The market rebounded today. On the 19th, we released which value coins have entered the value trough. We mentioned 8 projects that are now almost all rising. The three major AI vehicles AGIX, FET, and OCEAN have risen by more than 20% in one day, and AKT has also risen by more than 30%, so it is still very accurate, but the market may not get better soon, and we still need to be careful. Today we continue to share projects in the 200-300 range. Today we will talk about a project in the privacy Dapp field called Beldex. The current market value is 240 million US dollars, ranking 240+. It is also a relatively old project. The current unlocking volume is also quite large, but this market performance has been very average. The bull market in 21 years has only increased by 3 times at most. You must know that BTC has increased 20 times from the lowest to the highest.
So there should be no one hyping this project, but at least the project team did not give up and has been persisting. In 2024, they released a new version of the white paper and have also developed several products.
About Belltex
Belldex is a privacy-first ecosystem focused on privacy-first decentralized applications (dApps). The concept for the project was developed in 2017, the ICO was announced in spring 2018, and the exchange went live in late 2019.
Beltex is a Proof-of-Stake (PoS) coin with masternodes acting as block proposers and validators.
Originally a fork of Monero, BellDex integrates the PrivateSend privacy protocol from DASH, and several key privacy features such as ViewKey from ZEC to enhance the original privacy, and has its own configurable privacy technology.
The core advantages of Belltex include:
- Untraceable Origin - Like Monero uses RingCT, Bellex also uses the RingCT network type, but its RingCT is larger in size.
- Confidential Transactions - Transactions are completely anonymous and private.
- Airdrop - If an individual stakes a certain amount of cryptocurrency in their wallet, they will receive a specific amount of the same cryptocurrency as a reward.
BDX runs on the BelDex decentralized blockchain for performing secure and anonymous peer-to-peer (P2P) transactions, while the ecosystem supports secure and confidential dApps including: BChat, BelNet, BelDex Browser, BelDex Privacy Protocol, and BelDex Bridge.
Product Series
1. Wallet
Beltex wallets are the gateway into private decentralized transactions and communications. They allow users to hold private keys, securely store or mine Beltex, and conduct peer-to-peer transactions.
Wallet Features-Multi-Signature
Multi-signature is a wallet-level feature. It is not possible to tell from the blockchain which transactions were created using multi-signature.
There are no multi-signature addresses in Beldex. The address structure does not care how the underlying private spend keys are created.
In Beldex, multi-signature supports M out of N participants, making any combination of signers possible.
Once the multi-signature wallet is set up, each participant will eventually know the public address and private viewing key. This is necessary for participants to identify and interpret transactions that they should jointly sign.
2. BNS
BNS is Beldex Name System, a decentralized domain name system built on the Beldex blockchain network. BNS names and domains serve as a private and human-readable alternative to BChat IDs, Beldex wallet addresses, and BelNet addresses.
3. Decentralized messaging app (B-Chat)
B-Chat is an anonymous messaging application that uses BelNet to route messages. Modern applications like WhatsApp and Signal already implement end-to-end encrypted messaging. In particular, the Signal protocol [CGCD+17] has been shown to provide a higher degree of privacy protection than ever before. However, end-to-end encryption does not provide complete privacy because data is ultimately stored in centralized data centers. Centralized data centers are vulnerable to attacks due to their centralized nature. They also lack protection against government policies and intervention.
B-Chat introduces message routing capabilities through BelNet, a decentralized virtual private network (dVPN). Decentralized VPN BelNet ensures that messages are routed to their destination via the shortest possible node distance and encrypts the message at each hop.
A sender can send messages through the Beldex secure masternode even if the receiver is online or offline. When the receiver is online, the message packet is routed through the masternode. The secure masternode acts as a routing channel when user A wants to send a message to user B. The masternode determines the shortest distance the message can travel on the routing channel. To do this, the starting node (the message originating node) obtains the information of the target node from the distributed decentralized directory stored by the masternode. It then establishes a secure route while checking the available bandwidth and traffic congestion. It then transmits the message, which is encrypted once for each node hop, and each message packet requires at least three node hops. The message is received by the target node and forwarded to user B. When user B is offline, the nearest node or the target node stores the message and relays it again when it comes online.
4.BelNet
BelNet is a private decentralized VPN that runs on the Beldex Routing Protocol (BRP). BRP optimizes communication between nodes, minimizing the load on secure master nodes as traffic passes through the network.
BRP adopts a packet switching routing model and supports various Internet protocols. Its distributed hash table is maintained by the master node, listing the various nodes on the network, based on node restrictions and authorization mechanisms. The management master node is a group of randomly assigned nodes used to verify new incoming nodes.
New nodes must meet bandwidth and collateral requirements to gain relay or exit node status on BelNet. Management nodes periodically redistribute stakes to each node and verify that each node has sufficient bandwidth. If any node fails to meet the bandwidth requirements, they will be penalized by the management nodes and their rewards will be reduced until they provide the required bandwidth. Significant collateral capital also prevents nodes from behaving dishonestly in the network.
Token Economy
The token name is BDX, the total number of tokens is 9,925,237,219, the current circulation is 6,447,857,219, the circulation rate is 64%, the current exchange rate is 0.037 US dollars, the peak time is $0.8723 (2021-01-02), the token distribution has not been found.
Finally, let me summarize this project. I have talked about privacy projects before, such as Monero or Dash. I personally am not very optimistic about privacy, but I have also said that privacy still has a certain role, especially in the area of money laundering. Then this project is a fork of Monero, and now it focuses on making privacy-related dapps, which is quite interesting, such as privacy-related social chat APPs. Currently, the chat software we often use, such as WeChat and Tencent, can see your chat records. We have also heard that DingTalk can check your chats, and there are news about people who have opened DingTalk, so there is actually still demand for this.
As for the project, I can only say that the performance of the currency price is very confusing. The lowest to the highest point of a bull market is only 3 times, and this is when the market value is so small, so obviously no one is willing to pull up the market. So how far can it go this time? I think it may be 2-3 times at most. The good thing is that this ratio is still quite stable and it has not been falling all the time.
