What is Bluzelle (BLZ)?
Future of BLZ Cryptocurrency and know how to buy BLZ

#1 – What is Bluzelle?

Bluzelle: The Basics

  1. Bluzelle is a decentralized, scalable database service that aims to provide an effective data storage solution for the newly emerging blockchain ecosystem.
  2. It provides a solution to the scaling problems that developers of decentralized applications (dApps) face while using centralized infrastructure and traditional cloud-based databases.
  3. Bluzelle is powered by two tokens:
    1. BLZ is Bluzelle’s external ERC20 token, sold on exchanges and made accessible for customers who can then easily use the services of the Bluzelle platform.
    2. BNT (Bluzelle Network Token) is Bluzelle’s internal native token which enables high-speed, zero cost, real-time data accounting, which ERC20 tokens are too slow and expensive for.
    3. BLZ and BNT can be interchanged on the Bluzelle token gateway.

Bluzelle Development

  1. The Bluzelle team currently has 10 people, and is growing. It consists mainly of engineers with backgrounds in computer science, AI, cognitive science, etc.
  2. CEO and Co-founder Pavel Bains has over 15 years of experience in operational management, digital technology and finance. He also co-founded Storypanda and held GM and CFO roles in video game studios.
  3. CTO and co-founder Neeraj Murarka has an impressive 20+ years’ experience working for Google, HP, Lufthansa and Thales Avionics.
  4. Other members include Director of Product Development Andrew Mastracci who co-founded Pertino Networks in 2011, Senior Developers - Nitin Cunha who has 16 years of experience in programming solutions and business, and Richard Nistuk who worked on one of iPhone’s first ever apps “The New York Times Reader”, and others.
  5. Bluzelle’s advisors include core Ethereum developer Alex Leverington, creator of Ripple Ryan Fugger, Founder of Decima Capital Yubo Ruan and Smith+Crown CEO Brian Lio, among other equally renowned personalities.

 

#2 – What are the advantages of Bluzelle?

Bluzelle Features

  1. Bluzelle uses reliable ”swarm” technology, in which it stores tiny bits of data in groups of nodes or “swarms” which are distributed across the globe. Since this makes it independent of single data centers, Bluzelle’s scaling ability is limitless.
  2. Bluzelle adjusts the number of nodes and their location dynamically, reducing request time and improving overall performance.
  3. Bluzelle's swarm technology makes it extremely reliable as it redundantly stores pieces of data across the globe, eliminating a single point of failure.
  4. Since there are no data centres, Bluzelle’s resources are provided by network “producers”, who earn funds and pass on the savings to users.

Bluzelle Technology

  1. Bluzelle, at its core, connects consumers who wish to rent storage space, to “network providers” who have the resources and additional computing power necessary to offer the storage space.
  2. The Bluzelle architecture consists of a variety of unique and interesting technologies, which make it different from other cryptocurrencies.
  3. The high speed is achieved by “sharding” which stands for “System for Highly Available Replicated Data” through which the database is partitioned along logical lines, with every unit of data in the same logical “shard” having the same partition key.
  4. Bluzelle uses Jump Consistent Hashing (JCH), an elegant algorithm taking up only 5 lines of code in common languages, to map from a key value to the id of the swarm that the key is replicated in. Bluzelle then uses Kademlia Hashing to reach the swarm even if it is not running. Kademlia Hashing helps Bluzelle to enable nodes to know about every other swarm on the entire network.
  5. Not every node in the Bluzelle network has a copy of all the data. Only the nodes within the swarm assigned to the data replicate it, unlike a traditional blockchain where data is 100% replicated on every node. This gives Bluzelle a much higher speed of functioning than other cryptocurrencies.
  6. Bluzelle applies its consensus model also on a swarm level, requiring localized consensus for individual swarms rather than universal consensus, which is unnecessary in this case.
  7. Bluzelle also has unique methods to prevent Sybil attacks and Byzantine faults.

 

#3 – How to buy and store Bluzelle tokens (BLZ)?

How to buy BLZ

Bluzelle tokens (BLZ) are available for exchange on 9 platforms, which is impressive seeing as the cryptocurrency is not even 6 months old. Huobi, Binance, Gate.io, Fcoin, COSS, etc. are some of the exchanges, on which you can buy BLZ for Bitcoin or Ether primarily. Some exchanges among these also accept WETH and DAI while Binance accepts its native token BNB.

There are currently (as of July 2018) no exchanges which accept fiat currencies for the BLZ tokens.

  1. These are just platforms where you can buy or sell BLZ tokens, but the coin prices differ marginally from exchange to exchange. CoinSwitch, one of the largest cryptocurrency exchanges around, will help you in this regard by displaying the prices at the exchanges it’s sold in, all at one place. It supports more than 140 coins and 45,000 pairs of cryptocurrencies. You can choose any pair you want with your BLZ token, and CoinSwitch will help you decide the best one for you!
  2. What’s more - with CoinSwitch, you need not rely on wallets on the exchange you’re buying from. Instead, all transactions can happen to and from your very own private wallets.

