Bluzelle is a decentralized storage service that provides on-demand and scalable access to databases for decentralized applications (DApps). It enables users to allocate their excess storage space and computing power to DApp developers by using the native BNZ token. The primary goal of the project is to provide infrastructure and resources to developers to enable seamless data storage and management.
In the Bluzelle ecosystem, users that provide their storage space and computing power are referred to as “producers”, while the developers that utilize the database are referred to as “consumers”. The project aims to provide on-demand storage services for consumers in exchange platforms, prediction markets, and data streaming services, enabling real-time data processing and access to the blockchain.
Bluzelle has grown to become one of the industry’s largest blockchain-based databases, and as demand for DApps grows, so does the number of database users, offering more potential for Bluzelle to expand exponentially in the coming years.
Who are the Founders of Bluzelle (BLZ)?
Bluzelle was founded in 2014 as a blockchain project and software development company by Pavel Bains and Neeraj Murarka. Pavel is an entrepreneur, designer, and tech investor. He co-founded StoryPanda, a digital book platform that obtained licensing deals from Dreamworks, Warner Bros, CBC, MGA, Peanuts, and many others. He also worked at Threewave Software and Disney Interactive Studios. At Disney, he held the position of Financial Manager for seven studios, supervising budgets exceeding $150 million.
Neeraj Murarka, on the other hand, is a computer engineer and systems architect with over 20 years of experience. He has collaborated with large companies such as Google, Hewlett Packard, Lufthansa, and Thales Avionics. The Bluzelle team is situated in two different locations: Singapore and Vancouver and has won various honors and accolades.
What is Bluzelle (BLZ) used for?
Database Solution
Bluzelle offers a decentralized and distributed database for DApp developers to store data. Users can allocate excess space on their machines to provide storage for developers.
Oracle Solution
In addition to storage, Bluzelle provides high-speed and high-security oracle solutions to DeFi applications which includes real-time feeds and information from the outside world.
Staking
BLZ Holders can stake their tokens to earn passive income and rewards for providing their storage space.
What Is the Unique Point of Bluzelle (BLZ)?
Bluzelle makes use of the two-token model in its ecosystem which includes BNZ, an Ethereum-based token, and BNT, the currency native to its blockchain. To provide computing power and storage, producers are required to stake a specific amount of BLZ tokens proportional to the rate of service to ensure a seamless and reliable performance. The team uses BNT to facilitate quicker and lower-cost transactions than Ethereum and provides a token gateway for swapping between the two currencies.
Bluzelle also tracks producer performance using a scaling mechanism known as the “Karma Index,” which is frequently tied to the provider’s Ethereum address. In the case that the provider offers insufficient service, they receive a decrease in the Karma index or lose their stake.
The ultimate goal of the platform is to have a network of tens of thousands of nodes working together to provide the most available and secure database in the world. Their goal is to make devices ranging from mobile phones to desktop computers node participants in the network.
How Many Bluzelle (BLZ) Coins Are There in Circulation?
Bluzelle has a circulating supply of 326,340,557 BLZ tokens and a market cap of $62,756,598.
How Is the Bluzelle Network Secured?
Data uploaded by developers or consumers is stored in clusters, which are distributed in multiple geographical locations. This reduces the likelihood of a single point of failure, data tampering, and natural disasters.
Distributed nodes can also help to reduce third-party involvement, which can contribute to reduced performance, delays, and increased fees.
How do I buy Bluzelle (BLZ)?
BLZ is a token with real utility, which has made it popular among top-tier exchanges. Some of these exchanges include Binance, Huobi Global, CoinTiger, BIONE, and more. To purchase BLZ tokens, simply follow these steps:
- Create an account with a trading platform or log in, if already registered.
- Deposit Fiat into the trading account and
- Purchase your BLZ tokens.
Which Cryptocurrency Wallet Supports Bluzelle (BLZ)?
The PTPWallet platform supports many cryptocurrencies simultaneously, such as Bluzelle (BLZ). Because of its vast use case, it has grown to become one of the most used platforms, as it serves as an exchange and an engine to discover other cryptocurrencies. Users can easily use PTPWallet as their BLZ wallet because it offers a simple and interactive interface, making it easy for people to navigate its system.
