BNB Chain Unveils BNB Greenfield Data Storage Blockchain Solution

BNB Chain, the blockchain supported by Binance, has officially launched its latest product, the BNB Greenfield data storage blockchain.

According to the BNB Greenfield white paper, this decentralized data storage solution is based on BNB Chain's blockchain technology, enabling users and dApps to create, store, and transact data within a unified economy.

Developed by BNB Chain with support from Amazon Web Services (AWS), NodeReal, and Blockdaemon, BNB Greenfield promises to deliver an experience comparable to leading cloud storage services while granting users complete ownership of their data and incorporating the transparency of blockchain into new solutions developed on the platform.

BNB Greenfield is built on three pillars:

• BNB Greenfield Core: A blockchain focused on data storage, functioning as a network of both crypto and traditional storage service providers. Data stored with these providers will be cross-verified with the blockchain to ensure accuracy.
• BNB Greenfield dApps: A suite of decentralized applications that allow users to interact with and store information on Greenfield.
• BNB Smart Chain: BNB Greenfield will use a cross-chain bridge to transfer data with BNB Smart Chain, a sidechain within BNB Chain designed for smart contract creation.

The architecture of BNB Greenfield integrates smart contracts with NFT solutions to manage data ownership and access on the frontend. On the backend, BNB Greenfield will store metadata, while the original data will be preserved by third-party storage providers.

In addition to providing storage for BNB holders with BNB Chain wallet addresses, similar to Dropbox, BNB Greenfield outlines several potential uses, including website hosting, cloud storage, blockchain data storage, censorship-resistant information publishing, social network application development, proof-of-ownership information storage, and data marketplaces.

Thus, BNB Chain now comprises three distinct blockchains:

• BNB Beacon Chain (formerly Binance Chain, launched April 2019): The foundational blockchain handling direct transactions.
• BNB Smart Chain (formerly Binance Smart Chain, launched September 2020): A blockchain supporting smart contracts for token issuance and dApps, compatible with Ethereum and other blockchains.
• BNB Greenfield (launched February 2023): A blockchain focused on data storage.

Binance’s BNB token will serve as the native currency across all three blockchains.

According to DeFiLlama, BNB Chain is currently the third-largest blockchain by Total Value Locked (TVL) at $4.8 billion, recently surpassed by TRON. However, BNB Chain's 24-hour trading volume significantly outpaces TRON and is second only to Ethereum.

Ethereum continues to lead by a wide margin with a TVL of $28.1 billion, accounting for nearly 60% of the total TVL across the crypto market. Ethereum’s 24-hour trading volume is also four times that of BNB Chain.

Top 10 Largest Blockchains by TVL. Screenshot from DeFiLlama on the evening of February 1, 2023.