Beldex (BDX)
Beldex is a cryptocurrency exchange platform focused on providing security and privacy for its users. It employs its native token, Beldex (BDX), to facilitate transactions, allowing both public and private exchanges. This flexibility supports various levels of traceability.
Overview of Beldex
The Beldex platform functions as a secure, privacy-focused cryptocurrency exchange. It supports anonymous trading through the BDX token, which is based on Monero, enabling peer-to-peer transactions while maintaining user privacy. As a decentralized exchange (DEX), Beldex allows users to trade cryptocurrencies without an intermediary or central authority.
| Ticker | BDX |
| Category | Cryptocurrency |
| Website | https://beldex.io/ |
| @BeldexCoin | |
| Telegram | beldexcoin |
Beldex offers a variety of trading options, including spot trading, margin trading, futures markets, and algorithmic trading. The platform also provides a Beldex wallet for Android users to manage their digital assets. The integration of BDX into retail and e-commerce aims to expand its utility within a crypto ecosystem that seeks to enhance transactional freedom.
BDX token
Tokenomics
The Beldex Token (BDX) is designed as the native token for the Beldex platform, emphasizing privacy and security. The total supply of BDX is 9.9 billion, divided into eight categories for specific purposes, including ecosystem development, marketing, seed and venture capital allocation, legal operations, early adopter rewards, team allocation, and exchange liquidity. For example, in 2022, a portion of the BDX supply was released to support ecosystem development.
Beldex proof of stake
In the Beldex Proof of Stake (PoS) system, users can stake BDX on nodes to participate in block validation on the network. Nodes are selected at random every 30 seconds to produce a block, which is then validated by a quorum of 11 other nodes. If a majority of the quorum attests to the block's authenticity, it is added to the network.
Master nodes
Beldex employs a network of master nodes, which are rewarded for propagating the blockchain and processing transactions. Master nodes require a collateral of Beldex, creating a market-based resistance to Sybil attacks. The block reward system awards 10% to the node that constructs the block and 90% to a master node. Master node staking requires a minimum amount of 10,000 BDX.
B-Chat and BelNet
B-Chat
B-Chat is an anonymous messaging application launched on June 29, 2022. It uses BelNet, a decentralized Virtual Private Network (dVPN), to route messages securely. Unlike traditional messaging apps, B-Chat encrypts messages at each hop, ensuring they are not stored on centralized data centers. Beldex Secure Masternodes facilitate message delivery even when the receiver is offline.
BelNet
BelNet is a private decentralized VPN that utilizes the Beldex Routing Protocol (BRP) for efficient communication between nodes. It is governed by masternodes that ensure new nodes meet bandwidth and staking requirements. BelNet supports a wide range of internet protocols and uses a packet switching routing model for efficient node communication.
Flash transactions and coin burning
Flash transactions
Flash transactions on the Beldex blockchain allow for rapid confirmation of transactions within seconds, using a second layer architecture similar to Bitcoin's Lightning Network. Masternodes confirm the authenticity of transactions by securing key images associated with unspent transaction outputs (UTXOs). This system prevents double-spending attempts.
Coin burning
Beldex employs a coin-burning mechanism to control inflation. Fees from flash transactions are burned to stabilize the market value of BDX. This helps maintain sustainable price discovery in the market.
Bucephalus hard fork
On November 30, 2021, the Bucephalus hard fork upgraded the Beldex blockchain from Proof of Work (PoW) to a more energy-efficient Proof of Stake (PoS) consensus. This transition improved network scalability and security while reducing environmental impact. The upgrade also increased block creation speeds and rewards for master nodes, enhancing ecosystem adaptability.
Team members and advisors
The Beldex team includes:
- Afanddy B. Hushni: Chairman
- Kim Beldex: Chief Executive Officer and Co-Founder
- Codeman-Crypto(cc): Chief Technology Officer
- Ziau: Chief Marketing Officer
- Sanada Yukimura: Blockchain Architect
Advisors
- Allard Dijk
- Dr. Mitchell Kraiwec-Thayer
- Dr. Dominique Schroder
Partners
Exchange partners
Beldex collaborates with several exchange partners, including Gate.io, MEXC Global, P2B, HitBTC, LetsExchange, SimpleSwap, StealthEX, COINSBIT, HOTBIT, BuyUcoin, and Bilaxy.
Masternode partners
Masternode partners include MNO, MasternodeBuzz, nodehub.io, MYCOINTAINER, PerfectNodes, Pecunia Platform, and GETBLOCK.
Roadmap
2021 milestones
- Q1: Wallets
- Q2: Binance Smart Chain Bridge
- Q3: PoS Testing
- Q4: BUCEPHALUS
2022 ecosystem development
- Q1: Wallet Release
- Q2: B-Chat Alpha Release
- Q3: Ecosystem Phase I
- Q4: Ecosystem Phase II
2023 EVM integration
- Q1: Ecosystem Phase III
- Q2: Ecosystem Phase IV
- Q3: EVM Integration Phase I
- Q4: EVM Integration Phase II
Product updates
In 2023, Beldex introduced updates to B-Chat and BelNet, focusing on improved usability and security. New features like group messaging in B-Chat and increased bandwidth for BelNet were added. In early 2024, Beldex launched a privacy-focused browser integrating BelNet for anonymous browsing.
Tokenomics adjustments
Beldex adjusted its token-burning mechanism in 2024 to stabilize BDX's market value. A portion of block rewards was allocated to a community governance fund for BDX holders to vote on network proposals.
Ecosystem expansion
Throughout 2023, Beldex expanded its ecosystem through partnerships with DeFi platforms and NFT projects, aiming to broaden BDX's use cases. Collaborations with privacy service providers further integrated BDX into decentralized VPN services and other privacy-focused applications.
Roadmap developments
By late 2023, Beldex completed Ethereum Virtual Machine (EVM) integration, enabling smart contract functionality. The 2024 roadmap includes expanding the masternode network, enhancing decentralized governance, and additional product updates.