Blockchain-driven, social trading platform HedgeTrade will reportedly be synching up with Bluzelle’s “decentralized” database network, in order to provide blockchain or distributed ledger tech (DLT)-interoperable trading tools and features to HedgeTrade’s consumer base.
Traders that use HedgeTrade are able to post predictions into a smart contract-enabled Blueprint that customers may purchase or unlock in order to gain access to them. Traders may be compensated if their Blueprint is accurate. If it’s off the mark, then users get a refund.
Bluzelle aims to serve as a “decentralized” data network that allows decentralized applications or dApps and tokenized applications to securely manage data. The Bluezelle team claims that the network is scalable and tamper-proof (data cannot be changed once committed to the database).
Bluzelle is powered by Cosmos and its (Byzantine Fault Tolerant) BFT technology Tendermint. It’s designed to be interoperable for dApps running on any blockchain network. Bluzelle aims to play a key role in supporting the development of Web 3.0, a new set of standards for the internet of the future.
As mentioned in a release shared with CI:
“By partnering with Bluzelle, HedgeTrade gains access to a decentralized solution for storing, managing and analyzing the data generated on its … social trading platform. … utilizing Bluzelle’s network ensures that HedgeTrade’s database can scale as needed, has maximum uptime, and is highly secure.”
Crypto trading platforms