Bluzelle AMA Recap (29th October, 2020)

9 min readOct 31, 2020

Hello, on October 29, 2020, Bluzelle’s founder and CEO, Pavel Bains, participated in a live AMA session on Bluzelle’s Telegram channel (https://t.me/bluzelle). Below the transcript of this AMA.

Darshan (Bluzelle admin):

Hello @pavelbains, how are you?

Pavel Bains:

Let me show you. 😁

Darshan (Bluzelle admin):

Haha nice nice, you always come up with unique way to say Hello. I like it.

Pavel Bains:

Well all things recently have been voice or text. So good to have some video.

Segment I — Questions collected from the form

Darshan (Bluzelle admin):

Yeah yeha.

So without wasting our time, let’s move onto first question.

Q1 : Q1 Please help me understand oracles we have Bluzelle Link and Band oracles. What’s the difference between you all?

Pavel Bains:

The Oracle space is very important to the defi sector and then to the greater Blockchain industry later.

From talking to defi projects, they dont want to rely on just 1 Oracle solution. They want 2–3. This makes them feel safe.

What Bluzelle brings is something different which the projects like. That is our Oracle service is built upon a decentralized database. This allows us to store historical data. The others are real time data for that time front. With historical data, you can run analytics and get better security warnings.

Also, we can update prices much faster than others. Chainlink sometimes takes 2 hours to update.

Darshan (Bluzelle admin):

Agreed, Oracles are very important. After bZx hack, the Oracles is in trend. Bluzelle is faster than Chainlink :muscle::muscle:

Q2. The rise of blockchain querying indicates the significance of
decentralized data protocol. Also Defi needs a storage database.
How will bluzelle technology be utilized in solving this and providing a hackproof Defi ecosystem?

Pavel Bains:

Currently Defi uses centralized systems because they are already there. They know with a decentralized DB like ours, we can ensure their data is censorship resistant in the event that any governing body comes in and asks to shut down. They can’t with a decentralized DB.

With the Oracles, as mentioned, security programs can be created to prevent flash loan attacks.

The growth of our network with Stakers and Validators gives further security.

Darshan (Bluzelle admin):

Thanks for the brief answer!

Q3. Is the partnership with Polkadot attracting new leads?

Pavel Bains:

Yes! I was surprised at the developer traction Polkadot is getting. Lots of good talent building on it.

As part of their Builders Program we’ve had many of the top projects reach out. We’ve announced some and have more coming.

Darshan (Bluzelle admin):

Eagerly waiting to know more about it, especially partners name.

Q4. Is there any talk between blz and any traditional cyber security companies on going? Such a amazon or Google

Pavel Bains:

As everyone is aware, working with those large companies takes time. They don’t move as fast as crypto. :grimacing:

But for the past number of months we’ve been working closely with two groups to add value to our DB and node network, and also deliver something together that benefit the blockchain ecosystem.

We’ve been making very good progress and the names are well established and credible.

Darshan (Bluzelle admin):

Whaoa, seems something big is cooking on backend. Patiently waiting for more updates!

Q5. Earlier you said that mainnet will launch on Sept 9th. Now its almost 2 months delay. Yes, there might be issues, but why cant Bluzelle just announced the launch for example Quarter 4 grace period instead of that specific date of Sept 9th? Your team always said soon. This might not go well for us the Community as we will lose confidence in Bluzelle

Pavel Bains:

Totally valid question. We were making good progress and thought we were well on our way. But as we see in blockchain, so much is experimental and sometimes things break and then you need to figure out why and then something else can happen.

Choosing an exact date may have been too aggressive and we learn from that. Giving a grace period type of answer is probably better. So we will be more mindful moving forward.

Darshan (Bluzelle admin):

Q6 : Do I understand correctly that we have the ability to use the Cosmos, Ethereum, Polkadot and Bluzelle mainnet at the same time?

Pavel Bains:

Not entirely.

Off the bat we will be bridged to Ethereum and Cosmos. Polkadot we will still need to integrate. That is next on the list.

We also plan to give community developers the ability to build more bridges for Bluzelle to other chains.

Darshan (Bluzelle admin):

Interesting, the concept of bridge makes these things very easier.

Q7 : Why did you choose to be the first to build on Cosmos. This is asking for problems, now you are ironing bugs out for others

Pavel Bains:

Cosmos/Tendermint has the best consensus engine at that time. We saw the traction it had and determined it was the best underlying tech. We still think it is. Using the latest version has yielded some obstacles, but thats part of blockchain. We can see all the bumps ETH 2.0 is having.

Darshan (Bluzelle admin):

Yeha, Cosmos is best in my eyes. It was a great decision to move onto Cosmos

Q8 : A lot of us in the Community did asked whether we can convert our BNT tokens back to BLZ token in the staking but we can only do this during Mainnet. Is there a possibility of having an option to do the conversion should Mainnet is still delayed again?

