HIGHLIGHTS ON BLUZELLE RECENT PARTNERSHIPS
BLUZELLE ENTERS POLKADOT ECOSYSTEM:
Polkadot is en route for developing a platform that is very strong providing high-level security, scalability, and innovation. Its features are listed below
True interoperability
Economic and transactional scalability
Easy blockchain innovation
Forkless and future proof
Security for everyone
User-driven network governance
Polkadot is the flagship project of the Web3 Foundation. Basically the Web3 foundation was created to help and nurture the technologies and applications in the fields of web software protocols. The fields that utilize innovative cryptographic solutions to provide security to decentralization for stability of the Web3 ecosystem. W3F is currently involved in the building of scalable, interoperable, and secure network protocol for cross-chain applications. Coss-chain means that two entirely applications or blockchain are interoperable with each other.
Bluzelle will bring its amazing distributed storage capabilities to help the building of the project on the Polkadot substrate framework and will provide its services of storage of databases for these projects. This will open ways for the advancement of Bluzelle to become a de facto layer for Web 3, which is its goal. The cross-chain compatibility supports applications including that of Defi to gaming including many apps in between.
These projects need to have a reliable storage that is decentralized in nature for the security and scalability of its applications. Bluzelle works as a perfect storage solution for these projects and by connecting to them Bluzelle will speed up the transition to Web3. Bluzelle has a really advanced data delivery network so this way the projects are saved from any kind of data breaches, network failures and runs smoothly avoiding any performance troubles.
It will serve as a backbone to support innovation while involving in the Web3 movement. Polkadot has a scalable and sharded blockchain, sharded means when one’s data is being broken into two or more chunks or pieces called as logical shards. This Polkadot blockchain is designed to support cross-chain composability and it is ideal for the launch of decentralized Apps (dApps). Here comes Bluzelle, as it removes the need for dependence on centralized data centers and provides decentralized service as a data delivery network.
Bluzelle is a storage solution for dApp and its architecture resembles that of Polkadot. This will allow developers to launch new parachains while having access to a safe and reliable data network which is very beneficial for developers. This will reduce the worry of developers for their data as Bluzelle provides a decentralized data storage solution. Bluzelle Oracles that is powered by the Bluzelle database enhance Defi project security and price reliability and it help the projects store data in a decentralized manner. It provides high demand price feeds for Defi applications and can support a wave of Polkadot apps easily.
What Bluzelle aims, is to be the go-to data layer for Web 3, and Bluzelle will achieve this by providing a data network that is temper resistant, is more secure, has high scalability and availability than other traditional solutions and this makes Bluzelle stand out among other databases. Bluzelle allows a very high speed of 10,000 TPS powered by cosmos and is definitely growing as DeFi structure increases.
BLUZELLE AND REEF FINANCE:
Reef is the first cross-chain DeFi operating system that is powered by Polkadot Reef is now a partner with Bluzelle and has become the first adopter of Bluzelle Oracles. Decentralized Bluzelle Oracles enhance DeFi project security and price reliability having 3 main features:
Fast pricing intervals
High-Quality price data
Advanced security triggers
With Reef, one can trade at the best price with liquidy of the whole crypto market, earn the best return of staking, and no need for sharing their private keys. The quality that Reef provides with that users can trade at the best price, because of Oracles integration it will become more smooth and perfect.
Reef incorporates both CEXes and DEXes, which will increase the liquidity for all the cryptocurrency assets, traders, and managers. It has to come up with the best strategy for trading and it can be done by observing and aggregating information from all exchanges which will help users to come up with the best strategy through their Al-driven yield engine. Getting the most accurate pricing data is very crucial for the trading process and Bluzelle Oracles serves as a perfect solution for that.
Bluzelle Oracles collects data off-chain from various sources and get them available on-chain for any blockchain that is smart-contract enabled and Polkadot is included in the list. Basically Oracles will provide well-researched and authentic data and Reef will get benefit from the reliable market data that Bluzelle Oracles provides as an independent decentralized network that is secure.
It will also allow historical data to be available which will help the decision making of Al-engine. Together they will make the adoption of DeFi go mainstream as Bluzelle DB will allow users to gain more confidence in on-chain prices. Because of the decentralized storage, Reef Finance can store their data on different hosts distributing files across the entire network without worrying about restriction from a centralized entity. With Bluzelle Oracles, Reef Finance will manage their data smoothly and flexibly, ensure security through data encryption, secure backup, and authorized access. This all plays an important role for Reef Finance to step up and shine on DeFi platform and to increase DeFi adoption, reaching a greater audience.
