Original source:
Original source:Future little brother
The decentralized, non-tamperable and transparent features of the blockchain allow it to be applied in many fields, such as CBDC, property rights protection, supply chain management, and also important data storage.
Blockchain storage technology provides a decentralized, efficient, and low-cost data storage solution. At present, there are FIL, AR, Storj and other types of projects. In the hot spot analysis article in 2020, this part of the blockchain storage project was introduced as an example.
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1. BNB Greenfield infrastructure
The assumptions of this system design are:
Assumption 1: Most data providers and blockchain validators are relatively reasonable entities and individuals. Normally they will not do evil, because the cost of their crime is far greater than the profit.
Assumption 2: Both the service provider and the consumer want the actual contract to allow limited liability and provide an opt-out option.
Assumption 3: Data has value, and users want to extract this value through smart contract automation, privacy, and transparency. This makes the cross-chain design between BNB Greenfield and BNB Smart Chain (BSC) considerable. This is the most important assumption and hopefully close to the truth.
Narrow BNB Greenfield: (easiest to understand)
This working public chain is called BNB Greenfield Blockchain,Abbreviation (GF)
Used to record and store consensus metadata, BNB, as its native token for gas and governance, has its own governance logic. Storage Provider (SP) provides storage services and plays corresponding roles. Use GF public chain records. Each SP is capable of responding to user requests to write (upload) and read (download) data.
Then this big green frame (GFB+SP) is also called BNB Greenfield Core (green core). If you understand it quickly in a narrow sense, this is the core structure of the BNB storage chain. Of course, ecological interoperability and win-win are not added here factor.
Complete BNB Greenfield system: (Join ecological interoperability and win-win cooperation)
As shown in the figure, the complete BNB Greenfield system has joined the relatively mature BSC public chain and BN community users. When users want to create and use data on Greenfield, they can use BNB Greenfield dApps (decentralized application program) interacts with the BNB Greenfield core infrastructure. There is a native cross-chain bridge between GF chain and BSC.
The BNB Greenfield chain uses the Tendermint consensus-based POS mechanism to ensure its own network security, creating blocks every 2 seconds. Here, the responsibilities of the validator (Validator) of the GF chain and the SP are not the same.
The core functional modules of the BNB Greenfield system include:
Account module:Used to manage user account information, including address, balance, etc.
Transaction module:It is responsible for processing transaction information between users, including transaction amount, fees, etc.
Contract module:Allows users to implement automated transactions and business logic through smart contracts, and can also be used to implement decentralized applications.
Application ecology:Including developing and supporting various applications and DApps (decentralized applications), functions and services for users.
storage node:The storage module node is used to store data such as transaction information and account information on the blockchain. Nodes are responsible for the infrastructure for storing and retrieving data. Storage nodes can participate in the network in a variety of ways, such as using Binance-hosted cloud storage services, building storage nodes by themselves, or using third-party storage service providers.
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2. The economic model of BNB Greenfield
As the native token of the BNB Greenfield chain, BNB has multiple uses, including payment of handling fees, participation in node elections, and purchase of DApps. The total circulation of BNB will remain unchanged, but will flow between BNB Beacon Chain, BSC and Greenfield. The initial BNB will be anchored through BSC and cross-chained to the GF chain.
In the BNB Greenfield storage project, the role of BNB mainly includes:
Pledge business and application consumption:Pledge consumption scenarios such as margin and event activities
Storage service fee:Users need to pay certain fees when using storage services, and these fees can be paid using BNB.
Storage node rewards:Storage nodes can obtain BNB rewards after providing high-quality storage services.
Storage mining rewards:Users can obtain BNB rewards by uploading data to the storage network.
Node participation rewards:Storage nodes participate in the maintenance and management of the storage network and receive rewards.
Governance and voting are done with BNB tokens.Users who hold a certain amount of BNB tokens can participate in decision-making, such as voting on storage service fees, node rewards, mining rewards, etc.
New asset concept: the asset characteristics of data are based on permissions,For example, read data permissions. When such permissions are separated from the data, they become tradable assets and amplify the value of the data. When the data itself can be executed by a new type of smart code, interacting with each other and generating new data, its value can be further amplified. This creates a lot of room to imagine building a new, data-intensive, trustless computing environment.
Second, data permissions can be transferred across the chain to BSC and become digital assets on BSC. This will create multiple possibilities for integrating these assets with existing DeFi protocols and models on BSC. And every interaction and creation combination will also promote the usage scenarios of BNB and release some potential.
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3. The market potential of BNB Greenfield:
1. At present, the demand for global storage data is growing, especially in the era of digitalization and cloud computing, the storage demand has doubled. Although the demand for Web3 decentralized storage has not yet started blowing out, everything needs to be prepared for a rainy day. Once the metaverse, the storage after the tokenization of various assets, and digital certificates start to be popularized on a large scale, there will be a huge demand at that time. The storage guided by blockchain technology can better meet the needs of users, especially in terms of data security and reliability.
