Beldex BDX

About Beldex (BDX)

Beldex is a Proof-of-Stake (PoS) coin with masternodes as block proposers and validators. Beldex protocol core advantages are as follows: • Untraceable Roots - Beldex uses RingCT network type but with a higher size of the Ring. • Confidential Transactions - Transactions are completely unidentifiable and secure, ensuring user confidentiality. • Airdrop - If an individual stakes a certain amount of crypto in the wallet they get a specific number of rewards in terms of the same coins. Confidentiality in communication and transactions was often overlooked as a luxury in the past. However, there is now a heightened awareness among individuals regarding their confidentiality as global digitization continues to expand. Blockchain technology is considered a potential solution to this challenge. Early adopters of cryptocurrency believed that blockchain transactions were inherently untraceable. However, this misconception was quickly dispelled with the rise of blockchain analysis firms that provide tools for tracing transactions. This issue extends to Bitcoin transactions as well [Nak08]. Most cryptocurrency transactions do not conceal the transaction amounts, sender or receiver addresses, or their balances. Cryptocurrencies such as Monero [AHJ17] and other confidentiality focused coins have sought to address the issue of confidentiality. These blockchains were met with issues of scalability in proof-of-work consensus [MSBL+19]. For example, if there are no decentralized wallets, the user may have to rely on a centralized wallet to store their coins. An institution with sufficient information about the inputs and outputs of a wallet can perform chainalysis to find information pertaining to a transaction, also known as an EABE attack1 . Beldex proposes a unique, viable solution to the problems of confidential computation, scalability, and ecosystem.