Your favorite crypto news blog

Bluzelle Announces Release of Bluzelle Bridge

Other 2020/09/11 21:42 by Livine Sanchez
Bluzelle Announces Release of Bluzelle Bridge

The First Automated ETH to COSMOS Relayer in Production

📢 We are excited to release Bluzelle Bridge, the first automated ETH to Cosmos Relayer ever used in a live production environment. This relayer is fully compatible with the latest version of Tendermint/Cosmos. It is now deployed to the Bluzelle Soft Mainnet, allowing conversion from ERC20 to our native tokens in minutes and fully automated.

Why Do We Need A Bluzelle Bridge?

Bluzelle has a dual-token system. While we have our own Bluzelle Chain that is based on Cosmos, we have to maintain the ability for ERC20 BLZ tokens to be exchanged with others. There needs to be a connector that allows secure, stable, and automatic conversion of tokens between the two networks.

However, there are limited tools out there that are at early-stage. We tried the most appropriate “off-the shelf” option — Peggy. The lack of stability and compatibility means it is not safe enough to be production ready. With our ambitious Mainnet schedule, we need a production-ready relayer that can support millions of transactions across Ethereum and the Bluzelle Chain.

As more chains are built on Cosmos, many blockchains have to perform token swaps. It is usually a manual process, requiring tedious checks with a high chance of errors.

The token swap is also a one-time process (a one-way atomic swap) in many of these cases. Once their assets are moved from Ethereum to Cosmos, they are completely out of the Ethereum ecosystem, which is a big barrier in driving adoption.

We see high demand for a relayer service that can connect both ecosystems, to allow movement in both directions. These are the reasons behind the birth of Bluzelle Bridge.

How Does Bluzelle Bridge Work?

Below are the diagrams that showcase the user flow of converting between the ERC20 BLZ and the native BNT tokens.

From BLZ to BNT

From BNT to BLZ

The Bluzelle Bridge has four core features:

  • Bi-directional

It can perform exchanges between ERC20 BLZ to the BNT native token (based on Cosmos), and vice versa. This means that our network can remain in both the Ethereum & Cosmos ecosystems, allowing transactions to cross the two networks. Our users can convert between tokens at any time.

  • Fully Automated

The Bluzelle Bridge will not rely on any manual interventions. Once the user submitted a request to convert, the whole process is fully automated and you will receive your tokens in minutes.

  • Stable & Secure

The relayer is ready for production use. It has been deployed to the Bluzelle Soft Mainnet and is successfully handling the growing number of staking transactions in our system.

  • Compatible with the latest version of Tendermint/Cosmos

This is important as we are also the first chain to use their latest version.

Next Steps

Our Soft Mainnet is a great test field for the Bluzelle Bridge with more and more people participating in staking. Currently, we have opened up automatic conversion from BLZ to BNT. And we will carefully open up conversion from BNT back to BLZ when we are ready to transit to Production Mainnet.

The relayer is a core component in the Cosmos ecosystem. Bluzelle will continue to iterate the relayer based on more extensive testing and feedback from the developer community. We intend to open it up for the whole cosmos ecosystem to adopt the Bluzelle Bridge in a more mature stage.

About Bluzelle

Powered by a byzantine fault-tolerant cluster of blockchains customized specifically for database operations, Bluzelle is a decentralized database for Web3. Its advanced data delivery network promises to protect businesses from data breaches, network failures, and performance troubles. Bluzelle effectively serves as an “Airbnb of databases,” with developers paying for storage space and read/write to the decentralized database.

For more information on Bluzelle please visit: www.bluzelle.com

0 Like(s)

You should also read...

Altcoins 26/04/20 20:32 by Guest Author
How Bluzelle Uses Ethereum as a Gateway to its Scalable Platform
Since Ethereum’s launch in 2014, the ERC20 token has become far and away the most-used token standard. According to Etherscan, there are currently over 250,000 different token contracts on the Ether...
Read More
Crypto 08/06/20 16:23 by Suny Rain
Justin Sun talk about TRON 4.0
Justin Sun, who is that guy? In a few words : Justin Sun is the founder of TRON. He is really active in Twitter, mostly talking about TRON but he is still active in the developpement of the TRON p...
Read More
Altcoins 19/06/20 20:56 by Olivia Brooke
Reddit Hopes to Eventually Onboard Its Over 430 Million Monthly Users to Ethereum
One month after Reddit introduced 20 million users to two of its ERC-20 tokens, Reddit has now established that its latest mission is to onboard all of its 430 million users to Ethereum. As reported ...
Read More
Altcoins 08/02/21 15:04 by Guest Author
EthereumX – The DeFi solution for reducing gas fees, staking rewards, and lightning transactions
Decentralized finance came to the rescue for many investors in many different forms. This borderless and permissionless solution has removed intermediaries from banking services and helped people in ...
Read More
Other 17/06/21 18:47 by News BTC
An Interview with ZKSwap’s Lead Dev Alex Lee
ZKSwap has recently announced a major development in the form of the V2 launch. As the noise around the platform’s latest move continues to increase, we decided to reach out to its lead develope...
Read More