Counterparty XCP to Bluzelle BLZ Exchange

Crypto Pair Details: XCP to BLZ

Counterparty XCP

Counterparty is a platform for user-created assets on Bitcoin. It’s a protocol, set of specifications, and an API. Taken together, it allows users to create and trade assets on top of Bitcoin’s blockchain. In this way, Counterparty is similar to platforms like Waves or Ethereum. Of course, the difference is Counterparty integrates directly with Bitcoin. Therefore, it comes will all the security and reliability (and issues) that are part of the Bitcoin blockchain. This is a fairly old project. In fact, it pre-dates Ethereum with its launch in 2014. It was the original asset creation mechanism. As you’re probably aware, Counterparty has faded from prominence over the years. This is largely due to the rise of the ERC-20 token standard on Ethereum. While we’ve become used to calling blockchain assets, tokens, it doesn’t necessarily have to be the case. An asset can represent anything that has value or is rare. As a result, Counterparty steers clear of the word “token” in their marketing and documentation. They’re much more interested in digital assets of all kinds, not just currencies, securities, and utility tokens. Digital assets can be a digital marker of a physical object, an easy way to manage shares in your company, or reputation karma for a website. These are all types of assets you could create on Counterparty (or Ethereum or Waves, for that matter). Counterparty creates the set of rules, requirements, integrations, etc that are necessary for assets on the Bitcoin blockchain. It’s the infrastructure behind user-created assets in much the same way that the ERC-20 protocol sets up guidelines and standards for asset creation on Ethereum. One useful function of digital assets is as a marker of ownership or voting rights. Imagine a scenario where you issued a digital asset to each of your company’s board members in proportion to the amount of voting power held. Or if you gave your stockholders a digital asset as a marker of the amount of stock they owned. If you issued your stock asset, you could then use Counterparty’s distribution function to pay out dividends in BTC based on the amount of digital stock asset each person owned. Counterparty addresses many of the same issues as Ethereum or Waves, but on the Bitcoin blockchain. While that does come with some advantages, ultimately it is not as strong a platform for development as its competitors. It’s best suited for applications that need to interface with Bitcoin or assets that have a specific connection to the Bitcoin ecosystem.

Bluzelle BLZ

Bluzelle is a decentralized, scalable database service that aims to provide an effective data storage solution for the newly emerging blockchain ecosystem. It provides a solution to the scaling problems that developers of decentralized applications (dApps) face while using centralized infrastructure and traditional cloud-based databases. Bluzelle uses reliable ”swarm” technology, in which it stores tiny bits of data in groups of nodes or “swarms” which are distributed across the globe. Since this makes it independent of single data centres, Bluzelle’s scaling ability is limitless. Bluzelle adjusts the number of nodes and their location dynamically, reducing request time and improving overall performance. Bluzelle's swarm technology makes it extremely reliable as it redundantly stores pieces of data across the globe, eliminating a single point of failure. Since there are no data centres, Bluzelle’s resources are provided by network “producers”, who earn funds and pass on the savings to users. Bluzelle held an ICO from January to February 2018, selling 33% of its total supply of 500 million BLZ tokens and earning $19.5 million USD in the process. As of July 2018, Bluzelle has a circulating supply of about 183.02 million BLZ, with an individual price of $0.328 and consequently a market cap of around $60.25 million USD. The potential of an endlessly scalable storage service which is quick in its scaling, which is capable of storing any amount of data in a decentralized manner, is one that many investors may have an eye for. BLZ is still new and in its beginning stages, but its experienced team and excellent advisors work in its favour and are indicative of a bright future for the BLZ token. Investing in the token may not give high returns in a short period (since the cryptocurrency is so new and difficult to predict). So some more research is advised.

SOURCE: COINGECKO

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