Bluzelle & Elrond Partner to Leverage Scalable Blockchain Technology for dApps
Elrond and Bluzelle have inked a partnership that will see decentralized apps (dApps) on the Elrond mainnet running on the latter’s tamper-proof scalability data layer. The move likely forms an important partnership in the quest for enabling greater usability for dApps within the context of the current Web 3.0 development.
Decentralized file storage continues to be an important aspect of Web 3.0 with protocols requiring more agile data layers than those provided by traditional services. The semantic aspect of Web 3.0 is one of the developing new processes in the emerging tech sector along with other pursuits like artificial intelligence (AI) and machine learning (ML) which may usher in the fourth industrial revolution.
Elrond dApps to Run on Bluzelle Architecture
Bluzelle announced the news of the partnership via a recent press release issued on the company’s Medium blog. According to the statement, the collaboration will see dApps running on the Elrond mainnet have access to Bluzelle’s decentralized database layer.
Both Bluzelle and Elrond devs will create viable channels for interfacing between the two networks to enable Elrond dApps to have access to a scalable data network. With Elrond looking to offer high-speed payment capabilities, the Bluzelle collaboration could provide the required boost to take its transaction throughput above 10,000 TPS.
Apart from enhancing scalability, the partnership also offers significant cost-saving benefits for Elrond-based protocols. Bluezelle also utilizes a robust fault-tolerant decentralized architecture which could mean even greater security assurance for Elrond DApss.
Commenting on the partnership, Bluzelle CEP Pavel Bains, remarked:
“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.”
For Elrond chief Beniamin Mincu, decentralized database layers are critical to the success of blockchain-based payment networks. Crypto adoption in the retail sphere is still an ongoing goal of many in the industry with microtransactions requiring fast throughput capabilities.
The collaboration also comes at a time when Bluzelle is already creating Web3 solutions for decentralized projects. Elrond devs will likely be focusing on the synergistic adaptation of Bluzelle solutions in unlocking practical use-cases for Elrond dApps.
Elrond Seeking Greater ERD Utilization
For Elrond, the partnership with Bluzelle is also part of the project’s effort to increase utility for its native token ERD. Indeed in 2020, the payment system has been collaborating with several companies to improve the visibility of ERD tokens especially in the area of payment acceptance.
Back in mid-June Elrond partnered with crypto-friendly online travel agencies TravelbiBit and Travala. The collaboration enables customers of the two platforms to pay for flights on over 600 airlines and two million hotels across the world.
Elrond’s partnership with online travel agencies is only one in a raft of such moves to ensure greater crypto payment penetration in the hospitality industry amid the effects of the ongoing coronavirus pandemic. With countries on lockdown for many months, global tourism has been negatively impacted.
According to data from CoinMarketCap, Elrond is ranked 44th according to market capitalization and has been on a tear in terms of spot price since the start of the year. ERD is up almost 2,000 percent year-to-date (YTD).
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OhNoCryptocurrency via https://www.ohnocrypto.com/ @Osato Avan-Nomayo, @Khareem Sudlow
