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What is the BNB Greenfield network and how does it work?

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What is the BNB Greenfield network and how does it work?

What is the BNB Greenfield network and how does it work?

Binance Blockchain Greenfield BNB network launched for decentralized data storage. In this post of Pooyan Music Website, we will introduce BNB Greenfield network and its use.

What is BNB Greenfield Network?

BNB Greenfield is a blockchain focused on storage. This network is connected to a decentralized network of storage providers (SP).

Blockchain – a community-based blockchain ecosystem – announced the public launch of its Greenfield mainnet.

According to Binance’s official blog post, Greenfield is a decentralized storage network designed to cater to data-intensive decentralized applications in the BNB ecosystem. The goal of this network is to provide customizable storage methods that seamlessly integrate with smart contracts on the BNB smart chain.

BNB doubles the decentralized storage of information

During several rounds of stress testing, Greenfield’s uplink bandwidth reached 30 M/sec. While the downlink bandwidth also reached 300M/sec. Each SP was capable of uploading 30 files per second.

Greenfield is also tasked with providing integrated access control. This feature allows users to upload their data and set specific access permissions before service providers store it off-chain with extensive redundancy and backup.

In addition, the blockchain’s cross-chain capabilities enable BNB chain users to develop their own complementary data-related products and services. Users can further capitalize on their data by creating greenfield data marketplaces, where they have the freedom to create, index, trade, and sell their data.

During the testing phase, the network successfully completed more than 200,000 chain transactions and connected with 15,000 unique wallet addresses.

Other features of Greenfield BnB

Beyond its primary function of storing significant amounts of information, Greenfield offers a diverse range of applications for users, developers, administrators, business owners, and creators. Applications include decentralized hosting, a knowledge economy platform, IP infrastructure for AIGC content, information management solutions, and more.

Arnad Bauer, Chief Methodology Architect at BNB Blockchain, emphasized that BNB Greenfield is a “revolutionary technology” in data ownership on Web3 and the information economy. At the same time, he points to its ability to provide users with a decentralized alternative to conventional cloud services. Bauer added:

Apart from centralized capabilities, BnB Greenfield allows users to have control over their data and reduce the risk of data breach and loss. During the greenfield testnet phase and the recent BNB blockchain hackathon, it was encouraging to see many creative dApps demonstrating the potential of user-centric decentralized file storage.

Flash Lone attack on Bayense

This latest development comes a week after the Flash Loan attack on the BNB chain led to the largest arbitrage profit in its history. As reported by Cryptopotato, the criminal used a bot to borrow a large amount of USDT from a lending platform. This event has subsequently manipulated the price of BH on PancakeSwap, a popular decentralized exchange on the BNB chain.

The bot traded USDT for BH at a lower price and then strategically liquidated the BH/USDT pair at a higher rate. An event that brought significant profit. The cost of this attack was only $4.16, with all profits transferred to the TornadoCash crypto-mixing service.