Binance Announces New Decentralized Storage System Based on the BNB Chain – Crypto News – Crypto News
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Binance Announces New Decentralized Storage System Based on the BNB Chain Binance Announces New Decentralized Storage System Based on the BNB Chain

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Binance Announces New Decentralized Storage System Based on the BNB Chain – Crypto News

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3 years ago

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The world’s leading crypto exchange by volume is announcing a new decentralized storage system based on its native blockchain.

In a recent announcement, Binance reveals a Whitepaper for BNB Greenfield, a three-piece Web3-enabled data storage protocol built on top of the BNB Chain.

“BNB Greenfield consists of a trinity that works together to provide a decentralized data storage system with users at the center:

(1) BNB Greenfield Blockchain + Storage Providers.

(2) New BNB Greenfield dApps.

(3) Existing BNB Chain dApps.”

Binance says it’s working with Amazon Web Services (AWS) in building the system, as well as blockchain infrastructure firms NodeReal and Blockdaemon.

According to Binance, the new system aims to allow for personal cloud storage, website hosting, a social media function, as well as storing transaction data from the BNB chain.

The project’s GitHub page gives further insights into the new system’s uses, adding that it has three functions that are different from existing decentralized and centralized storage systems.

“It enables Ethereum-compatible addresses to create and manage both data and token assets. It natively links data permissions and management logic onto BSC as exchangeable assets and smart contract programs with all other assets, [and] It provides developers with similar API primitives and performance as popular existing Web2 cloud storage.

It is expected that Greenfield will set up a playground and test field for new data economy and dApp models, which eventually becomes part of the foundation for Web3.”

Although no specific launch date was mentioned, Binance says it plans to launch BNB Greenfield’s testnet sometime “in the coming months.”

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