Bluzelle and Elrond entered into a partnership that will see two blockchain outfits leverage the scalability of the technology for Dapps.
Bluzelle and Elrond (a top 40 CMC project) have entered into a partnership that will see the two blockchain outfits leverage the scalability of blockchain technology to enhance DApps built on the Elrond mainnet. Through the partnership, Elrond’s mainnet will be running on Bluzelle’s tamper-proof and decentralized database layer.
The world of decentralized finance is advancing at a fast pace and as a result, the demand for a flexible and easily scalable network infrastructure. While the current providers have been doing a great job, the Elrond’s mainnet will usher DApps into a new dimension of tamper-proof data network defined by privacy, availability, and scalability.
Currently, the Elrond Smart Accounts are built to have an associated data trie and key-value storage at the account level, and this helps recreate innovative use-cases in its DApps all in partnership with Bluzelle. The two companies will be venturing out to conduct additional research and this research will be centered on discovering ways to unlock more unique use-cases enabled by automated data provisioning in a fully decentralized environment.
Elrond’s Chief Executive Officer Beniamin Mincu commented on the partnership in a statement. He said:
“This is a critical milestone for organizations looking to leverage Elrond’s high throughput & inexpensive mainnet for financial applications involving blockchain. A decentralized database layer is indispensable for such scenarios. We’re excited about this important step we’re taking with Bluzelle.”
Bluzelle and Elrond to Benefit from Elrond’s Blockchain Architecture
Although Bluzelle has an enviable decentralized database solution adaptable in the blockchain ecosystem, Elrond’s mainnet comes with unique capabilities that will give the partnership a good headstart in the space.
Elrond is a new blockchain architecture, designed from scratch to bring a 1000-fold cumulative improvement in throughput and execution speed. To achieve this, Elrond introduces two key innovations: a novel Adaptive State Sharding mechanism, and a Secure Proof of Stake (PoS) algorithm, enabling linear scalability with a fast, efficient, and secure consensus mechanism.
Thus, Elrond can process upwards of 10,000 transactions per second (TPS), with 5-second latency, and negligible cost, attempting to become the backbone of a permissionless, borderless, globally accessible internet economy. The Elrond offering and this partnership will make the Elrond mainnet the goto place for developers, validators, and new businesses who desire to build and help usher in a new internet economy.
Partnership Gives a Better Boost
The partnership between Bluzelle and Elrond complement each other as both startups aim at revamping the outlook of Web 3.0. While Elrond will provide the desired scalable decentralized application, Bluzelle will provide a decentralized database solution that is compatible with database types such as NoSQL databases and will be usable in multiple scenarios ranging from high performant data relays to individual database services.
“Integrating with Elrond’s high-speed network will create all the prerequisites needed for developers looking to build highly scalable and fully decentralized applications. We’re eager to explore the potential new scenarios enabled by their Smart Accounts,” Bluzelle Chief Executive Officer Pavel Bains noted.
With this partnership, the two companies want the entire blockchain community particularly the key actors in the decentralized finance ecosystem to come to harness the potentials of the Elrond mainnet for a greater functional and efficient DApp.
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.