Dvision Network to Integrate Bluzelle Price Feeds and Decentralized DB Solutions!
See what benefits this partnership will bring
The Dvision Network is a new VR content ecosystem that utilizes blockchain technology. It aspires to provide the best user experience by utilizing the advantageous features of Blockchain and VR technologies, and by creating an unprecedented and inclusive virtual ecosystem for businesses and designers.
The Dvision Network is thrilled to announce the establishment of a multifaceted cooperation with Bluzelle, a decentralized data storage layer for web 3.0. The Dvision Network will be utilizing decentralized oracles on top of Bluzelle’s database to enable the smooth and accurate calculation of transaction fees occurring in the VR-Market. Furthermore, the Dvision Network is planning to leverage backend storage services for every NFT created, which will be achieved through an industry-standard “persistence seal”, thereby certifying every NFT using Bluezelle URLs.
Dvision and Bluzelle: Omnidirectional Cooperation
Bluzelle Decentralized Oracles
Provided the fact that all types of transaction settlements occur inside of the Dvision Network’s smart contracts, it is essential that those smart contracts have access to the most reliable sources of data. This data is essentially powered by the oracles. In fact, the entire transaction process is fully automated by the utilization of smart contracts. The only thing needed to make everything work smoothly is access to verifiable data, and here the oracles come on to the scene.
Like all automated processes, our smart contracts, and hence the Dvision Network, rely on a supply of accurate data. If the oracle pushes inaccurate data to the smart contracts, the money will be sent to the wrong place and there won’t be anything that anyone can do about it. In order to secure the most reliable and high-quality data, the Dvision Network will be utilizing Bluzelle Oracles. These use a 5 step process that votes in and out data from reputable places and runs statistical analysis on prior prices to ensure accuracy and validity. Then, they can arrive at an accurate value that can be trusted and stored.
Bluzelle Oracles are built on top of the Bluzelle platform’s own decentralized database solution to prevent centralization and ensure interoperability across different chains. Bluzelle Oracles use data verified by multiple independent sources. Moreover, it stores historical data, purported to quickly identify any data points that may appear suspicious, reinforcing the reliability of its data. The data processed by Bluzelle Oracles are updated every 5 minutes, which guarantees maximum accuracy in calculating transaction fees incurred inside of the VR-Market.
How do Bluzelle Oracles operate?
Every validator on Bluzelle provides data storage and also acts as a data feeder for the Oracle service. This makes their oracles a decentralized service that also indexes data efficiently. The Oracles retrieve pricing data from arbitrary sources, e.g. Binance, assign weights to each source, and provide a strongly validated value for any data points needed.
Validators are the actual price feeders that retrieve values from diverse data sources and then bring them into the single, weighted-average calculation by signing and casting their votes. All incoming votes from validators are combined into a single value based on the weights the voting validators used to produce a final value.
Bluzelle NFT Solution
A current problem is where the NFTs are actually stored. Thus far the data and files related to NFTs are on centralized servers like AWS or MongoDB. Now if those services go down, the NFTs could be lost. The ownership deed is still on the blockchain, but what about the content? Bluzelle will be working with Dvision to explore solutions to solve this for their customers. More details will come later.
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 serves as an “Airbnb of databases,” with developers paying for storage space and read/write access to the decentralized database. Secure, tamper-proof, censorship-proof, and highly scalable, Bluzelle is in the process of developing data feeds and oracles for the next phase of its evolution to help bring about a faster and more secure internet.
