Beldex is a leading privacy-based ecosystem consisting of decentralized privacy-first applications that include BChat, BelNet, Beldex Browser, the Beldex Privacy Protocol, and the Beldex Bridge.
The Beldex project is committed to improving your online privacy BDX is a privacy currency and privacy-preserving utility in DApps. For privacy lovers, Beldex is the one-stop destination for everything from private messages to private transactions.
In this article, we will discuss:
What is Beldex (BDX)?
Beldex emerged in 2018, in a specific circumstance, where it had already started to establish the knowledge and use of cryptocurrencies, from investors, cryptocurrency enthusiasts, and is now trying to reach even consumers. The reason that keeps the Beldex project alive is the ecosystem that promises to be the most private with high-level security for the users of the platform. To expand this theory into stocks, Beldex created a decentralized application that gives all aspects the broad power to lead to absolute privacy of traders and the protection of their data of any kind.
Beldex is running on a cryptographic note protocol that includes a Masternode network as a fundamental tool for carrying out complicated transactions with many more features than simple nodes. Masternodes are the trend for new cryptocurrency futures and, as something new in this market, Beldex’s platform to achieve all this ideology has its native cryptocurrency, called BDX, to make all transactions happen.
How does Beldex (BDX) work?
Beldex's goal is to make the transaction safer, simpler and faster, with the privacy issue fully resolved. Different resources combine to create an ecosystem that seeks excellence from its own community and a solutions-oriented mindset to bring out the best version of it every time.
Several aspects to provide privacy were built for the decentralized applications of digital use of the platform. A messaging app was one of them, which gave the possibility for people to send text messages in a secure environment. In addition, Beldex has secured IP location with BelNet, a P2P VPN service, as well as with the Beldex browser, to avoid disruptive advertisements and any indication of user's online activities. Beldex Wallet and Beldex Bridge keep transactions secret and make it possible to connect with other bridges to use different cryptocurrencies on other blockchains.
secure masternodes
Masternodes are the foundation of the Beldex network. Masternodes are full nodes that store the entire copy of the blockchain, validate each transaction and help secure the network. The greater the number of masternodes, the stronger the network. A large number of Beldex masternode holders are members of its community, while Beldex has also partnered with Evonodes shared masternode pools for passive staking.
BDX is a low satoshi masternode encryption and therefore has a very low entry or blocking threshold to set up a masternode.
Truly Private Transactions
Beldex coin transactions are based on the improvisations of the cryptonote protocol. A one-of-many proof (RingCT) is used to obfuscate the sender, while stealth addresses are used to protect the identity of the recipient. Beldex RingCT uses 10-transator inputs and outputs. Thus, the original input and output can be verified as a whole, however, the sender's input and output remain confidential. Ring signatures, on the other hand, lock the key image associated with the transaction, thus allowing a transaction to be validated without the sender's private key.
Privacy coins employ a variety of privacy-preserving techniques to anonymize transactions, but struggle with scalability. Beldex currency employs innovative methods such as POS to solve scalability issues and achieve truly private transactions.
From PoW to PoS
The consensus algorithm called Proof-of-Work is originally used for the confirmation of transactions and this is what is generally used from cryptocurrencies. The problem starts when we start talking about the energy that is needed to consume when the math equation is getting more complicated to validate any transaction.
Beldex, without turning a blind eye to a situation that raises the environmental problem as a dramatic consequence that follows the popularity and acceptance of cryptocurrencies, intends to change the PoW algorithm to PoS (Proof-of-Stake). Automatically, the electricity needed to make the same transactions work is less and the proportion of hardware requirements remains the same, in a changing network size, and this, of course, does not fail to provide additional rewards for each validation process. And this is the result of thinking more ecologically than others.
Other privacy-focused products from Beldex
Beldex is developing several dApps in its ecosystem with the aim of providing users with a decentralized and privacy-focused experience.
- Chat – BChat is an anonymous and decentralized private messenger developed by the Beldex team. Encrypted messaging app allows users to efficiently protect their messages and any associated metadata from third parties.
- BelNet – Beldex also has a private, decentralized peer-to-peer (P2P) virtual private network (VPN) dubbed BelNet. The app will allow users to freely browse the internet while masking their identity using secure Beldex masternodes.
- Beldex Browser – Internet users often face the problem of unsolicited ads that slow down their activities. Beldex Private Web Browser helps users get rid of annoying ads by making their traffic anonymous. The app will be released in the second quarter of 2022.
Beldex Wallet
desktop wallet
Beldex desktop wallet is compatible with Windows and Linux. Beldex desktop crypto wallet allows you to send, receive, hold and bet BDX on masternodes. You can also connect this to your own node and masternode.
Mobile Wallet
Beldex Mobile Wallet is a crypto wallet app currently supported on Android phones. With the mobile wallet, you can send and receive BDX anywhere, anytime. It will soon be released for the iOS platform.
BDX Token
The anonymity required by Beldex comprises the use of its native currency BDX. The BDX token is used to benefit platform users to protect their privacy in the Beldex ecosystem. From privacy in messages, transactions, browser usage and even IP location, BDX currency is the means to that end.
Beldex currency features
Beldex aims to provide its users with features that aim to improve their security and anonymity.
- Private Transactions – Using the RingCT protocol, transactions on Beldex are private as they mask the sender and recipient address as well as the amount involved in the transaction.
- Security – The presence of masternodes on the network that validate transactions helps to protect funds and prevent any double-spend attempts and provides an opportunity for the community to bet on BDX.
- Untraceable – The team claims that all transactions on Beldex are virtually untraceable as it combines RingCT, stealth address and cryptonight algorithm.
You can earn BDX coins using Masternode
You can earn rewards with masternode staking. Currently, the network is supported by masternodes and miners. Once the full POS is implemented, the network will be 100% supported by masternodes. Staking and POS Masternode allow validators to secure the network while incentivizing them. Anyone can bet on BDX and become a validator by setting up a dedicated masternode or betting on Beldex's shared masternode pools.
While setting up a Beldex masternode is simple, masternode pools make it even simpler by taking over the task of setting up a masternode for you. You just need to create an account and bet BDX to validate and receive rewards. Masternodes are full nodes that store the entire copy of the blockchain. Thus, by betting on Beldex masternodes, you will be an integral part of maintaining the security of the Beldex network.
Beldex Price Forecast (BDX)
Beldex price is predicted to reach a high level of $0.1717 throughout 2022.
Already in 2023 according to our crypto price prediction index, Beldex (BDX) may reach a maximum level of $0.4249, with the average trading price of $0.3160.
In 2025 according to our crypto price prediction index, BDX is expected to cross an average price level of $0.512. The minimum expected value of the Beldex price at the end of the current year should be $0.4730. Furthermore, BDX can reach a maximum price level of $0.522.
Where to buy BDX token?
BDX cryptocurrency can be traded on the following exchanges:
- HitBTC
- MEXC
- Hotbit
- Bitcoin
Conclusion
Beldex is on a mission to continue the development of the cryptocurrency industry. The company aims to ensure that the coin remains liquid and coin holders are rewarded within the Beldex user base. In essence, the project occupies an important niche in the crypto field like privacy and anonymity, something that many users are interested in and is undoubtedly one of the key concepts behind the entire industry.
