Blockchain
New Utility for BNB Coin
It’s the beginning of a new era for the BNB Chain ecosystem, as the BNB Greenfield testnet, called “Congo,” has gone live. The decentralized smart storage network gives users control over their data and aims to provide the Web3 equivalent to Web2 cloud storage.
🚀1/ 🎉 Exciting news! BNB Greenfield Testnet is LIVE! 🧵https://t.co/O5BkyIKbHY
— BNB Chain (@BNBCHAIN) April 11, 2023
A BNB Chain Blog post confirms that the new Greenfield network will be powered by the BNB coin, giving it new utility.
“The BNB token’s use will extend to large-scale data storage and trading, which will enhance its value over time,” according to the post.
As BSC News reported previously, BNB Chain is effectively inventing a new blockchain that will allow users and Decentralized Applications (dApps) the ability to store, access, and manage their data with personal keys and private accessibility.
The blog post states, “A native relayer links BSC and Greenfield, enabling BSC Dapps to integrate with Greenfield using a simple SDK and minimal development. Upon Greenfield mainnet launch, thousands of Dapp data sets will be available, fostering rapid ecosystem growth and easing data-related innovation compared to other chains.”
According to BNB Chain, the defining characteristics of Greenfield are:
- Data ownership
- EVM compatibility by integration with BSC
- High performance rich API/SDK.
BNB Chain has put out a call for testnet developers and announced that grants will soon be open for Greenfield grants.
Greenfield’s mainnet launch is scheduled for the third quarter of 2023.
What is BNB Chain:
Previously known as the Binance Smart Chain (BSC), BNB Chain is a community-driven, decentralized, and censorship-resistant blockchain that is powered by Binance. It consists of BNB Beacon Chain and BNB Smart Chain, EVM compatible and facilitating a multi-chain ecosystem. Through the concept of MetaFI, BNB Chain aims to build the infrastructure to power the world’s parallel virtual ecosystem.