2. BNB GF directly owns Binances ready-made user base and community consensus. This means that the Greenfield storage project can at least get the support and knowledge popularization of more users and communities, making it more famous and competitive in the market.
3. The BNB Greenfield storage project adopts a relatively stable consensus mechanism that allows users to trust the network relatively more, and because of the ecological interoperability and EVM automatic compatibility, it further enables the BNB Greenfield storage project to have a relatively latecomer advantage and competitiveness in the market .
4. GF provides developers with comprehensive development tools and modules, which can also attract more developers to participate in the construction and development of the BNB Greenfield blockchain ecosystem and subsequent interactions. At the same time, the cross-chain model enables project parties and developers to switch quickly within the ecosystem. This advantage enhances the attractiveness and competitiveness to a certain extent.
Personally, I think that the BNB Greenfield storage project, as an emerging blockchain storage ecology, has market potential worth looking forward to and enough room for imagination. It can meet users needs for safe, reliable, efficient, and low-cost storage services, and bring more sustainable development and innovation to the entire ecosystem.
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4. Comparison of four major storage projects: BNB Greenfield, Arweave, FIL, and Storj
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5. Main potential cases of BNB Greenfield (official website):
1. Website Hosting
Since BNB Greenfield provides an api and uses a very similar concept to Amazon S3, users can easily deploy their website through BNB Greenfield and conveniently manage their payments through BNB.
2. Personal cloud storage
Users can use BNB Greenfield to create their own network drives to upload and download encrypted files, photos and videos with private keys via desktop and mobile devices.
3. Blockchain data storage
Layer 1 contains tens of terabytes of historical data, much of which is useless or dormant. BNB Greenfield can be used to store this data, reducing L1 latency and increasing data availability, as well as seamlessly transferring dead or dormant data to L1 when needed. BNB Greenfield can also be used as a cheaper option for storing L2-Rollup transaction data.
4. Content publishing
Authors can store their works on BNB Greenfield and mirror them on BNB Smart Chain, where they can sell them after receiving payment by granting read access to the buyers address. Providers of other written data such as historical statistics, scientific papers, etc. may do the same. BNB Greenfield currently has no anti-piracy design. Authors, publishers and dapps should be aware of these limitations and choose to use BNB Greenfield at their own risk. In the future, BNB Greenfield may introduce more copyright-related functions.
5. Social Media
BNB Greenfield provides an optimal infrastructure for social media influencers and KOLs to fully own their content and data. After paying, dapps can still use this data - including the content itself and the associated social graph - and publish it to the public through the decentralized social network. BNB Greenfield also makes it easy for creators to take advantage of the infrastructures unique licensing model to create private subgroups for their followers.
6. Token Management Registration Center
BNB Greenfield provides a perfect solution for token management lists. The smart contract on the BNB smart chain can undertake the complete governance and incentive logic of the registration, and at the same time have the right to create each list object for the business under the specified bucket. Immutable list objects and a fully tracked change history are invaluable features of this idea of decentralized voting and governance.
7. Personal Data Marketplace
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6. The value impact of the BNB Greenfield storage project on BNB:
I personally think that the BNB Greenfield storage project can indeed have a relatively positive impact on the value of BNB from an objective perspective, but the specific degree of impact still needs to be considered by many factors.
1. BNB Greenfield will further increase the usage and recognition of Binance Smart Chain. More and more projects and users choose to use BSC to increase the overall demand and value of BNB. Through the interoperability of cross-chain switching and the overall ecosystem, BNB Can be used more widely for various applications in the ecosystem. Become a win-win complementary system.
2. BNB GF can provide Binance with sustainable and innovative follow-up value-added services, which can increase Binance’s revenue and number of users, increase Binance’s profitability and market value, and in turn increase the value of BNB.
3. BNBGF has a Token economic model, which can attract more storage nodes and users to participate, increasing the demand for BNB. At the same time, it can also provide users with more flexible payment methods than nodes.
To sum up, from the perspective of the positioning and nature of the BNB Greenfield storage project, its impact on the value of BNB is relatively positive. Because GF can improve the profitability of Binance, the richness of ecological applications, interoperability, and increase the number of users and developers. The liquidity, demand, and utilization rate of BNB can be improved, which may further increase the value of BNB.
From a long-term perspective, the BNB Greenfield storage project can also bring more application scenarios and users to the Binance Smart Chain, thereby further increasing the overall usage and value of BSC. If GF can operate successfully and run well, it may have a positive impact on the overall market value of BNB, but the specific impact needs to be continuously optimized and evaluated according to the actual progress of the project.
However, especially as a trinity system, one prospers and one loses. Sometimes the appearance of external factors can also lead to short-term panic or FOMO. This is one of the reasons why we cannot directly define the real impact of BNB Greenfield on BNB .
However, from the perspective of the project alone, BNB GF is relatively positive for the entire ecological value dependent on BNB.
