Bluzelle Prepares for August 8th Mainnet Launch When Staking Starts

By Guest Author
Published July 30, 2020 Updated July 30, 2020
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Bluzelle Prepares for August 8th Mainnet Launch When Staking Starts

By Guest Author
Published July 30, 2020 Updated July 30, 2020

August 8 has been set as the day when Bluzelle’s mainnet will launch, introducing staking as a prelude to a second phase of the mainet that will follow a month later. The eagerly-awaited launch of the mainet will pave the way for a decentralized data network supporting a censorship-resistant ecosystem of dApps. On August 8, staking will commence, giving BLZ holders the opportunity to pledge their tokens and earn rewards in return. News of the launch arrives at a time when interest in distributed storage and web3 protocols is at an all-time high.

Bluzelle Prepares for Primetime

Bluzelle is an idea whose time has come. In an era of centralized censorship, hacks, and data reselling, demand for an alternative internet based around self-ownership of data is high. Up until now, this web3 narrative has been hampered by a lack of production-ready networks that can deliver the vision. Bluzelle’s launch com es within weeks of BitTorrent File System launching its own mainnet, and shortly before Filecoin comes on stream. As a result, the stage is set for an array of distributed storage solutions that can meet the demand for dApp data, without reliance on centralized chokepoints.

“Given the tremendous support from our community and validator network, we wanted them to begin earning rewards sooner than later,” said Bluzelle CEO Pavel Bains, adding: “Phase 1 is the soft mainnet so we can make that all happen.”

Stakers and Validators Called Into Action

The Bluzelle staking platform will be at the heart of the action in the first phase of the mainnet’s debut, forming a portal where validators and delegators can register and create a staking address. Once their account has been set up, BLZ stakers can deposit tokens and then watch their balance grow as rewards are disbursed every 24 hours. The staking program has been structured to give early adopters the lion’s share of the rewards, ensuring that demand for staking will be strong in the early stages. Up to 25% APY is promised initially for Bluzelle stakers.

Bluzelle’s blockchain and data distribution system, which has been the product of intensive development work over the past two years, will form the backbone of a distributed storage solution for decentralized applications (dApps). Up until now, these have been largely reliant on centralized storage, diminishing their value proposition and hampering their attempts at providing true censorship resistance.

Anchored by a 10,000 TPS blockchain secured by dPoS, Bluzelle enables developers to obtain multi-region coverage for the same cost as traditional cloud storage. Data will be distributed and stored on user-controlled servers around the world, ensuring low latency and guaranteeing access to data. If Bluzelle can provide a user experience to rival that of centralized data services, it will be able to position itself as a valuable tool in the long march towards web3, while hastening the departure from traditional storage networks.

From Swarm of Duty to Phase 1

Bluzelle’s mainnet launch follows a successful incentivized testnet program known as Swarm of Duty. During the three-week event, which took place in June, participants were able to familiarize themselves with Tendermint and Cosmos, whose blockchain architecture will play a critical role in Bluzelle’s dPoS network. The staking program also had an unexpected benefit after a flaw was discovered in the latest release of Tendermint. The Bluzelle team that identified the error disclosed its findings to Tendermint, allowing the issue to be patched before it was deployed in a live environment. Now, all eyes will be on Bluzelle as the first phase of its mainnet launches, presenting a path to dApp scaling, powered by an army of community-controlled servers, before phase two commences on September 8.


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