BLZ Storage

  1. Being on the Ethereum blockchain, BLZ can be stored in any wallet which supports Ethereum and other ERC20 tokens, which are quite a few in number.
  2. Hardware wallets are the most secure, and Ledger Nano S as well as Trezor work for ERC20 tokens.
  3. Exodus and Mist are desktop wallets for which store Ethereum and tokens on its blockchain. It is compatible with Windows, Linux and Mac operating systems.
  4. Jaxx, another Ethereum wallet, functions as a desktop wallet for Windows, Linux and Mac PCs, a mobile wallet for Android and iOS phones, as well as a web wallet through Chrome and Firefox extensions, making it one of the most versatile wallets around.
  5. MyEtherWallet is its most popular Web wallet, and ETHAdress is one of the paper wallets storing ERC20 tokens.

 

#4 – What is the future of Bluzelle?

Also Read: Complete Analysis of Bluzelle | Live Bluzelle (BLZ) Price Charts And Predictions

Market Cap and Global Acceptance

  1. Bluzelle held an ICO from January to February 2018, selling 33% of its total supply of 500 million BLZ tokens and earning $19.5 million USD in the process.
  2. The Bluzelle tokens are distributed as follows:
    1. 33% of the tokens were reserved for the public, which were all sold in the ICO.
    2. 27% of the total tokens have been reserved for future use.
    3. 15% goes to the founding team.
    4. 15% was given to early backers, advisors, initial investor and strategic partner
    5. The remaining 10% is kept for the developer and community growth fund.
  3. As of July 2018, Bluzelle has a circulating supply of about 183.02 million BLZ, with an individual price of $0.328 and consequently a market cap of around $60.25 million USD.

Price History

Date

Open

High

Low

Close

Volume

Market Cap

Jul 15, 2018

0.257067

0.295327

0.250188

0.291158

61,53,940

4,70,49,200

Jul 01, 2018

0.294833

0.333449

0.292516

0.316672

1,47,76,500

5,39,50,800

Jun 01, 2018

0.410478

0.414946

0.397301

0.414946

40,73,770

7,34,46,200

May 01, 2018

0.672844

0.672844

0.623136

0.654126

81,87,880

11,10,19,000

Apr 01, 2018

0.305784

0.313208

0.273255

0.287571

39,40,260

5,04,54,300

Mar 01, 2018

0.508932

0.583734

0.506192

0.553148

80,72,950

8,39,73,700

Feb 06, 2018

0.421592

0.724222

0.421592

0.677802

4,12,14,300

-

Trends so far

  1. Since Bluzelle is a very new cryptocurrency which has barely been in the market for 6 months, its trends are very difficult to predict. It started off at a relatively high individual price of $0.678 USD in February 2018, reaching its maximum of $0.785 in the same month. Its value dipped in June 2018 to a minimum of $0.21, trading at $0.328 as of July 2018.
  2. Considering how new the token is in the crypto market, Bluzelle has climbed the market cap rankings remarkably quickly. It is ranked 133rd globally in terms of market cap, which is incredible since Bluzelle is not even 6 months old.
  3. With blockchain technology growing by leaps and bounds and its increasing popularity, the necessity for a decentralized data storage service like Bluzelle is also increasing.
  4. Since BLZ is a token used on the platform, its value may see some appreciation with increasing demand in the long term.

 

#5 – What makes Bluzelle different from other cryptocurrencies?

  1. While platforms supporting decentralized applications and developers building such apps are not new, they have been storing all their data in traditional cloud-based storage platforms, which is counter-productive in terms of scalability and the very principle behind a decentralized application.
  2. Bluzelle is the first cryptocurrency to provide highly scalable data storage using a concept similar to Airbnb.
  3. Its endless scaling ability due to the fact that the data is stored in a network model completely independent of data centers sets it apart from other cryptocurrencies.

 

#6 – Should you invest in BLZ?

  1. With a high market cap ranking achieved in hardly six months and an idea based on next-generation technology and usage, Bluzelle as a cryptocurrency has potential to generate some buzz amongst traders and investors.
  2. The potential of an endlessly scalable storage service which is quick in its scaling, which is capable of storing any amount of data in a decentralized manner, is one that many investors may have an eye for.
  3. BLZ is still new and in its beginning stages, but its experienced team and excellent advisors work in its favour and are indicative of a bright future for the BLZ token.
  4. Investing in the token may not give high returns in a short period (since the cryptocurrency is so new and difficult to predict). So some more research is advised.
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