BZEdge V5 is coming
As time is passing by we continue to work and search for the best features for our blockchain. This year’s work on bringing Ethereum Virtual Machine to our blockchain has been blocked by our consensus mechanism that we inherited from Zcash. Producing new blocks with Proof of Work is not suitable for us. We’re not saying PoW is not a way of mining new blocks, we just think it’s better for the whole world to save energy and it’s better for BZE to switch to Proof of Stake.
Improved BZE blockchain
We are planning a major upgrade in the following months. A swap will occur and users will be able to move their funds from the actual chain to a new improved chain based on Cosmos SDK.
Updates about the swap will be posted when the time comes. We will provide all the tools needed for every BZE holder to move his funds to the new chain.
Lightning fast transactions
The new blockchain will have blazing fast transactions. We’re studying the impact of 6 to 10 seconds blocks on the network and we will chose the most reliable block time.
Actual network requires around 60 seconds for a transaction to be confirmed. New blockchain will confirm transactions in just a few seconds. This means our blockchain will become 10 times faster, and that’s what we want to achieve.
Proof of Stake
The new consensus will be Proof of Stake and holders will be able to create their own validators or delegate their stake to a trusted validator. The network will rely on validators to keep the blocks rolling and secure the network.
The future of BZE depends on you and your vote. Validators and their delegators will be the ones holding the voting power on the future of the coin. Multiple teams can join and propose their own vision to the community. AlphaTeam and BetaTeam will be there to ensure there’s no malicious intent in the proposals and the community will have the final vote.
Your stake, your decision!
Organizations will be able to use our blockchain as an immutable public data storage. This is the first feature that AlphaTeam is dedicating its resources to right after the upgrade takes place.
Organizations can record data on the blockchain in two or more formats and allow users to save data on their behalf. This creates the possibility to rely on our blockchain as an immutable, transparent and public storage. Named data that can be transferred to another user within the organization and data state recording, are just a few examples of data that can be stored on the blockchain.
In simple words our blockchain could be used as a back-bone for a shipping system or a weather change tracker or an air quality tracker or an organization that records proof of ownership on assets. But it will not be limited to these examples.
One of the main reasons we are moving BZE to a new blockchain and a new technology is smart contract deployment. Decentralized Apps rely on smart contracts and we will be supporting them in the near future after the upgrade takes place.
BZEETH and BZEBSC
This goal was meant to be achieved this year but we had to delay it after reaching the conclusion that we need a big upgrade, a faster chain and Proof of Stake.
A token version of BZE will be deployed on ETH and BSC. Users will be able to swap from our native chain to BSC and ETH. This brings us closer to the “tokens world” - to the users that love interacting with a single blockchain while holding and trading multiple tokens. Our bet is that some of our users would like to keep BZE in their Metamask wallet.
Users will be incentivized to provide liquidity on Uniswap and Pancakeswap with BZE and other prizes.
We’re not limited to BSC and ETH. We target other networks as well, such as Solana or MATIC, but we will discuss about them in the future.
We should always smile and we should always have a friendly competition going on. That’s why we decided to to build simple on-chain games like: treasure hunting, dice roll or lottery. Users will be able to participate by buying tickets or finding treasures to win prizes in BZE and other coins.
We’re also searching and welcoming anyone who wants to build a game on top of our blockchain. We will be supporting them with blockchain implementations needed to run a game on-chain or on a side-chain.
All un-swapped coins on the old chain are subject of burning. When the swapping period will end, funds that were not swapped from old chain to new chain will be considered burnt.
Also, all services on the new blockchain that will require a fee will burn that fee, so the total supply of BZE will decrease when services are used.
In the future BZE blockchain will be able to communicate with other blockchains within Cosmos Hub and we plan on listing on Gravity DEX.
Feel free to engage in a discussion with us on any of our communication channels: Twitter, BitcoinTalk, Medium Publication, Reddit, Discord or Telegram.