.
One coin runs multiple chains and creates multiple utilities.
Another big project underway. #Bnb‘s utility expands to blockchain storage. One coin, multiple chains, multiple utility. BUILD. https://t.co/rlKCVJY7kI
— CZ 🔶 Binance (@cz_binance) February 1, 2023
According to the whitepaper, BNB Greenfield will use BNB as its main utility token.
What is BNB chain
The BNB chain is a blockchain created by Binance, but is currently being developed by the community. Last October, Binance published a blog titled “Differences between Binance and BNB Chain,” explaining that Binance is just one of many contributors operating in the BNB Chain ecosystem.
Relation: What is Binance, the world’s largest virtual currency exchange?
Originally, the BNB chain consisted of multiple products. At its core are the BNB Smart Chain (formerly Binance Smart Chain) and the BNB Beacon Chain (formerly Binance Chain).
In August of last year, BNB Chain announced a new scaling solution, zkBNB. zkBNB is a unique solution that utilizes ZK Rollup’s technology, and the purpose of its introduction is to improve the scalability of the blockchain.
Relation: BNB Chain announces new scaling technology “zkBNB”
Also, this time the collaboration with AWS was revealed, but in September last year it announced a partnership with Google Cloud. Web3 startups using the BNB chain can now take advantage of various services and tools provided by Google Cloud.
Relation: BNB Chain Partners with Google Cloud, Aims to Accelerate Web3 Development