- Users and dApps can have full ownership of their data on Greenfield.
- Greenfield exceeded the industry standard in upload and download speeds during testing.
After a rigorous testing phase of six months, BNB Chain is formally moving forward announced the mainnet launch of its Greenfield decentralized storage network, marking a “new era for Web3 data ownership.”
Read Binance Coin’s [BNB] Price forecast 2023-24
Diving in Greenfield
Greenfield is a new blockchain solution that aims to emulate the performance of popular existing Web2 cloud storage solutions, while leveraging smart contracts as the underlying technology.
Leveraging the storage-centric network, users and decentralized applications (dApps) can have full ownership of their data and store it in the cloud for security. Rather, Web2 solutions such as Amazon Web Services (AWS) give centralized entities control over data.
The Greenfield network collaborates with storage providers (SPs). The SPs are storage service infrastructures that respond to user requests to upload and download data. SPs then store the data off-chain with redundancy and backups.
In addition, Greenfield would have its own bridge to BNB Smart Chain, BNB Chain’s EVM-compatible blockchain. This allows the data created on Greenfield to be integrated with DeFi applications, unlocking new use cases and business models.
BNB Chain stated that the network facilitated more than 200,000 on-chain transactions with a unique address count of 150,000 as part of the testing phase. Furthermore, it was claimed that Greenfield exceeded the industry standard in upload and download speeds.
During stress testing, the uplink bandwidth was found to be 30 M/sec, while the downlink bandwidth reached 300 M/sec.
How did BNB respond?
According to an earlier review paper, Greenfield’s native token for gas and governance would be BNB. Despite its deep ties, the fourth-largest cryptocurrency did not react overwhelmingly to news of its launch.
At the time of writing, BNB was valued at $213.45, with a marginal gain of 0.24% from yesterday, per CoinMarketCap.
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Surprisingly, the launch also failed to raise the social bar for BNB. Discussion of crypto-focused social groups dropped sharply, indicating that BNB was not on the public radar.
Moreover, weighted sentiment ended up in negative territory. This implied that the negative commentary surrounding the asset exceeded the positive talk surrounding it.
Source: Santiment
