Recap of Community AMA on Mainnet Progress Update

This article was first published on The Blueprint by Bluzelle - Medium
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Recap of Community AMA on Mainnet Progress — 29th October

Q1 : Please help me understand oracles we have Bluzelle Link and Band oracles. What’s the difference between you all?

Pavel : The Oracle space is very important to the defi sector and then to the greater Blockchain industry later. From talking to defi projects, they dont want to rely on just 1 Oracle solution. They want 2–3. This makes them feel safe. What Bluzelle brings is something different which the projects like. That is our Oracle service is built upon a decentralized database. This allows us to store historical data. The others are real time data for that time front. With historical data, you can run analytics and get better security warnings. Also, we can update prices much faster than others. Chainlink sometimes takes 2 hours to update.

Darshan : Agreed, Oracles are very important. After bZx hack, the Oracles is in trend. Bluzelle is faster than Chainlink 💪💪

Q2. The rise of blockchain querying indicates the significance of decentralized data protocol. Also Defi needs a storage database. How will Bluzelle technology be utilized in solving this and providing a hackproof Defi ecosystem?

Pavel : Currently Defi uses centralized systems because they are already there. They know with a decentralized DB like ours, we can ensure their data is censorship resistant in the event that any governing body comes in and asks to shut down. They can’t with a decentralized DB. With the Oracles, as mentioned, security programs can be created to prevent flash loan attacks. The growth of our network with Stakers and Validators gives further security.

Darshan : Thanks for the brief answer!...

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