What is Bluzelle Coin (BLZ)- A Decentralised Database for dApps

Update - 2018.02.07

What is Bluzelle?

bluzelle ico

Bluzelle is a decentralised database service for dApps (Decentralized Applications). It is for dApp developers who are dissatisfied with the costs, limited scalability, and complexity of existing database systems. While several companies, including Filecoin and Storj, are already working on decentralized file storage, Bluzelle is targeting the databases that keep data quickly and easily accessible for websites and applications to pull from.

Bluzelle’s approach is to provide something like key/value database.
Data is sharded and sits on multiple nodes all over internet. The node closest to user or with best connection serves the data from appropriate shard.

Major Advantages of BLZ:

Reliable ‘swarm’ technology
Bluzelle stores tiny pieces of data on groups of nodes (swarms) across the globe, eliminating any single point of failure.

Boundless scaling ability
Bluzelle’s algorithm stores data in a unique network model that doesn’t depend on data centres, and is able to scale database services in an instant.

High speed on the fly
Bluzelle dynamically adjusts the number and location of nodes sharding your data to reduce request time and overall performance.

Guaranteed Privacy
Bluzelle employs cryptography and sharding techniques to provide a privacy guarantee.

High Reliability
Bluzelle redundantly stores %ny pieces of data on nodes across the globe, eliminating any singlepoint of failure.

Enterprise Scalability
Bluzelle stores data in a unique, distributed and intelligent manner that is able to provideenterprise-level scalability.

Data Immutability
Bluzelle leverages blockchain technology so that once data is stored to such a network, it isimpossible to change that data.

High Performance Speeds
Bluzelle dynamically adjusts the number and location of nodes sharding the consumer’s data to meet performance metrics.

No Hackers
Bluzelle’s use of consensus is the only method by which updates to the network can be accepted as the “truth” – making the data hack-proof

Low Cost
Bluzelle operates no data centers as all computer resources are provided by network producers who earn funds and pass the savings to consumers.

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Team

Pavel Bains – CEO

Neeraj Murarka – CTO

Nitin Cunha – Senior Developer

Scott Burch – Senior Developer

Mehdi Abdeh Kolahchi – Senior Developer

Richard Nistuk – Senior Developer

Yingyao Xie – Product Associate

 

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How to buy Bluzelle – BLZ?

You can’t buy it directly for fiat. There has to be a middle step in form of buying BTC, ETH or LTC on some of the exchanges that support fiat/crypto pairing. You can check detailed guide on how to buy coins for fiat on some of the more popular exchanges:

Coinbase, Coinmama, Cex.io, LocalBitcoins.

 

After that, you transfer the bought BTC/ETH/LTC to exchanges where this token is traded. As of right now, this token is traded on:

Binance, IDEX.

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Token Info

Bluzelle team didn’t just create one token, it created two.

The first token is BLZ. It is the ethereum-based ERC-20 token that was sold during the ICO. BLZ will eventually be used to purchase the second, BTN, which was created only for use on the Bluzelle platform.  Ethereum has serious scalability issues, has a long and non-deterministic confirmation time, and gas costs make a single blockchain-based payment approach infeasible. The BNT token enables high speed microtransactions to occur, and is actually an approach many services use to alleviate the Ethereum issues.

  • Symbol: BLZ
  • Token sale opening date: 18. Jan 2018 
  • Token sale closing date: 2. Feb 2018 
  • Concept: Bluzelle is a decentralised database service for dApps (Decentralized Applications). It is for dApp developers who are dissatisfied with the costs, limited scalability, and complexity of existing database systems.

Token Use

1. Buy BLZ tokens on a crypto-exchange using ETH, BTC or other forms the exchange allows.

2. Send BLZ tokens to the Bluzelle Token Gateway’s smart contract via Ethereum. The gateway will issue new BNT tokens to the user’s Bluzelle network wallet.

3. The user now has BNT tokens, and is free to parDcipate in the network as a consumer.

Here is a video explanation of Bluzelle:

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Roadmap

  • July 2014: Pavel Bains and Neeraj Murarka form Bluzelle in Vancouver, Canada
  • April 2015: Launches Canadian Ripple Gateway directly connected to Canadian Banking debit network
  • February 2016: Sets up in Singapore
  • March 2016: Raises seed financing round from True Global Ventures
  • May 2016: Builds Ripple-based cross border payments POC for global banking platform Temenos
  • September 2016: Builds Ethereum-based consumer mobile insurance application for global insurer AIA
  • December 2016: Named to the Global Fintech 100 by H2 Ventures
  • April 2017: Builds Ethereum-based KYC Ledger for international banks consortium consisting of OCBC, HSBC and MUFG
  • June 2017: Named Technology Pioneer 2017 by World Economic Forum
  • July 2017: Builds Ethereum-based insurance platform for a large Asian insurer
  • August 2017: Raises $1.5 M USD round from international VCs Global Brains (Japan), True Global Ventures (Europe) and LUN Partners (China)
  • MINIMUM VIABLE PRODUCT APRIL 2018: NoSQL key-value pairs, Bluzelle Harvesting Agent, leaf swarms, consensus, horizontal partitioning, consistent hashing, CRUD API, Bluzelle tokenization, ERC-20 token gateway, versioning and backup/restore, dynasty keys
  • KEPLER AUGUST 2018: PaaS integrations, IDE plugins and integrations, blockchain smart contracts, desktop and browser and mobile apps for interactive access, import/export from legacy databases, node scoring and health metrics
  • EINSTEIN DECEMBER 2018: NoSQL documents, NoSQL document collections, NoSQL document collec%on indices, NoSQL document collection partitions, global CRUD operations, batch CRUD operations
  • LEIBNIZ APRIL 2019: Proof of storage Merkel challenges and rewards, proof of stake requirement for farmers, variable CRUD request pricing, edge caching of data close to requests, request parallelism and hotspot support, Spartacus attack tolerance
  • ARCHIMEDES AUGUST 2019: Vertical partitioning, 2D partitioning, variable-cost data expiries, Sybil attack tolerance, dele%on reversibility, proof of redundancy via erasure coding
  • TURING DECEMBER 2019: Column stores, S/Kademlia improvements, Honest Geppetto attack tolerance, 3rd party arbitration against Chea%ng Owner attacks, reverse http tunnelling, tunnel eclipse a[ack tolerance, multiparty encryption, complex binary blob storage support
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Our Opinion

Bluzelle is still relatively early in its development roadmap. Further, it has yet to establish the necessary partnerships that will ensure a successful launch.

Only 33% sold for crowdsale. That should be worrying as 67% of tokens go to Bluezelle and cronies. Pretty astonishing distribution.

There was also too much hype by some crypto celebrities who are known to do the hyping if paid by crypto teams.

This is nice idea and there is big room for growth but there are some some competitors already in the market, like MaidSafe. However, it looks like MaidSafe is more of a file-based service (based on their youtube promos). They decentralize the storage and access to files.

According to Bluzelle’s FAQ on the topic of decentralize file storage:

They operate purely on the manipulation of files, which has a very different application. File decentralization can be used for access to website resources (images, stylesheets, html, etc) or to enable globalized scalable access to documents. Bluzelle’s data decentralization services would be consumed by software at a more intimate level, that is opaque to the end-user, replacing existing database systems.

 

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Resources

Website
 Blog
 Whitepaper
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 Twitter
 Linkedin
 Slack chat (not available) 
 Telegram chat
 Github 

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CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com

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