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Bluzelle

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Description

What does Bluzelle do?

Bluzelle is a project aiming to disrupt the data management and storage space. Decentralized data management systems claim to provide a cheaper and more secure alternative to centralized databases like MySQL and MongoDB.  

There are two primary participants that contribute to the Bluzelle network: consumers and producers. Consumers are individuals that use Bluzelle to house data. Consumers can be developers or individuals with large amount of data they wish to store on the Bluzelle network. Producers contribute to the Bluzelle network by sharing their computing power and storage space in return for BLZ tokens.

Bluzelle manages data through a swarm of nodes that can house shards of data. They call these nodes “leaf swarms.” Data can be split up and retrieved amongst different shards simultaneously. For added security, swarms hosting private data cannot be accessed without a private key.

How does BLZ/BNT work?

Bluzelle features two tokens. BLZ is an ERC-20 token that is easily tradable with Ether. BNT is Bluzelle’s native token.

As a result of heavy traffic, there can be congestion issues on the Ethereum chain. The team did not want to be dependent to Ethereum’s network, so they reward producers in BNT which can easily be exchange to BLZ through their token gateway and traded with other ERC-20 tokens.

BLZ is used primarily as a reward system for producers. BLZ tokens can be staked. Producers must stake coins to act as nodes, and if they are bad actors, then their stake can be lost. This is part of their Karma Index, which ranks nodes. Different nodes can charge different fees for their services.

How can BLZ/BNT appreciate in value?

The question of BLZ’s potential appreciation comes down to supply and demand. If Bluzelle is the chosen solution for data storage, then both consumers and producers will need to interact with BLZ/BNT. Consumers will need to pay for fees that the network and producers demand. As more producers join the network, more tokens will be required for staking, which can in turn increase the price of the token.

What are the differences between Bluzelle and its competitors?

Bluzelle does not have much competition in terms of being a decentralized database. Many claim that Siacoin is a competitor, but this is not the case. Technically speaking, Siacoin is more of a file service than a database service. Think MongoDB vs Dropbox. So, while there is overlap amongst many services, there are also ways in which they can complement each other.

  • Mainnet Launch: Yes
  • Open Source: Yes
  • Consensus Type: Raft/customized proof of storage consensus
  • Technology: Blockchain
  • Total Coin Supply: 500,000,000 BLZ
Reward
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REWARD
REWARD
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RISK
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Our opinion

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Innovativeness

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Does the project’s message make sense?

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Attention

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Versatility

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Our opinion

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Description

What does Bluzelle do?

Bluzelle is a project aiming to disrupt the data management and storage space. Decentralized data management systems claim to provide a cheaper and more secure alternative to centralized databases like MySQL and MongoDB.  

There are two primary participants that contribute to the Bluzelle network: consumers and producers. Consumers are individuals that use Bluzelle to house data. Consumers can be developers or individuals with large amount of data they wish to store on the Bluzelle network. Producers contribute to the Bluzelle network by sharing their computing power and storage space in return for BLZ tokens.

Bluzelle manages data through a swarm of nodes that can house shards of data. They call these nodes “leaf swarms.” Data can be split up and retrieved amongst different shards simultaneously. For added security, swarms hosting private data cannot be accessed without a private key.

How does BLZ/BNT work?

Bluzelle features two tokens. BLZ is an ERC-20 token that is easily tradable with Ether. BNT is Bluzelle’s native token.

As a result of heavy traffic, there can be congestion issues on the Ethereum chain. The team did not want to be dependent to Ethereum’s network, so they reward producers in BNT which can easily be exchange to BLZ through their token gateway and traded with other ERC-20 tokens.

BLZ is used primarily as a reward system for producers. BLZ tokens can be staked. Producers must stake coins to act as nodes, and if they are bad actors, then their stake can be lost. This is part of their Karma Index, which ranks nodes. Different nodes can charge different fees for their services.

How can BLZ/BNT appreciate in value?

The question of BLZ’s potential appreciation comes down to supply and demand. If Bluzelle is the chosen solution for data storage, then both consumers and producers will need to interact with BLZ/BNT. Consumers will need to pay for fees that the network and producers demand. As more producers join the network, more tokens will be required for staking, which can in turn increase the price of the token.

What are the differences between Bluzelle and its competitors?

Bluzelle does not have much competition in terms of being a decentralized database. Many claim that Siacoin is a competitor, but this is not the case. Technically speaking, Siacoin is more of a file service than a database service. Think MongoDB vs Dropbox. So, while there is overlap amongst many services, there are also ways in which they can complement each other.

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