HedgeTrade, a cryptocurrency social trading platform, has partnered with Bluzelle, thus gaining access to the latter’s decentralized solution for storing, managing, and analyzing the generated data by the traders.
This will also allow the social trading platform to scale its database and guarantee maximum uptime and enhanced security.
“HedgeTrade is the first social trading platform where the interests of both professional traders and novices are aligned,” David Waslen, CEO and co-founder of HedgeTrade, said.”All users have a method of hedging risk, a way to maximize profitability, and a trusted source of blockchain-verified trading information.”
“With Bluzelle’s decentralized data storage, we’ll be able to provide our users with data security only achieved through decentralization, as well as a blockchain compatible database that is in step with our fast-evolving crypto platform.”
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Multi-support with the decentralized data platform
Though the enhancement of security is one of the key areas of benefit, the partnership will also HedgeTrade to obtain insights for further platform development and will also upgrade risk management for the traders.
“Our decentralized database solution is perfectly suited to support growing crypto platforms,” Bluzelle CEO and co-founder Pavel Bains, said.
Bluzelle is built on Cosmos blockchain and its BFT technology Tendermint. Its interoperability also allows its integration on any other blockchain.
Bains also pointed out the importance of decentralized infrastructure, citing the recent downtime of Cloudflare that resulted in a mass internet outage.
“With our globally distributed nodes that allow for mass scalability and a data network that connects to multiple blockchains, Bluzelle offers companies like HedgeTrade a decentralized data solution that goes beyond the internet as we know it,” he added.