Pavel Bains:

This is something that we are now thinking about. Earlier we thought we were close to Mainnet launch. Now with this note I’m going to re-visit what can be done.

Darshan (Bluzelle admin):

That would be great!

It’s time fot Community’s Questions, I’m now unmuting the chat.

Pavel Bains, you can start answering questions that you like :)

Segment II — Live questions from Telegram Community

Q1. so when roughly time frame for mainnet?

Pavel Bains:

I would say in the next 30 days. But I wont give a specific date until we have it all tested and working and can then do a proper countdown and know we can lunch it live in 1 week.

Q2. Hi Pavel, Do you have plans to create a data marketplace similar to what ocean protocol is doing?

Pavel Bains:

Not for 2021. Our focus is pushing Bluzelle Oracles as the first killer app on top of Bluzelle DB. At the same time launch larger developer programs so they can build on Bluzelle.

Q3. Why do you think other storage coins have done so poorly despite the success of Filecoin?

Pavel Bains:

Filecoin had a lot of anticipation for 3 years. It was natural for them to take some of the spotlight from everyone else. Now with BTC back on top, and ALTS taking a break, everyone corrects. But Decentralized Storage is now on everyones mind for Web 3, so the next ALT push will be driven with Decentralized Storage.

Q4. Does Bluzelle intend to work with non blockchain companies to bring them into the decentralised data space. Is the demand for such a service?

Pavel Bains:

They are still not ready. We are just now getting big companies to understand bitcoin. So using decentralized tech is still new to them. We keep in contact with some. But to focus a lot of our efforts on them would be waste of resources. Let’s focus on the crypto projects first and the big companies I talked about earlier who are into doing something together.

Q5. Do you intend to work with the gaming industry. I feel this would be huge in 2021?

Pavel Bains:

I dont think gaming is big in 2021. I came from the space and keep in contact with many gaming studios. They are making a lot of money in the traditional world. I see them integrating blockchain in 2022/2023.

Q6. Hello Pavel Bains. I looked at the history of this project, and i have questions:

(1) About Bluzelle’s partnerships with: (2018) ICON, QTUM, Wanchain, Quadrant Protocol; Swipe, Phanasma Chain…etc.. (2020) Matic; Elrond; Polkadot; Tomochain;… etc…. It all looks like a “subscriber exchange” (how two “bloggers” decided to advertise each other’s accounts) Please show at least one working result [news/links/proof], where you did something together, and it works now? I saw the past news about the partnerships. But i did not see even one action after the conclusion of the partnership. I think it’s logical to ask about this. Because otherwise, it just looks like a subscriber exchange & nothing more.

(2) When updates happen to third-party systems (Ubuntu, Cosmos), then you have problems as time shows now. How will you guys solve this in the future? Indeed, at the moment it turns out that your platform will not be stable.. Why did you move away from the original idea, build your Ecosystem? And not integrate into another? Don’t you think that due to this integration, Bluzelle has become dependent on others? Bluzelle is no longer positioning itself as a standalone platform. You are now addicted to Cosmos. What will you do if these platforms do not notify you next time and you are again not ready to change?

(3) Why don’t you enter the American exchange? You had 2 years, but I don’t see more than one American exchange. Does your company not have the ability to do this due to legal problems?

(4) You positioned yourself as an platform for IoT, Games. What are the successes? Who are your customers, developers, companies? Are there names, at least one or more, please?

(5) Who is from the non-cryptoindustry, which companies are cooperating with you?

(6) You’ve had good price growth this summer. Have you been able to turn the resulting profit into new opportunities for the company? What exactly has been done?

Pavel Bains:

(1) 2018 projects change and go different ways. Lots has evolved since. 2020 Projects we just announced. With Matic we have a developer program going. With Polkadot the integration is happening now. Others are waiting for the Oracles v1 to be ready to test next month. Lots of value being created.

(2) Once we have the mainnet out with this current version of Cosmos, we will be good on our own. When Cosmos releases a new version, we dont have to upgrade to it. We can do so after we have tested it fully while we run our own mainnet. Only when fully confident do we need to change.

(3) Coinbase chooses who they list. We are on the radar. We are already on the best non US exchanges. And the rest of the world drives the majority of volume, not just the US.

(4) That was in 2019, had some tests with companies but those are NDA and we discovered too early for them. Thats why we remain focused on crypto projects. And I’ve said before, non blockchain companies are still a year or so away. We’ve learned and adapted.

(5) We cannot name the companies we are speaking with right now. NDA.

(6) We have been able to secure some more talent and make plans for how to grow the ecosystem. The big area we need to futher develop is the developer community.

Staking groups and other wallets are all being developed for integration and support.

Great questions.