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Thursday, December 7, 2023

BNB Chain’s Greenfield Mainnet Debuts for Decentralized Data Storage

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BNB Chain – the community-driven blockchain ecosystem – announced the public launch of the Greenfield Mainnet.

According to the official blog post, Greenfield is a decentralized storage-centric network designed to cater to data-intensive decentralized applications within the BNB ecosystem. This network aims to offer customizable storage solutions that seamlessly integrate with smart contracts on the BNB Smart Chain.

BNB Doubles Down on Decentralized Data Storage

During several rounds of stress testing, the uplink bandwidth of Greenfield hit 30M/sec while the downlink bandwidth reached 300M/sec, with each SP able to upload 30 files/sec.

Greenfield is also tasked with offering integrated access control that will allow users to upload data and set specific access permissions before service providers store it off-chain with extensive redundancy and backups.

Additionally, the blockchain’s cross-chain capabilities enable BNB Chain users to develop their complementary data-related products and services. Users can further capitalize on their data by establishing data marketplaces through Greenfield, where they have the freedom to create, list, trade, and sell their data.

In the testing phase, the network successfully handled over 200,000 on-chain transactions and connected with 150,000 distinct wallet addresses.

Beyond its primary function of storing substantial data volumes, Greenfield offers a diverse range of applications for users, developers, data managers, business proprietors, and creators, which encompass decentralized hosting, a knowledge economy platform, IP infrastructure for AIGC content, data management solutions, etc.

Arnaud Bauer, Senior Solution Architect at BNB Chain, highlighted that BNB Greenfield is a “transformative development” in Web3 data ownership and data economy while pointing out its ability to provide users with a decentralized alternative to conventional Cloud services. Bauer added,

“Distinct from centralized offerings, BNB Greenfield empowers users with control over their data, mitigating the risk of breaches and data loss. During the Greenfield Testnet phase and recent BNB Chain Hackathon, it has been encouraging to see so many innovative dApps showcase the potential of decentralized file storage with a user-centric focus.”

Flash Loan Attack

The latest development comes a week after a flash loan attack on the BNB Chain resulted in the largest single arbitrage profit in its history. As reported by CryptoPotato, the perpetrator used a bot to borrow a large amount of USDT from a lending platform and subsequently manipulated the price of BH on PancakeSwap, a popular decentralized exchange on the BNB Chain.

The bot executed a swap of USDT for BH at a lower price and then strategically withdrew liquidity from the BH/USDT pair at a higher rate, resulting in a substantial profit. The attack only cost a mere $4.16 in fees, with all profits channeled to the crypto mixing service Tornado Cash.

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