Thanks all for participating in our Bluzelle AMA. We really appreciate all your support. There were really good and thoughtful questions that were asked. For those who missed our AMA, this blog post is for you
Mayank – Hello 👋🏻 @pavelbains welcome to CryptoNationIN. We are glad to have you here.
Pavel – Thanks for having me.
Mayank – Before we start I request you to tell about yourself and about Bluzelle project to our community.
Pavel – I’m the co-founder and CEO of Bluzelle. We have been in the blockchain world for a few years. We started by doing projects for big banks and insurers in Asia. HSBC, OCBC, AIA and more. Doing those those projects made us realize that there needed to be a decentralized database for dapps.
That’s when we started to build Bluzelle. It’s a POS decentralized database that does 10,000 TPS. Its powered by Cosmos.
Mayank – So from here you got the idea. Great 👍🏻
Pavel – Yes. What is the point of a dapp if only 20% is decentralized?
Mayank – Not much beneficial, if it is not decentralized fully.
Q1. Recently, you discover an fatal error in the Tendermint consensus algorithm. How to ensure that the Cosmos Inter-Blockchain Communication Protocol is immune to these types of failures when Buzelle is using it in production?
Pavel – Good question. The error being talked about is here: https://cointelegraph.com/news/blockchain-firm-bluzelle-uncovers-a-critical-bug-in-cosmos-consensus-algorithm.
The error we found was in the testnet version of the latest Cosmos release. No projects are currently using that (Binance, etc). We opted to work with the latest. The good thing is we found it during testnet. And that’s what Testnets are for. Discovery of bugs and errors. The cosmos team worked quickly to resolve it and we helped along the way. Based on that experience, I dont see any problems with IBC when it comes out.
Q2. Bluzelle is already 6 years in the market, and maybe you also going through ups and downs. My question is, as a CEO what do you think is the factor that made Bluzelle stayed for that long years and many long years to come in this huge market?
Pavel – Well the first 3 years we were in discovery mode. Doing projects for companies wanting to work with blockchain.
The last 3 years were for the current form – a decentralized DB. The last two years were very tough with Crypto winter. It would get demoralizing as all the hard work you did is being pushed against you.
Many projects failed and many people quit. What kept us going is that the storm always passes. And we are part of a revolution that is building new tech. And even though we think it is big, it’s still VERY early and VERY small. Crypto is just a drop in a VERY BIG bucket.
So that future potential excite us.
Q3. I would like to know about Bluzelle interoperability. What benefits can users get from having an interoperable platform in relation to blockchains?
Pavel – We can all agree that none of us know which blockchains will be the ONE. And we will have a world with many blockchains. But all of them will need to speak with one another. That is why you need interoperability.
Bluzelle was designed to be interoperable with any blockchain. We support many programming languages, java, nodejs, python, ruby, C#, solidity and more.
That means we can work with anyone. To make it easier, we chose Cosmos as our blockchain because when IBC comes out any blockchain that connects to IBC will automatically be able to work with Bluzelle.
Every dapp, regardless of blockchain, NEEDS a decentralized database.
Q4. Where is database for DApps stored? What measures has the Bluzelle team taken to prevent the theft of customers data and how will you guarantee the safety of collected data?
Pavel – No one can guarantee data will be safe. What we can say is that it is more secure than any other database. This is because any changes to the data must be verified by the blockchain. Anyone who wants to steal the data must take over thousands of nodes.
Q5. The user community is important to a crypto project. How does Bluzelle evaluate the importance of the user community? In the near future, does Bluzelle have any special plans to attract and expand the community?
Pavel – The community for the past 3 months has been outstanding. They challenge us and support us all the way. They give very good tips.
I guess now is the right time to announce our new community program. We will be giving details after this AMA in the @bluzelle TG group and @bluzelleann channel.
Our community helped us design it. It is called the BLZ Solider Ambassador program. All our members are soldiers helping us take our territory. We will give prizes, insights, special events and more for our soldiers. It will start with a bootcamp.
Q6. As you said Bluzelle is focused on DECENTRALIZED DATA STORAGE. So there, Why blockchain are needed to store data? What are the main advantage of using Blockchain technology for storing data ?
What advanced activities Bluzelle want to create?
Pavel -With centralized systems there is one single point of failure. The system can go down and one place needs to be hacked. That is not right. Cloudflare went down last week and a large part of the Internet did too because of it.
The blockchain ensures that data can only changed by the right person. And because it’s decentraized with thousands of nodes, even if a few nodes go down, the data is still available.
Q7. What is Difference between Bluzelle token (BLZ) and Bluzelle Native Token (BNT) will please explain ?
