Bluzelle is a decentralized database solution for decentralized applications.
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What does the company/project do?
Bluzelle is a decentralized database solution for decentralized applications (dApps). It is different from other file storage projects in that Bluzelle focuses on database while other projects focuses on files.
Files are relatively large, of arbitrary size, and their contents are not searchable or structured in any agnostic way. File storage services are optimized to deliver whole files, and lack the granularity required to do search and retrieval within files efficiently.
On the other hand, data fields are typically small, of fixed size, and organized in groups and collections and structures to be searchable, for quick storage and retrieval. Data fields are stored in databases to achieve the best security, performance, and scalability metrics. Databases provide fundamental functions like create, read, update, and delete (CRUD), which are absent from file storage services.
Bluzelle has indicated in their whitepaper that their intended target for marketing to start will be the early adopters and dApp developers that can take advantage of and see value in the Bluzelle network.
What are the tokens used for and how can token holders make money?
There are going to be two tokens that power the Bluzelle platform, BLZ and BNT. BLZ is an ERC-20 token that is going to be sold during the public sale. BNT will be used in the Bluzelle internal crypto economy that runs on its own consensus ledger as a faster, no-fee counterpart.
The creation of the two-token system is due to the speed limitations and cost of transactions on Ethereum for real-time database accounting. These two tokens will be interchangeable through smart contract, where they are transferred at a 1:1 ratio to and from the respective holders’ Bluzelle network wallet and their registered Ethereum wallet (with a 0.1% conversion fee payable in BLZ).
Token users will be developers that are storing, or retrieving various data, and thus will pay in BNT to accomplish that. Producers will be those that are paid for allowing developers to use their storage resources.
Producers will have to stake a certain amount of BNT in order to offer their services, and, in the event that a producer does not meet the Bluzelle standard, they will be penalized a certain amount of BNT which will then be awarded to the consumer.
As BNT tokens are used as the currency on the Bluzelle platform and BLZ tokens are interchangeable with BNT tokens, the more users and volume the Bluzelle platform has, the more valuable BLZ tokens should be.
- Most dApps will utilize database to a certain extent. Bluzelle’s main competitor is BigchainDB but BigchainDB is more focused on enterprises while Bluzelle is focusing on dApps. We believe Bluzelle will be providing services to many dApps going forward, giving the project constant stream of news flow which is important in the crypto market.
- Decentralized database management is a big market and has many use cases. If Bluzelle is successful in capturing a meaningful market share, the potential is substantial.
- It is very difficult for a startup to be selected to work with blue chip financial institutions such as HSBC and AIA. This demonstrates the team’s capabilities.
- The team has strong background and has been in the blockchain space since 2014.
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