Bluzelle (BLZ): The Data Storage Of The Future
We are slowly evolving from a centralized information sharing economy to a decentralization era where all types of digital assets can be shared stored and managed.
This is what Bluzelle (BLZ) is looking to build upon (an autonomous decentralized and transparent sharing economy). Basically, it is building a new way of developing and managing decentralized applications.
By combining the sharing culture with the token economy Bluzelle is trying to enable regular computer owners to earn passive income by renting out their idle CPU’s while providing database management to a growing market of dApp (decentralized application) developers.
Where did Bluzelle (BLZ) come from?
Founded in 2014 by in Vancouver by Pavel Bains and Neeraj Myrarka, Bluzelle coin managed to raise a whopping $1.5Million in its series a funding with plans to develop a decentralized data storage infrastructure.
The company received a lot of support from VC funds including Global Brain, LUN Partners Capital, and True Global Ventures, Currently, however, BLZ has moved to Singapore which is quite popular for most upcoming Blockchain-based startups.
How does Bluezelle work?
Considering the magnitude of Bluzelle’s approach, it goes without saying that the company’s focus goes beyond cryptocurrency and onto the practical use cases of Blockchain technology. However, the BLZ token works in a unique manner on the Bluzelle network.
It is set to essentially be a utility token used to store and retrieve data on the network. In a process called “swarming” the network will maintain databases efficiently even when nodes are connected or disconnected.
Basically, it goes beyond file storage on a database to provide dApp developers a self-managing platform for their applications. In fact, the company boasts of managing token velocity in a bid to ensure that its tokens are widely available and attainable to developers who require the BLZ token to pay for services.
The token is also used to reward individuals who rent out their CPU’s
Bluzelle boasts of a potential to go beyond enabling a decentralized platform for database management.
The company has made significant developments towards expanding its utility by partnering with MatchMove, Temenos, and other payment companies in a move that will see the coin establish efficient international payments.
Furthermore, since the BLZ token is based on Ethereum, Bluzelle is taking advantage of the growing popularity of Blockchain and smart contracts to develop smart insurance whereby customers will be able to make claims and buy policies on a real-time, decentralized and transparent platform.
Bluzelle (BLZ) on Binance
Just two days ago Binance (one of the leading cryptocurrency exchanges in Hongkong with a capacity for high volume trading) has listed Bluzelle as one of the assets that are now eligible for trading on the platform.
This can only be good news for the up and coming BLZ token as it will have more exposure to crypto enthusiasts and be on its way to delivering scalability and performance.
With further advancement of the Bluzelle Blockchain network, this little-known Blockchain startup could be en route to being the decentralized dApp platform of the future.
In fact, if the projection by the cryptocurrency of over 20 billion near future connected devices is anything to go by, Bluzelle and particularly the BLZ token will make its mark in the crypto space as a decentralized database platform to be reckoned with.