What is Bluzelle? Definition, Features & BLZ Token Explained

Bluzelle is a Gaming-focused Blockchain that offers users high Throughput, low prices, and decentralized garage ideal for purchasing and promoting gaming Non-Fungible Tokens (NFTs). It is built on pinnacle of the Cosmos bLockchain.

Popular blockchains like Ethereum be afflicted by scaling obstacles and excessive Transaction Charges, making them impractical to apply for gaming. Bluzelle, but, aims to create a higher gaming experience for pLayers through prioritizing quicker and inexpensive transactions.

According to its Website, the blockchain can execute 10,000 transactions consistent with 2d (TPS) compared to Ethereum’s 12 TPS.

What Makes It Unique

On top of being a gaming-optimized blockchain, Bluzelle offers a decentralized inFormation and report Storage solution called Bluzelle DB for Developers and players to save their Codes, NFTs, and more.

Data is stored on a commUnity of 13 or extra Nodes, making sure that information is Constantly to be had even if a few nodes are Offline. Data stored at the nodes are synced with a consensus Engine, which means that that no cHanges can be made unless two-thirds of all nodes agree on them.

Furthermore, Bluzelle develops blockchain games in partnership with 1/3-celebration gaming studiOS. GAMMA4, a Play-to-Earn (P2E) card warfare sport, is being evolved in Collaboration with StarLoop Studios. Bluzelle has also released a gaming-targeted NFT market referred to as Cappella.

Lastly, the blockchain looks to faucet into the tremendous Decentralized Finance (DeFi) global inside the Cosmos ecosySTEM and gives Gamers lending staking and yield strategies for his or her sport belongings.

What is the BLZ Token?

BLZ is the native Cryptocurrency of the Bluzelle blockchain. It is used to:

• Pay for transaction expenses on the Bluzelle blockchain;
• Pay for Bluzelle facts storage and oracle offerings;
• Stake and earn rewards;
• Participate in Network governance;
• Buy in-game items.

The BLZ token exists in two paperwork:

• As a native token at the Bluzelle blockchain
• As an ERC-20 token on external blockchains

BLZ tokens can be bought on centralized crypto exchanges Binance and Huobi and on Ethereum-primarily based decentralized change Uniswap.

How Many BLZ Tokens Are There?

In September 2023, the whole deliver of BLZ tokens stood at 500 million, whilst the Circulating Supply became 413.9 million.

How Does Bluzelle Work?

Validators Bluzelle is a Delegated evidence-of-stake (dPoS) blockchain that has a commuNity of validators who stake their BLZ tokens to take part within the introduction of latest blocks. The “energy” of a validator relies upon on the aMount of BLZ tokens they stake.

For Instance, if the overall wide Variety of BLZ staked is 10,000 and Adam has staked 1,000 BLZ tokens. Adam may have 10% of the to be had vote Casting power and will earn 10% of the overall community revenue to be had.

Validators earn Block Rewards in BLZ tokens. The block rewards come from the whole gas costs paid on every block.

Additionally, Bluzelle has allocated 10% (or 50 million BLZ tokens) of its token deliver to incentivize validator participation.

Like maximum PoS blockchains, Bluzelle slashes the validator’s stake when they behave badly.

As a dPoS chain, user can delegate their BLZ tokens to validators and earn yields on their deposits.

Gas and Tax Gas prices are collected whenever a consumer transacts at the Bluzelle blockchain. Most of the costs collected are used to pay block rewards to validators.

A small part of the fuel charges are accumulated as taxes, which might be used for community improvement and preservation.

About Bluzelle: History and Funding

According to Crunchbase, Bluzelle turned into based in 2014. The company is centered in Singapore. It has carried out six investment rounds and has raised a complete amount of $22.3 million. Most of the capital raised turned into via its January 2018 preliminary coin supplying (ICO) when Bluzelle raised $19.Five million.

The 3 essential investors who participated within the Bluzelle ICO have been KR1, Kinetic Capital, and eight Decimal Capital.

Bluzelle’s State-of-the-art funding spherical became performed in August 2019.

Who Created Bluzelle?

Bluzelle changed into co-founded through Pavel Bains and Neeraj Murarka. Bains is Currently the CEO of Bluzelle, at the same time as Murarka is the organization’s CTO.

According to Bains’ LinkedIn proFile, he has Advertising and marketing and economic consulting experience. He has worked for a gaming studio named Threewave Software in the beyond. Bains formerly co-founded a virtual e book Platform called Storypanda.

Murarka’s LinkedIn profile shows that he spent his entire career in tech. He has labored as a Software Engineer at Zynga and Hewlett-Packard.