Pavel – BLZ is the ERC 20 token that you get on exchanges. BNT is the Bluzelle Native Token for the Mainnet. This makes sure everything runs fast. People buy BLZ and then it converts on the Bluzelle Network to pay for services and stake.
Q8. How do you plan to develop the developer community? What incentive programs for developers exist in Bluzelle?
Pavel – We just did our Swarm of Duty incentivized testnet. We had a over 40 projects built on Bluzelle and we rewarded developers for that. Because it worked so amazing, we have set aside a bigger ecosystem development fund that we will announce later this week. This will keep helping developers use Bluzelle.
Part of it we are partnering with a certain Layer 2 Ethereum net work. 😉
Q9. Which area does $BLZ focus on at the moment? (DeFi, Stake,Dapps..)
Pavel – The database market for Bluzelle is massive. Over $25 Billion projected. We have a report coming soon about it. Currently we have two major focus areas:
Defi – data will need to be stored in a decentralized manner.
Censorship/Privacy – people are worrried about their information being censored. Bluzelle helps prevent that.
Q10. What’s the story behind Bluzelle success? What was that vision when it first emerged as an idea? Are there any special prototypes or upcoming Bluzelle updates that you want to show/share with us?
Pavel – After the DB mainnet, we have a number of innovative projects coming.
One is defi focused. It will be core infrastructure to grow Defi.
The second is a content management system that is completely decentralized. This will revolutionize how smart contracts are used by mainstream.
Q11. Can you share the highlights of the Swarm of Duty Campaign? Are you planning to launch a big developer program in the future?
Pavel – Over 40 projects developed!
Over 200 validators – one of the biggest for any blockchain network. It was a massive turnout.
Q12. DeFi is one of the hottest topic in the blockchain space right now. Can $BLZ share your opinions on DeFi with us? Do you think that DeFi will disrupt the existing financial system? What is Unification approach towards the DeFi sector?
Pavel – Defi will usher in an alternative financial system. It won’t replace the current one. But more people will choose this new one. Its faster to send money. The savings rate is better than a bank (which now gives 0), and borrowing and lending money has no middleman and complete flexibility.
Q13. Investors are always looking for long-term hold benefits when investing. What attractive features does Bluzelle hold for long-term investors and what benefits does it offer?
Pavel – Do you believe blockchain is the future?
Do you believe Dapps will explode because of blockchain?
Every Dapp MUST have a database.
No better incentive than that to hold long term. It’s like when oil was being discovered. They all needed to be transported through pipes. Otherwise it just sits there.
Bluzelle is needed by everyone.
Q14. Why should organisations and DApps developer choose Bluzelle blockchain? Why are you the best platform for us to build our DApps?
Pavel – Thats the best part. You can build your Dapp on any platform. Just use Bluzelle to store the data.
Q15. Obviously adoption is crucial to the success and momentum of $Bluzelle, Any news in the pipeline short term that will be significant for adoption?
Pavel – The biggest use case for blockchain right now is defi. Thats what end users are using the most. Our defi solution will help that.
Q16. When will corporations stop being afraid to use decentralized databases? What does Bluzelle Network do to the mass adoption of dPoS?
Pavel – The last two years have shown we can’t sit and pray for large corporations. The crypto space grew on its own. It showed power and resiliance. We make privacy and defi grow and then the big companies start seeing their customers leaving. Then they wake up to our world.
Q17. Is the Bluzelle team planning to move from a data warehouse to a complete data platform including oracles?
Pavel – Bluzelle doesn’t need a warehouse. That is why we have a decentralized network. We have billions of people who can connect their devices to be a node and storage provider!
Laptops, mobile phones, Playstations, Xboxes!!!!
Q18. Are there any plan to do token burning in the future to reduce the supply of BLZ and increase its investment attractiveness?
Pavel – We are open to that.
Q19. Why do you care about Bluzelle dapp infrastructure, how do you see its advantages in security, tamper resistance and scalability?
Pavel – What happend with Cloudflare wont happen with Web 3.
Q20. From technological and commercial perspectives, how can traditional companies be integrated into the blockchain? What are your plans for traditional companies that continue to exist with their own systems?
Pavel – We support languages that traditional companies use. By using us, they dont have to learn anything new. They continue to work how they, they just connect to us for a superior solution.
Q21. Bluzelle is ensuring and developing the data security for Dapps but the core issue is the processing and collection of transaction data, so with its mission, what does Bluzelle do to become the most accurate data provider?
Pavel – We have that coming out soon.
Thank you to Pavel Bains and Community for participating in the AMA. Have a nice day