What Is Bluzelle (BLZ)?

Bluzelle (BLZ) is a blockchain for GameFi. Simply put, GameFi combines video games (gaming) and decentralized finance (DeFi). GameFi uses "play-to-earn," where players make money using the time given to the game.

Currently, most blockchain-based games face the challenges of scalability. Also, exorbitant transaction fees are not conducive when participants continuously trade and exchange NFT assets. Simultaneously, NFTs are saved on a centralized server, which can go down and cause the players' assets to be lost. According to the official document of Bluzelle, players can use gaming to attract the subsequent billion crypto users, and the platform aims to provide a better experience to them. In simple terms, Bluzelle is a GameFi blockchain that can produce high-quality games, protect players' NFTs in its decentralized storage layer, and allow users to benefit from DeFi yields.

The platform uses the following features to support its vision:

• Fast and Efficient Blockchain

• Decentralized Storage

• Defi in Games

• High-Quality Games

Bluzelle uses a fast and efficient Cosmos-based blockchain. Cosmos is an "internet of blockchains," or a decentralized network of interoperable blockchains that can exchange information and tokens among each other without permission.  Blockchain interoperability is the technique by which two or more blockchains communicate with each other. Additionally, Bluzelle uses a decentralized storage layer that allows players to instantly store game NFTs on hundreds of nodes (computers), thus providing a haven. Bluzelle also brings together all the high-performing DeFi solutions of the Cosmos ecosystem to provide lending, staking, and yield opportunities for game assets. 

With its founders experienced in the games industry, Bluzelle plans to launch its first play-to-earn game called Denomination, a real-time card game where gamers can compete against each other (player vs. player) or against the environment (player vs. environment) and to win rewards.  

BLZ is the native token of the platform and a key component of its GameFi. Players can use BLZ to purchase NFTs and other in-game items and subsequently store them on the network. Also, validators can earn rewards using BLZ tokens. Further, users can pay for Bluzelle network transactions and Bluzelle database services using BLZ tokens. Lastly, users can stake BLZ tokens and earn rewards and participate in network governance.  

History of Bluzelle (BLZ)

As mentioned in the whitepaper, Bluzelle was launched in July 2014 by Pavel Bains and Neeraj Murarka. The platform began as a technology stack that simplifies chain applications, according to the founders. Bluzelle's CEO is Bains, while the CTO is Murarka. On April 15, 2018, they co-published the updated version of the whitepaper.

Bains has extensive experience in operational management, digital technology, and financial management. Murarka is a computer systems architect and engineer with substantial experience working for global tech giants. Bluzelle's parent firm, Bluzelle Platform Pte Ltd, is in Singapore.

Bluzelle's token sale intended to collect funding for the development and marketing of its decentralized database service. The founders offered a total of 33% of the tokens for sale to raise $19,500,000 to be collected in ETH. 

How Are New Bluzelle (BLZ) Tokens Created?

Bluzelle uses a delegated proof-of-stake consensus mechanism, stemming from proof of stake. This not only maintains the network's integrity but also allows every token holder, regardless of technical skill, to contribute to the network's security and earn transaction fees and rewards. In a DPoS-based blockchain, validators can outsource their work to a few delegates who safeguard the network on their behalf. Subsequently, the delegates, also known as witnesses, oversee consensus throughout the production and certification of new blocks.  

How Many Bluzelle (BLZ) Tokens Are There?

There is a maximum supply of 500 million BLZ tokens, out of which 10% (5 million) are allotted for distributing staking rewards.  

How to Purchase Bluzelle (BLZ) Tokens

You have a lot of options when it comes to Bluzelle (BLZ), including Coinbase. You can buy Bluzelle on Coinbase.com or Coinbase app, anywhere Coinbase is available.