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Bluzelle 2.0 to Usher in  Decentralized Creator Economy
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Bluzelle 2.0 to Usher in Decentralized Creator Economy

Despite blockchain’s immense potential to decentralize many activities, it is surprisingly supported by many centralized players that wield incredible power.

One area where this reality is glaringly evident is NFTs. Besides for the challenges this new creator trend is encountering in terms of security holes and patchy infrastructure, most enthusiasts and users don’t understand the troublesome nature of NFT storage.

Most NFTs are stored on centralized servers and cloud providers, such as Amazon Web Services (AMZN) or Google Cloud (GOOGL). This effectively means that one of the chief advantages behind decentralization isn’t a core component of the NFT arena. That could potentially result in a single point of failure: if the storage provider is breached or encounters a system malfunction, an NFT stored in this manner could be lost forever.

To remedy this obvious flaw in existing NFT storage architectures, Bluzelle has expanded its offerings beyond its traditional database services to include a decentralized storage mechanism. By replicating NFT files across validator nodes, Bluzelle can ensure that NFT creations benefit from all the attributes of decentralization while avoiding the pitfalls of centralized storage. (To learn more about other cryptocurrency stocks, check out the TipRanks Cryptocurrency Stock Comparison tool)

Bluzelle 2.0 Rolls Out the Red Carpet to NFTs

While NFTs are currently more focused on art, Bluzelle sees immense potential in the creator economy. From the organization’s perspective, NFTs will play an important role in securing intellectual property, making it vital to decentralize the creative process and, more importantly, file management and storage.

Bluzelle 2.0, the newest iteration of the service, transforms the initial data layer solution for dApp developers into a decentralized storage provider. The rollout of this new version accompanies significant developments that have taken place since the outset of the year. Bluzelle has introduced multiple modules designed to add value to the network covering staking activities, cross-chain bridges, mainnet databases, and blockchain oracles, helping deliver greater interoperability.

Version 2.0 will be compatible with Ethereum and Binance Smart Chain (BSC), Polygon, and Fantom. However, the accompanying NFT infrastructure showcases the network’s significant strength in the storage realm. The decentralization of storage will ensure 100% uptime and access to NFTs hosted on the network while making them tamper-proof and more secure.

The forthcoming upgrades to the network expected over the following months will also be attractive for DeFi developers who require high network transaction throughput, a greater degree of cross-chain communication, oracles for pulling and pushing data, and decentralized data storage.

For the creator economy, Bluzelle’s leap represents a major step towards actual decentralization, helping fulfill blockchain’s vision of ending dependence on gatekeepers, rent-seekers, and centralized institutions that exert vast control over many industries.

Disclosure: TipRanks’ writers held no position in any of the stocks mentioned in this article at the time of publication.

Disclaimer: The information contained herein is for informational purposes only. Nothing in this article should be taken as a solicitation to purchase or sell securities.

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