Web 3.0 decentralized platform Bluzelle has announced a strategic partnership with blockchain platform TomoChain.
The partnership will provide the PoS blockchain platform with reliable real-time price oracles. Such real-time prices will provide TomoChain with the means to offer better Defi services to developers.
According to the official blog post, TomoChain comprises a wide range of dApps and DeFi protocols, all designed to be user-friendly and privacy-centered. TomoX, for example, is focused on allowing developers to create and launch a DEX (decentralized exchange) platform in only a few simple steps. Furthermore, TomoX is gearing to become the fastest DEX provider in the crypto space. TomoDEX is also the first DEX created by the TomoX protocol. The DEX platform currently supports a wide range of cryptocurrencies.
Bluzelle, on the other hand, is focused on being the one-stop-shop for all things Web 3.0 with its reliable and decentralized oracles. According to Bluzelle, ensuring quality price feeds for DeFi protocols is a major goal. The Web 3.0 decentralized platform furthermore links on-chain data with off-chain feeds from decentralized sources. On-chain data can also be stored on BluzelleDB, thus enhancing scalability on the blockchain.
— Bluzelle (@BluzelleHQ) September 23, 2020
Benefits of the partnership
Partnering with Bluzelle holds a lot of advantages for the entire TomoChain ecosystem. It will furnish TomoDEX with reliable, secure, quality, and decentralized price feeds and also a more holistic data solution for developers on TomoChain.
Speaking on the announcement, TomoChain CBDO Kyn Chaturvedi pointed out that Bluzelle has been setting the pace for decentralized oracles in recent times. Chaturvedi added that their proposed oracle solution will prove to be advantageous to TomoChain. He furthermore disclosed that he is personally pleased by the integration and the “innovative ways this could be used.”
Bluzelle and TomoChain are quite alike in their goals for DeFi. They aim to improve scalability, privacy, and security for decentralized applications (dApps).
Pavel Bains, CEO of Bluzelle, also disclosed that he is excited by the partnership. He furthermore stated, “TomoChain is one of the long-standing blockchains, always responsive and adaptive to customer needs.”.
Together, both teams will strive to ensure global adoption of dApps and DeFi protocols.
About TomoChain and Bluzelle
Well-known for its advanced PoS voting consensus, TomoChain is employed commercially by several companies. The blockchain platform boasts of being focused on driving awareness and subsequent adoption of blockchain technology. It looks to solve blockchain issues with no loss in both security and privacy.
Bluzelle, on the other hand, wants to be the one-stop-shop for Web 3.0 data. Built on Cosmos, the oracle platform boasts of carrying out about 10,000 transactions per second (TPS).
Find out more about TomoChain on the Altcoin Buzz YouTube channel.