The advancement of the blockchain technology has led to a radical change in the way data is exchanged through decentralised apps. One after the other, the audience has witnessed the arrival of decentralised apps each claiming to offer something better than the previous one. Newer platforms and technologies have been developed to offer to the consumers a more scalable, faster, and reliable service.
In this speed of development, Bluzelle has come forward with a claim of offering solution to the one problem being faced by the presently operating blockchain platforms—lack of space.
What is Bluzelle?
Where new blockchain protocols for launching decentralized apps are just beginning to emerge, Bluzelle has presented itself as the Oracle of the ecosystems being built on the blockchain. The platform is aimed at providing software developers with a more scalable, faster, reasonable, and decentralised way of handling huge amounts of data.
Bluzelle is basically a decentralised service similar to Stroj and Filecoin with the aim to fill the need for the lack of space in the blockchain ecosystem. Simply put, Bluzelle invites people, called farmers or producers, to share their idle computer space and rewards them with the BLZ tokens in return.
The target that Bluzelle aims to achieve is the decentralisation of the centralised market still being used for data storage.
How does Bluzelle work?
The Bluzelle network takes the NoSQL concepts and puts them together with the blockchain ecosystem. The network exploits the horizontal sharding of data and turns it into split databases which are smaller, faster, and more easily accessible.
To put it in simpler words, Bluzelle will create a distributed network of nodes, which it calls the swarms of nodes, dedicated to act together to store data dynamically and with partial replication in order to ensure optimal performance.
In a Bluzelle network, the producers offer resources from their memory, permanent storage, CPU processing power etc. to store different database shards. The consumers use these database services and in turn, pay through the BLZ and BNT tokens. The consumers get to govern the manner and the location of data storage which in turn affects the price they have to pay.
Tokenization of Bluzelle
The Bluzelle network is powered by two tokens:
- Bluzelle Network Token (BNT): which is the native token of the network. It is internal to the network and allows the working of the Bluzelle crypto-economy. The producers earn in BNT what the consumers pay in BNT.
- Ethereum ERC-20 external token (BLZ): which is the externally tradable token designed to connect the native token of the network with Ethereum’s own native token.
Why the connection with Ethereum?
In order to associate new clients or nodes with the Bluzelle network, the Ethereum blockchain is employed to search for the initial data peers. This connection allows the producers and the consumers to trade in both the native token and the externally-tradable token.
The reason behind trading in two tokens is that the Ethereum platform and the ERC-20 token are both expensive and slow when it comes to real-time database accounting. The function of the two tokens then is for the native token to enable faster and cheaper real-time accounting while the external token allows the users to obtain access to the services.
Features of Bluzelle
The aim of Bluzelle is to influence the developers of the decentralised apps. Therefore, the network must offer optimal reliability, performance, and scalability for which it employs the use of swarming databases.
- Reliability: The network employs the concept of swarm computing where each data unit is replicated in a single swarm and exists within a swarm of swarms. Therefore, while the data is stored in a single swarm, the nodes of that swarm are multiple and geographically dynamic (because of different producers) which makes the network protected against hacking.
- Performance: Bluzelle claims that its swarming techniques can potentially offer the optimal levels of performance. According to the team, this can be achieved as the data requests are done in parallel where particular shards are requested from all the different swarms containing those shards which are retrieved in parallel resulting in a faster performance.
- Scalability: The network aims at offering both horizontal and vertical scaling where the former appears to be the cornerstone of the whole platform since every swarm is another unit of horizontal scaling at a bigger level.
In addition to these features, Bluzelle employs cryptography and sharding methods to offer maximum privacy. It also advertises data immutability by leveraging a technology where the data once stored cannot be altered.
Overall, the Bluzelle network exhibits the potential to play an important role in the landscape of blockchain infrastructure. The decentralised database service is capable of fulfilling a substantial need for the advancement of blockchain technologies. The size of the market for a platform such as Bluzelle is large and constantly growing. The previously successful initiatives of the company also act as a testimony to the reliability of the team and the technology.
However, there are certain risks that interested investors must consider. The company’s dual token system may create hindrances when on-boarding customers from large enterprises. The network does not provide IP barriers. And, it faces direct competition from Wolk.
Yet, with a strong team experienced in the blockchain ecosystem, a clear vision, and solid technology, the project seems to have the potential to become the Oracle of the blockchain ecosystem.