Gate.io AMA with Beldex-A Privacy-Enhanced Decentralized Ecosystem of Interoperable DApps

2023-12-06, 04:14

Time: Nov 28th, 2023 at 13:00 UTC
Gate.io hosted an AMA (Ask-Me-Anything) session with Shawn Gabriel, Product Specialist of Beldex in the Twitter Space.
Official Website: https://Beldex.io/
Twitter: https://twitter.com/beldexcoin
Follow Beldex on Twitter and Telegram

Guest

Shawn Gabriel — Product Specialist of Beldex

Q&A from Gate.io

1. What is Beldex, give us a short account of your project, team, where are they based and the unique features your project offers?

Shawn: Beldex is a privacy-enhanced decentralized eco of interoperable dApps such as BChat, BelNet, the Beldex Privacy Protocol and the Beldex Browser.

The team is decentralized and is in the U.S., Europe and Asia. They are experts in their respective fields of finance, technology and marketing.

Each of the dApps we build provides a way for the user to privatize their online activity. For example, BChat is a decentralized messaging application which you can use to send private messages to your friend. BelNet is a decentralized VPN service built over the Beldex blockchain. The Beldex privacy protocol is a dApp used to anonymize transactions of other blockchain assets. And the Beldex Browser is a user-centric, privacy-first browser.

Q2: How does the Beldex-Gate Exchange partnership contribute to the mainstream adoption of privacy-focused cryptocurrencies, and what steps are being taken to educate users and businesses about the benefits of privacy?

Shawn: The collaboration between Beldex and Gate Exchange serves as a beacon for mainstream adoption by providing a user-friendly, privacy-centric trading experience. Educational initiatives, including contests, tutorials, and documentations, are underway to inform users and businesses about the importance of privacy in the digital financial landscape, to foster a greater understanding and acceptance of privacy-focused cryptocurrencies.

Q3: How can a user participate in Beldex? What are the ways to contribute to the network? What can BDX be used for?

Shawn: Users can primarily participate and contribute to the network by running masternodes. In addition to this, they can participate in our weekly quiz contests on discord and other activities like engaging with the community and spreading the word about Beldex. Community members can also apply to our contributor or ambassador program and represent Beldex in International community events online and offline.

Users can primarily use BDX to make transactions, buy BNS names, stake on masternodes, pay with BDX on supported platforms and trade on exchanges like Gate.io.

Q4: How does Beldex ensure the privacy and security of user transactions within its eco, and what measures are in place to safeguard against potential vulnerabilities?

Shawn: Being open-source is always for the win. Being open source means that we can prioritize the technological aspect of our project instead of looking at it as a business that needs to be expanded. Beldex emphasizes privacy and security through its advanced privacy protocol, which employs ring signatures and stealth addresses to obfuscate transaction details. Additionally, the integration of the BNS (Beldex Name Service) on BChat enhances user privacy by enabling transactions and communication through unique, user-friendly aliases. Regular security audits, community bug bounties, and a vigilant development team further contribute to the robust security infrastructure of the Beldex eco, ensuring a secure and private environment for users.

Q5: Do you have any strong or direct competition in this space and how do you address it?

Shawn: Yes, we acknowledge competition in the privacy-based crypto space.

However, our project distinguishes itself through the development of a full-fledged private eco that ensures enhanced privacy and security. Many chains have tried to integrate the EVM or build a privacy-enhanced EVM using zero knowledge proofs and notably zk-SNARKS.

But Beldex is the first to try and integrate the EVM onto a cryptonote based chain. Beldex currently has a proof of concept EVM and will begin the first phase of the integration by Q1, 2024. We continuously strive to stay ahead of our competition through ongoing research, development, and community engagement to provide a superior privacy solution.

Q6: What do you see in the future of the project in the short term and long term? What are the major upcoming updates on the Beldex blockchain? And any upcoming partnerships you can discuss?

Shawn: The BNS hard fork and the EVM integration are the two major upcoming core updates. The BNS hardfork is already live on the Testnet and the team will be pushing the required Binaries next month in preparation for the mainnet’s fork. The hardfork is expected to go live by January, 2024. This fork doesn’t split the chain but introduces key features such as the Beldex Name Service aka the BNS. With this update, users will be able to send text messages and BDX to their friends just by using the BNS name on BChat. They can also host private applications on BelNet using the BNS domain that ends with the .bdx extension.

The second major update is the integration of EVM. This is largely still in the research phase and the team is looking to begin the first phase of integration by the first quarter of 2024.

Regarding partnerships, we are actively looking into crypto payment solutions and providing more real-world utilities for BDX.

Author: Rio Fu., Gate.io Community

*This article represents only the views of the researcher and does not constitute any investment suggestions.

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