Bluzelle (BLZ) Review (UPDATED 2018): A Beginner’s Guide | VKOOL

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The more blockchain technology grows and expands, the more there's a need for new ways to store data. Right now, the traditional paradigm reigns supreme: centralized data storage. But blockchain platforms tends towards decentralized setups, meaning soon we'll need decentralized ways of dealing with how we store and access data and assets.

Bluzelle is a platform for just that: a storage network for users and developers alike to store data in a decentralized way that is more secure than the existing model.

And instead of competing with other blockchain-based decentralized data storage platforms like Sia or Storj, it could end up being complementary to these types of services, as opposed to competitive.

Feel free to use our guide below to catch up on what Bluzelle is, how it works, and how you can get involved. You can also check up to see if Bluzelle made it to our list of the best cryptocurrencies of 2018.

How Bluzelle Works

Fundamentally, Bluzelle is a platform that lets users rent out space from providers, for which providers are reimbursed with native tokens. The idea that separates Bluzelle from other decentralized storage platforms is that they intend it as a way for developers of decentralized apps to store data on the platform, so that they can make their products better and faster. By offering a decentralized way to store application data, it will be harder for something to go wrong that could cripple an app, such as a power outage making certain data irretrievable or a hacker stealing data for their own ends.

The network is made up of nodes that are managed by a rating system, a system of governance, and a payment system that uses two different tokens, BLZ and BNT. We'll look at those in a bit.

Bluzelle Swarms

The foundation of Bluzelle is the swarm. It's a network of different nodes that store the data on the network, with the sum total of all swarms being referred to as a singleton metaswarm. A leaf swarm is what stores a shard of data, split up between different swarms, so that user data is kept safe and can be downloaded more quickly than it would be if downloaded from a single location. It also makes sure that if one node goes down, the data can still be retrieved (as copies are made of shards). Data security is maintained by users needing a private key to gain access to their files.

Additionally, all data is encrypted.

You'll find this as a feature of many cryptocurrencies – such as the ones on our list of the best altcoin investments of 2018.

The Karma System

To maintain high standards for behavior on the network, Bluzelle uses a karma system to rank node operators. Poor behavior results in a lower karma grade, and the lower the karma grade, the worse the punishments, including restrictions and penalties.

On the other hand, a high karma grade results in more privileges, including the opportunity to lead a whole swarm. You have to be in the top 5% for this ability, though, and you must still be voted on in order to become a swarm leader.

The Bluzelle Tokens: BLZ and BNT

There are technically two tokens for Bluzelle: BLZ, an Ethereum-based token, and BNT, the in-house network coin. While unusual, it has its rationale: by having one token be purchasable at exchanges (BLZ) which you can exchange for the coin actually used as payment within the network (BNT), the end token used in Bluzelle doesn't need to rely on the stability and network strength of Ethereum. The initial token is easy to acquire, but because it's not used in the actual transactions, you don't need to put up with the drawbacks it could come with.

The Bluzelle Team

The developers of Bluzelle come mainly from management and engineering backgrounds, including CEO Pavel Bains (formerly of Disney) and Neeja Murarka (formerly of IBM, HP, and Google). Other team members have worked on blockchain applications for Microsoft and HSBC, among others.

The team's 2018 plans include developing the core features and increasing the size of its network infrastructure. Later in the year they hope to release smart contract technology and mobile apps for their user base to use.

Their Competition

There are other blockchain platforms out there that focus on decentralized data storage, including Sia, Storj, and Filecoin. However, because they focus on different user bases and end goals, they're really not all that similar at all. Bluzelle's end goal is providing a way for app developers to store data, while companies like Storj and Sia are more focused on user data storage (similar to Dropbox and Google Drive). You can check out other great up-and-coming coins on our list of the best cryptocurrencies of 2018.

Their Trading History

This is a brand-new coin, but it's already had a strong start. BLZ had its ICO in January of 2018, but despite only a couple weeks having gone by, it's currently 136th in terms of total market cap. In an increasingly-crowded marketplace, that's not too shabby. The price is likely to change over the course of early 2018, and could make gains with public announcements of new features they've released, or partnerships with other companies. Who knows? They might even choose to partner with a company like Sia or Filecoin, something which could help the value of both coins.

