BNB Greenfield hits testnet, decentralized storage coming to BNB Chain
The BNB Chain ecosystem is set to integrate decentralized storage solutions after testing of its BNB Greenfield began on April 10.
BNB Greenfield is modeled to emulate conventional Web2 cloud storage solutions, providing fast and cost-effective data services in combination with enhanced ownership and integration for Web3 applications and services.
The announcement of the testnet shared with Cointelegraph outlined initial features that will allow users and developers to begin using decentralized storage.
Data permission can be moved cross-chain to the Binance Smart Chain (BSC), allowing data to be turned into tradabale digital assets that can be integrated with a variety of Decentralized Finance (DeFi), nonfungible tokens (NFTs) and GameFi apps on BSC.
Related: BNB Chain now has more unique addresses than Ethereum, developer says
Users can create wallets and manage data on BNB Greenfield while developers are able to exercise control over data assets. This includes the ability to set access and conditions both manually or programmatically.
A relayer links BSC and Greenfield which allows BSC DApps to integrate with Greenfield using a software development kit. The Binance ecosystem’s BNB token will serve as the gas and governance token for BNB Greenfield. Validators will stake BNB, participate in network governance and earn revenue from storage fees.
Meanwhile users create accounts and transfer BNB in order to manage storage resources and use native cross-chain communication between BSC and Greenfield.
The Greenfield testnet will see storage providers (SPs) work with validators to facilitate the platform’s storage services. SPs are responsible for storing actual data, while validators process metadata and financial ledger
Read more on cointelegraph.com
