Review on Bluzelle by Fabrizio Zampieri
While Bluzelle has a variety of different use cases, their core business is…
While Bluzelle has a variety of different use cases, their core business is their decentralised, on-demand, scalable database service for dApps. Inspired by concepts used in NoSQL and sharding, Bluzelle is able to create an efficient crypto-economic ecosystem where 'producers' who have excess computing resources (CPU processing power, memory, permanent storage and network connectivity) are connected with 'consumers' looking to access additional database space.
In short, producers are essentially miners who lend computing power to the Bluzelle network, upholding the entire database of distributed information. The Bluzelle producer economy is referred to as a swarm of nodes (i.e. a metaswarm), and members can be reimbursed in BLZ and BNT—the two tokens facilitating the economy. To build a more robust and reliable database economy, Bluzelle collateralises tokens to ensure producers meet the computing resource standards required of a producer.
The second actor in the Bluzelle ecosystem is the 'consumer', likely dApp developers looking to store and optimise their products by storing them on an immutable, decentralised platform. The consumer utilises the Bluzelle database network and pay for these services in BLZ and BNT tokens. The BLZ token is an ERC-20 token which is publicly tradable to individuals around the world while the BNT token (Bluzelle Native Token) is a token privy to the Bluzelle consumer network. This means the Bluzelle network bypasses the congestion restraints of the Ethereum network and also allows for greater autonomy in dictating where and how data is stored. Further, these tokens will be pegged to the same value, ensuring a mutual appreciation of the currencies and creating a heightened incentive for people to act as producers.
This entire network will be regulated by the 'Karma Index'. Here, producers who are identified as "behaving poorly" via their Ethereum key can expect penalties, while those in the top percentiles will have the opportunity to become leaders of their respective swarm. Again, this is another Bluzelle feature that's expected to promote a higher quality of service without the use of any centralised forces.
Overall, the Bluzelle network is a secure, self-regulated and scalable platform catered to storing dApps.
Bluzelle has attracted many engineers with strong backgrounds in constructing and scaling technology projects. The core of the project Neeraj Murarka (CTO) has an extensive 20 year background in computer systems architecture, having worked with Google, IBM & Hewlett Packard.
Pros
- - The Bluzelle product suite goes beyond their database solution for dApps. Bluzelle business are a combination of “blockchain ledger, decentralised, and trustless computing software solutions". Other interesting uses-cases include: 1- building mobile wallets based on Ripple and forks of Ripple; 2- building sophisticated hardware wallets to protect crypto-assets on Ripple, Ethereum and Bitcoin; 3- building enterprise KYC software solutions on top of Ethereum for OCBC, MUFG and HSBC banks; 4- developed a full service suite of services to power ICOs, including security-audited smart contracts to power ER0-20 tokens and sales contracts. - Important partnerships: ox, Zilliqa, Bee Token (three most high profile blockchain projects in terms of recent social media attention). Bluzelle has also built database services for enterprises such as HSBC Bank, Microsoft, BT and Zagbank.
Cons
- - Token quotation is currently understimated. - Bluzelle is a young project and will produce positive effect in medium period (2-4 years).