Buying BLZ

There's good news. Unlike most brand-new coins, you can actually get BLZ at some of the biggest coin markets in the world. Right now, Binance trades in it, and you can also get it at Gate.io. Heads up, though: you'll need to buy it with Bitcoin or Ethereum. Right now, it doesn't look like there are any places which allow directly buying it for fiat.

Storing BLZ

Right now, since BLZ is an ERC-20-compliant token, you can store it on any wallet that supports the ERC-20 protocol. That includes MyEtherWallet, one of the most popular online options. It's free, too.

If you want a more secure option, you can buy a Trezor or Ledger Nano S, both of which are hardware wallets that can be disconnected from the internet, making your coins safe from network shutdowns or hackers.

Bluzelle vs Siacoin

Both of these platforms are blockchain-based decentralized data storage networks. Both offer coins as rewards to those who volunteer their space to host data and run a node. There are some differences, though. Bluzelle is aimed at app developers who want to rent out space to store data safely and securely, while Siacoin seems intended for everyday users who just want a place to store and share things for themselves, mainly. You can mine Siacoin (through proof-of-work) while Bluzelle doesn't appear to allow mining their coin at all.

Bluzelle vs DADI

Again, two decentralized data storage platforms, but with differences. DADI doesn't just offer data storage, but decentralized cloud-based processing power and delivery of content, while Bluzelle focuses mainly on storage. Both are intended for use by businesses and apps, although Bluzelle is specialized mainly for app and dapp developers. DADI is brand new, just like Bluzelle, but doesn't seem as far along, development-wise. There are also rumors that DADI is untrustworthy and has been accused of plagiarism and a lack of professionalism, while Bluzelle hasn't had any similar controversies.

Bluzelle vs Storj

The comparisons and contrasts here are similar to those between Bluzelle and Siacoin. Bluzelle is app developer-focused, while Storj seems more geared toward most anyone (including developers and businesses). Both use coins as reimbursement for hosting data, and both use ERC-20 Ethereum-based tokens. Storj has one coin, STORJ, for both purchase and use on the network, while Bluzelle has one coin for purchase (BLZ) and another for use (BNT). Storj has been around longer, but Bluzelle hasn't yet shown all of its capabilities yet, so it's yet to be seen which is the more powerful platform.

Frequently Asked Questions

  1. What's the Bluzelle coin?
    The BLZ token (purchase) and BNT (used in-network).
  2. How many Bluzelle tokens are there?
    Just two: BLZ and BNT.
  3. When was the Bluzelle token sale?
    January, 2018.
  4. What exchange has Bluzelle?
    Binance and Gate.io are two good ones.
  5. What's the price of Bluzelle?
    Around $0.64.
  6. Where can I read a review of the Bluzelle ICO?
    Probably on Medium, or on a crypto blog.
  7. Is the Bluzelle presale going on?
    Not anymore, no.
  8. Where can I read a review of Bluzelle?
    There's not much to read about until it's fully released, but you can check Reddit or Medium.
  9. Is Bluzelle on Reddit?
    Yes, there's a small community there.
  10. Can I get Bluzelle on Binance?
    Yes.
  11. Does Bluzelle have a Twitter?
    Yes.
  12. What is the Bluzelle whitelist?
    We've never seen a reference to this, so we couldn't tell you.
  13. I got the message “Sorry, this ETH wallet is not authorized to participate in the Bluzelle token sale” – what does it mean?
    You likely did not have a wallet that was allowed to store the tokens bought during the token sale, either because it's not ERC-20 compatible or the company just didn't allow it for some reason.

Conclusion

There seems to be a niche blockchain platform for everything these days, and as decentralized apps take off, there'll need to be a good place to store their data. Bluzelle offers just that, and in a way that's quick to access and secure from accidents and attacks. While this platform has just gotten off the ground, it'll be a while before they reach their full potential. It'll be interesting to see what happens as things take off, and since it's constructed in a way to actually collaborate with other blockchain platforms, we might begin to see a new era of interconnected platforms that work together the benefit of all.

Like Bluzelle, but want more coins to consider investing in? We just released our picks of 2018's best investment opportunities, so give it a read.

Peter Lehmann

Peter is a blockchain investor and cryptocurrency writer at Vkool.com. Since 2014 Peter has advised blockchain startups and ICOs on content marketing, strategy and business development.

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