Bluzelle (BLZ): Ever since smart contracts were invented, a ton of blockchains have been built and developed aiming to solve the problems that came up with the technology. One of the major problems that the parent blockchain, Ethereum faces is lack of scalability and lack of data storage for the decentralized applications (dApps) built on it. These problems affects the platform by making it slow and overcrowded as more dApps are created on to it.
Bluzelle is a platform that focuses on solving these problem through its blockchain network. The platform allows decentralized app developers and users to share their unused devices for data storage in exchange for the BLZ token. The platform also allows decentralized and secure data storage for dApps registered to Bluzelle. The best comparison to Bluzelle in the current technological times would be Oracle Systems.
The problems that come with the use and centralized nature of Oracle’s data storage and management gives Bluzelle (BLZ) an upper hand as it aims to bring a decentralized data storage and management protocol for dApps. Oracle Corp. announced of its intentions to roll out its blockchain later this month which would offer competition to Bluzelle Network’s already established blockchain.
The Bluzelle platform tokens ̶ BNT and BLZ
The platform depends on two tokens to run the system as fuel; BNT, the internal blockchain network that enables the Bluzelle ecosystem to function and the ERC20 compliance token, BLZ which connects BNT to the world of other cryptos, especially ETH.
The huge number of investors participating in the ICO when the BLZ token was first offered earlier this year, showed the increasing interest in the market to adopt new coins. The total amount raised through the pre-sale and public sale totaled to $19.5 million USD and reached the set hard cap of 162.5 million BLZ tokens (33% of total BLZ). A total of 178,927,098 BLZ are currently in circulation with the maximum cap set at 500 million BLZ tokens.
BLZ token price has been very volatile since the launch on January 20th with the price fluctuating between a high of $0.78 USD and a low of $0.25 USD during its short 3 month period. BLZ traded at $0.6704 USD on Tuesday, May 8, 2018 8.44 AM EAT, representing a 20% increase in the last 24 hours. Investors who bought at the dip in February and March are currently enjoying the profits as BLZ increased by 110% in the past 45 days. The token is ranked 144th on the Coinmarketcap listings and BLZ’s market cap stands at $119,952,726 USD worth of BLZ tokens.
Bluzelle Networks in human form
Bluzelle Networks PTE Ltd., the parent company to Bluzelle platform has a well-established and experienced team as the BLZ team members hail from some of the biggest tech companies in the world including Google, Microsoft, Disney, Ucla, Lufthansa and ZEROBLOCK. The vast experience in computer science, artificial intelligence, cryptography and cognitive science offers a strong base for the success of Bluzelle.
Bluzelle (BLZ) management team is led by Paul Bains, CEO and co-founder, who has over 15 years of experience in the field of digital technology and has previously worked for Disney, co-founding the digital storybook, StoryPanda which is a huge hit. Neeraj Murarka, CTO and co-founder, has a record of success while working with Google, Hewlett-Packard, IBM and Lufthansa.