18 Feb BLUZELLE ($BLZ) to disrupt data storage industry leaders Dropbox & Google?
As we know, blockchain tech has many use cases and the potential to replace a long list of existing technologies. One of these is data storage and that’s exactly what Bluzelle is focused on.
Bluzelle wants to combine the best of the sharing economy with the token economy. Anyone can rent out excess computer storage space while dApp (decentralized application) developers can use this space to store and manage their applications’ data. Centralized cloud-based databases won’t cut it for dApps because of major scaling issues. If Bluzelle succeeds, its technology has the potential to disrupt data storage leaders like Dropbox & Google.
BLUZELLE’S PLAN FOR SUCCESS
Bluzell has already proved competence by building blockchain technology for Temenos, HSBC, Microsoft, and BT. Now there is a growing need for data storage solutions and Bluzelle plans to be there to fill that need with their own blockchain technology.
Key Features of Bluzelle’s Tech:
- Data is stored in groups of nodes, a.k.a. swarms. This removes concerns about a central point of failure, a very real threat in the world of cloud computing. The reality is that a “cloud” is just someone else’s computer or server.
- Bluzelle uses an algorithm that provides infinite scaling. By storing the dApp data using a unique network model, it can provide scalable database servers regardless for any level of demand. The only limit to scaling is how much excess storage space people choose to share with Bluzelle.
- These two features are coupled with a dynamic performance solution. Bluzelle dynamically adjusts the number and location of nodes sharing data to reduce request times. This improves the overall performance of the ecosystem.
USER ADOPTION IS CRITICAL FOR SUCCESS
So now that we know that Bluzelle’s tech can scale with no boundaries let’s return to address the most important driver of Bluzelle’s future success: user adoption.
We certainly wouldn’t want to end up like these guys:
Considering the ecosystem will depend entirely on the amount of data storage users commit to the platform, we want to find any metric we can get our hands on to gauge how likely users will be to adopt the technology. Here’s what I’ve found.
- A strong Telegram group with 25K+ members and countingJust to emphasize for those who may not be familiar with telegram in the cryptospace… 25K members is an elite level for a cryptocurrency project. The average for an ICO project might be around ~5K members.
- An active Twitter account with also 25K+ followers and counting and updates directly from CEO Pavel Bains
- Strong partnerships emerging with other strong blockchain projects
- 0x – a decentralized exchange protocol (San Francisco)
- Zilliqa – a blockchain protocol focused on delivering high throughput (Singapore)
- Bee Token – this home sharing platform team comes from Uber, Google amongst others (San Francisco)
Today, we are proud to announce our first wave of partnerships: @0xProject, @zilliqa, & @thebeetoken. Each one is deep with technical expertise and playing an important role in the blockchain Ecosystem.
— Bluzelle (@BluzelleHQ) February 13, 2018
THE BLZ TOKEN
Bluzelle has its own native cryptocurrency, BLZ. BLZ can be exchanged for database services or earned by users who share computing resources.
Bluzelle’s ICO sold 33% of the total 500,000,000 BLZ tokens for $0.12 USD. Currently BLZ is valued at $0.64, a solid 5X increase from the ICO price. This puts the market cap at over $100M USD, and its current rank is #145.
BLZ was listed on Binance and coinmarketcap on Feb 6th. Binance is currently where most of the trading volume is. Once the initial price pump tabled out, early investors have taken profits and now BLZ is trading at about a 30% discount in the BLZ/BTC pair from all-time-highs.
My opinion is that this is a case of a project where the price will follow the hype cycle and key roadmap dates. Until the next milestone, who knows which direction the price will move in.
WHAT’S NEXT ON THE ROADMAP FOR BLUZELLE?
A minimum viable product is expected to be revealed in April of this year. Building out the infrastructure required to serve as a distributed database for dApps will not be easy.
More improvements will be made through 2019. Some of the upcoming features include:
- smart contracts
- mobile apps
- proof of stake requirements
- Sybil attack tolerance
Bluzelle has an exciting couple years ahead of it, and although there is a lot of work to be done still, they have a lot going for them. It’s definitely worth taking a look at. If you decide to get involved, it should be an interesting ride. Always remember to DYOR. Whitepaper (PDF)
Hold on for dear life