Bluzelle — The dPoS decentralized database:
In the world today, there exist billions of devices exhanging data with one another and the high increase in blockchains has induced the development of numerous decentralized applications, which are all faced with the problems of data storage, leaving them with options of either storing their data with blockchains which is slow and expensive or succumbing to centralised storage irrespective of its insecurity and single point of failure— The problem.
Bluzelle — The solution:
Bluzelle is a fully decentralized database that provides developers with a place to store their data which is secure, tamper-proof and globally scalable, offering developers complete decentralization at a reasonably low cost compared to centralized solutions. Bluzelle stores data accross thousands of nodes around the world, with each node providing storage space and earning fee. Bluzelle is powered by Tendermint and built with Cosmos, forming a cluster of blockchains which are specially designed for database applications.
Advantages of Bluzelle:
- Low cost: Developers can store their data accross multiple nodes at no extra cost.
- High availability: Data which are stored on Bluzelle are always available irrespective of any damage that may occur to one or two nodes.
- Optimum security: Bluzelle makes use of a consensus algorithm on the nodes which only allow data changes by the owner. Outsiders gets no access to the data thereby, preventing any form of network hacking.
Bluzelle network design:
Bluzelle is designed as a network which grows through incentivization and crowd-sourcing. This is achieved by allowing individuals and business who own spare disc capacity to rent out their space and earn extra income in return. This can be compared to AirBnB but in this case, the physical space is replaced by digital. Bluzelle is a combination of many components working together;
- Bluzelle Net: powered by Tendermint, a blockchain that ensure that all changes made to a database are correct.
- Validators nodes: They are responsible for the provision of storage space and execute changes in return for a fee.
- BLZ Token: This is an ERC-20 token which is used for staking on the network and as a method of payment.
- Staking Dashboard: This is a mobile and web application where token holders stake their tokens and view the rewards they earn.
- Bluzelle DB: A NoSQL- Key value which store data as a key or attribute name with its value.
BLZ Token movement :
- Delegators stake BLZ tokens with Validators.
- Validators are connected with BluzelleNet and stake.
- Users pay for services with BLZ, Fiat, and other tokens.
- Bluzelle wallet swaps Fiat and tokens for BLZ.
- All rewards and fees goes to Validators and Delegators.
- Rewards are unbounded by Delegators.
Pricing and incentivization:
Developers make payment for storage space and for reads and writes to the database. There is a group of transactions attached to each block as it goes through the network with respective cost in token. These tokens are being shared among the nodes in the zones and Bluzelle. The Bluzelle tokens are distributed to nodes based on the proportionate amount of token staked.
Bluzelle technology stores data on multiple nodes in efficiency, making replication already built in and require no extra charge.
Example Use cases of Bluzelle:
- Finances: Bluzelle enhances the importance of finance applications from defi to cefi, giving a single view of the customer, risk analytics, managing reference data and lots more.
- Retail: Bluzelle’s NoSQL database is used for order tracking, inventory management, delivery and logistics for both online and offline stores.
- Games: Players require fast access to their info for easy advancement through the game. Bluzelle manages user profiles, inventory, messaging and more.
In summary, Bluzelle aims to be the go-to data layer for web 3.0 by providing a tamper-proof decentralized data network which has higher privacy, scalability and availability than traditional solutions. Bluzelle is powered by Cosmos and handles 10,000 TPS, it is a delegated proof of stake network, any laptop, desktop, mobile device and gaming console can become a node on Bluzelle. Bluzelle’s DeFi solutions are developed to modify DeFi with historic price feeds, providing data analytics, 360° views and more. As Decentralized Finance keeps growing, the essence of decentralized infrastructure cannot be overemphasized.
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Written by: Berry Brains
