![image.png](https://i.imgur.com/e3KtBaS.png)
<sup>[src](https://www.binance.com/en/blog)</sup>

Storage will undoubtedly become a crucial part of the cryptocurrency ecosystem as more blockchain tech emerges, this is because the distributed ledger technology's design revolves around a wide spread of data, placing relevance on how data is stored, managed and processed. In literal terms, it is simply about capturing and restructuring the data spectrum with an idea of distributing it across numerous computers for increased data security, immutability , authentication and system efficiency. 

The incentivization of this idea brings about the ability to commit and keep to playing it right. The true success story of cryptocurrency begins with how incentives were built into the system from the onset, this enabled it to literally be self-sustaining as value was captured in all operations within. 

This rise of crypto and blockchain technology makes storage increasingly more relevant in the growing business space than it has ever been, in the not so distant past, we talked about the idea of [a decentralized storage marketplace](https://peakd.com/hive-167922/@badbitch/Decentralizedstoragemarkets-incentivizingfreestorage) incentivized by crypto assets and designed to power the Web3 economy as a possibility along the line of blockchain layered innovations, it seems that we weren't thinking far off the crucial pieces that should come together as Binance emerges with the launch of its decentralized storage whitepaper labelled "Greenfield".

It was brought to my notice that we have a similar project being developed here on Hive blockchain, the Speak Network, but due to my limited knowledge on the project's structures, I can't say much about its approach to decentralizing the storage markets at a broader spectrum, I have initially view it from the angle of giving people the leverage to host content on an incentivized, immutable storage network - that is from the social standpoint. 

Nonetheless, BNB's Greenfield is neither what we discussed as a decentralized storage marketplace, here's what it really is:

>According to the project’s whitepaper, BNB Greenfield will allow BNB holders access to decentralized storage services using smart contracts.

>Greenfield decentralized application developers can create tools to allow users to interact with the storage system or smart contracts on the Greenfield blockchain, the decentralized storage network, and Binance Smart Chain using their blockchain addresses. While user metadata is kept on-chain, bulk data is stored off-chain on a decentralized, redundant network dubbed Greenfield Core Infra. Greenfield’s consensus mechanism involves changes in the state of users’ metadata and their BNB balances.

>Greenfield accepts Binance’s BNB token for gas fees and governance, re-minting locked BNB from Binance Smart Chain through a cross-chain bridge. Non-fungible tokens will govern data access privileges. In addition, the network will support other data storage and website hosting services.

The word "decentralized" is present in this context given that it's governed by BNB holders, not that the storage is offered by a distributed network of individuals. 

That said, it's still a good addition to the cryptocurrency ecosystem, having blockchain-based projects develop more and add to the use cases of crypto assets can only be a win for the crypto ecosystem, the [report](https://beincrypto.com/binance-announce-decentralized-storage-system/) says that the Web 3 infrastructure project BNB Greenfield is being developed by coders from Amazon Web Services, NodeReal, and Blockdaemon. 

Which is fascinating and also an indication that interest from tech spaces are spurring into the crypto ecosystem. 

*Thank you and please leave a comment, your thoughts matter to me* 


Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@badbitch/bnb-gets-a-new-use-case-with-greenfield-launch-a-decentralized-storage-powered-by-bnb)