BNB chain introduces new web3 storage product ‘BNB Greenfield’ BNB chain introduces new web3 storage product ‘BNB Greenfield’
The storage system will use BNB as its native token and will become the third blockchain in the BNB ecosystem that already comprises of BNB Beacon Chain and BNB Smart Chain.
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Updated: Feb. 1, 2023 at 5:26 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Binance-backed BNB chain is set to launch a new blockchain-based Web3 infrastructure product BNB Greenfield, according to a press statement shared with CryptoSlate.
BNB Greenfield is a decentralized storage system with smart contract integrations for Web3 applications. The new platform would allow users to have complete control over their data.
The storage system’s testnet is currently being developed and built by BNB Chain alongside community developer teams from Amazon Web Services (AWS), NodeReal, and Blockdaemon.
According to the press statement, the storage system will use BNB as its native token and become the third blockchain in the BNB ecosystem, which already comprises BNB Beacon Chain and BNB Smart Chain.
“Storage providers will charge fees in USD, providing users with a stable, long-term understanding of the cost of using BNB Greenfield, even though payments will be made in BNB.”
The developers added that the platform would allow users to store their data, deploy their websites, programmatically manipulate data, and store historical data for the BNB ecosystem.
BNB Greenfield uses NFTs and smart contracts to manage data ownership
Meanwhile, the system will use non-fungible tokens (NFTs) and smart contracts to control ownership and give permission to read the available data on its system. It added that the BNB Greenfield blockchain would store the metadata while third-party providers store the actual data.
According to the press statement, the storage system has been designed to cater to Web 2 developers and large user bases.
BNB Chain’s senior solution architect Victor Genin said:
“BNB Chain is leading the way in creating a new theme for the ownership and utility of data with BNB Greenfield. BNB Greenfield will build utility and financialization opportunities for data that is in storage as well as bring programmability to the ownership of data.”
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Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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BNB, or Binance Coin, is a cryptocurrency created by Binance.
Binance
Binance is a global cryptocurrency exchange that provides a platform for trading more than 100 cryptocurrencies.