BELDEX The New Cryptocurrency | News & Features
The world of cryptocurrency is regularly changing and new developments are been made consistently. With the cryptocurrencies gaining popularity, new cryptocurrencies enter the market with solutions for prevailing issues. One such entity that came into the picture is privacy coin. Protection coins are a progression on the conventional cryptocurrencies and have been increasing considerable enthusiasm for the crypto world.
A portion of the key issues looked by the crypto world are privacy, liquidity, and ease of use. In spite of the fact that the estimation of cryptocurrencies takes off up once in a while, their reasonable use once a day is very limited. This cleared route for the incorporation of utility debit cards that can be used with the cryptocurrencies in exchange for fiat currencies.
This helped in solving the liquidity issue. These debit cards guaranteed that cryptocurrencies can be spent for any normal obligations. Also, these debit cards are used to carry virtual currencies which offer more security than a normal debit card.
What is Beldex Ecosystem?
The Beldex ecosystem includes the taxi service named Bel Trips, and a delivery service named Bel Needs for delivery even to far-flung local places. There’s also the Beldex Debit Card allows coin holders to spend their balances even with merchants outside the network. Together, all these form the Beldex ecosystem.
Coin Utility and Privacy Technology
Let’s take a look at the technology behind Beldex Coin: optional sender privacy is protected using Hexagonal Ring Xtensive Transactional Signatures, where the senders’ public keys forming the ring are mixed together, obfuscating the original sender. It utilizes the Schnorr algorithm using the Ed25519 curve. Transaction amounts themselves are also protected by ring confidential transactions, which morph the figures by multiplying them with a random number generator function. It uses Pedersen commitment for this process.
How Does Beldex Coin Work?
We know more insights about Beldex Coin, which is the security-centered coin discharged by the Beldex team than we think about the Beldex Exchange.
That token depends on the CryptoNight evidence of work hash algorithm, which depends on the CryptoNote protocol. In different sources on the web, the organization claims their coin depends on the RingXT calculation.
As a privacy-focused token, Beldex Coin has benefits like Monero. You can’t see the number of coins a client holds in his or her wallet, for instance, and you can’t see any client’s transaction history on the blockchain.
On the Beldex Coin network, all hubs have equal power and control. There are no nodes that have more impact than different nodes. The currency isn’t created, maintained, or represented by any one person or company. It’s a decentralized currency across a decentralized network.
Beldex will also launch a debit card for use with its Beldex Coin
As specified above, Beldex has appended ridiculous valuations to its currency. The company claims the value of their token is expected to grow by 10,281% by the end of 2020. It’s unclear where they got that valuation.
Who’s Behind Beldex?
Beldex is in development by a Kuala Lumpur, Malaysia-based team.
We have no additional information about the team or their experience.
Beldex Conclusion :
There’s a lot of irregular information about the Beldex ecosystem online. First, the company claims to be launching the world’s first hybrid exchange that combines the best features of centralized and decentralized exchanges. In reality, there are already plenty of hybrid exchanges available today – so it’s unclear why Beldex believes it’s the first exchange to do so.
The other unordinary thing about Beldex is its Beldex Coin, which they assert is a privacy-focused cryptocurrency expected to grow enormously in value over the next few years. It’s unclear where the company got its valuation from or why they expect the currency to grow in value. It’s also unclear why someone would use Beldex Coin over a better-known privacy-focused coin like Monero.
Ultimately, some questions about Beldex need to be answered. However, the coin just appeared online in April 2018, so we expect more information to emerge over the coming weeks. You can decide for yourself if it’s worth a look by visiting BeldexCoin.com.
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