Beldex — A crypto Analysis
Introduction
Beldex (BDX) is a cryptocurrency that enables privacy-preserving transactions on its network. It uses a combination of ring signatures, stealth addresses, and bulletproofs to hide the sender, receiver, and amount of each transaction. Beldex also offers a platform for developing and using decentralized applications (dApps) that require privacy features, such as private messaging, browsing, networking, etc. Beldex aims to solve the problems of scalability and privacy in the blockchain space by using masternodes and bridges.
Beldex has a total supply of 9.9 billion BDX coins and a circulating supply of 4 billion BDX coins5. It can be traded on various exchanges such as Gate.io, Bitbns, Finexbox etc16. As of today (08 Mar 2023), Beldex’s price is $0.0403 USD and its market cap is $161.98 million USD5.
We shall do an in-depth analysis of Beldex covering various factors.
Team of Developers, Advisors, and Partners:
Beldex’s team of developers consists of experienced blockchain professionals with a diverse set of skills. The top management and board of the platform include Afanddy Bin Hushni who serves as the present Chairman, Syed Farook, who is the CEO and co-founder, and Sharhan Muhseen, who is the CTO and co-founder. The team is also supported by a group of advisors who bring expertise in various areas, such as marketing, finance, and legal.
The platform is also supported by a range of advisors who bring expertise in various areas, such as marketing, finance, and legal. Notable advisors include Michael Terpin, who is the founder and CEO of Transform Group, a blockchain advisory firm, and Jason Hung, who is the co-founder of TimeBox, a blockchain-based data storage platform.
Beldex has partnered with some notable entities in the blockchain space, such as DWF Labs and Geometry Labs. DWF Labs is a Web3 investment firm that supports Beldex by committing $25 M for the research and development of the Beldex network and ecosystem. DWF Labs also acts as the primary supporter and counselor of the Beldex project, aiding in marketing activities to improve the ecosystem participants and the reach of the project. Geometry Labs is a blockchain development company that helps Beldex scale its network by vetting its current RingCT protocol and introducing a succinct proving system without a trusted setup to reduce proof and transaction size.
Roadmap for 2023
- Q1 — ECOSYSTEM PHASE III
- Beldex Bridge for Tezos
- Beldex Privacy Protocol on Tezos
- Continue Research on EVM and Sidechains
- BelNet Launch on Testnet
- Beldex Bridge UI/UX Revamp - Q2 — ECOSYSTEM PHASE IV
- BelNet Beta Release
- Beldex Browser Beta Release
- Research on Sharing Large Files using BChat
- Development Plan for EVM Integration - Q3 — EVM INTEGRATION PHASE I
- Phase I Development of EVM Integration - Q4 — EVM INTEGRATION PHASE II
- Phase II Development of EVM Integration
- EVM Launch on Testnet
Community:
The Beldex community is over half a million strong with members from across several countries and continents. Beldex has an active and engaged community of users, supporters, and influencers. The platform has a presence on various social media channels, including Twitter, Telegram, and Reddit. The community regularly interacts with the platform’s team and provides feedback on its development roadmap and features.
Beldex’s community engagement and development activity can be measured by various indicators such as social media followers, website traffic, code commits, events participation etc. CoinGecko tracks some of these metrics and shows that Beldex has a score of 3/5 for developer activity (based on GitHub stars), a score of 3/5 for community activity (based on Reddit subscribers), and a score of 4/5 for public interest (based on Google searches).
Beldex also welcomes contributions from anyone who wants to be part of its ecosystem, such as developers, content creators, marketers, designers, translators, advisors, and consultants. Anyone can join their Telegram group or Discord channel to get involved with their community.
Sentiment:
The current sentiment for Beldex (BDX) is mostly neutral or bearish. For example, CoinCodex predicts that the value of BDX will drop by -5.76% and reach $ 0.035465 by March 10, 2023. It also shows that the majority of technical indicators are showing sell signals and that the Fear & Greed Index is showing 47 (Neutral). DigitalCoinPrice forecasts that the value of BDX will increase by 209.68%, reaching $0.13 by end of 2025. However, it also indicates that the current sentiment is Neutral and that the Fear & Greed Index is reading 0 (Extreme Fear)23. The Economic Times reports that BDX price is up by 0.11% today (07 Mar 2023), but does not provide any further analysis or commentary4.
From an emotional standpoint, Beldex has garnered positive sentiment from its community and supporters. The platform’s vision of enhancing online privacy and security resonates with many users who value anonymity and security in their online transactions. Additionally, the platform’s active community and engagement with its users have helped to foster a positive sentiment around the platform.
Growth:
Beldex has shown mixed results in terms of its price growth over the years. For example, CoinCodex reports that Beldex had its worst performing year in 2022 when the price dropped by -56.64% from $ 0.097379 to $ 0.0422211. It also shows that the average yearly growth of Beldex over the last 5 years is -19.94% per year. However, Coinpedia predicted that Beldex would reach $1 by 2022 due to its privacy features and ecosystem expansion.
Beldex’s market capitalization and trading volume have also fluctuated over time. According to CoinMarketCap, Beldex’s current market cap is $161,982,695 USD and ranks #229 among all cryptocurrencies. Its current trading volume is $2,774,274 USD and it can be traded across 15 different markets. DigitalCoinPrice shows that Beldex’s market cap and volume have increased by 0.12% and 0.25% respectively in the last 24 hours.
As of March 8, 2023, the price of Beldex is $0.0638 USD, with a market cap of $31,567,120 USD.
As of March 8, 2023, the price of Beldex (BDX) is $0.226 USD, representing a 24-hour increase of 7.1% and a market capitalization of $29,738,480 USD. The all-time high of Beldex was reached on January 10, 2018, when the price hit $0.684 USD.
Overall, Beldex has shown steady growth since its launch in 2018. The platform’s technical features, team of developers, and partnerships have helped to foster a positive sentiment around the platform. The platform’s vision of enhancing online privacy and security has resonated with its community, and its steady growth in business volume and price indicate a promising future for the platform.
Reputation:
Beldex has a solid reputation in the cryptocurrency community. The platform has received positive reviews and ratings from various cryptocurrency rating agencies. For example, Beldex has a rating of A- from Crypto Briefing, which is a leading cryptocurrency research firm. Additionally, the platform has undergone audits to ensure the security and integrity of its codebase. In 2019, Beldex underwent a security audit by Quarkslab, a leading cybersecurity firm, which found no critical vulnerabilities in the platform’s code
Technology
Beldex’s technology is one of its strongest selling points. The platform’s privacy protocol, known as the “Beldex Privacy Protocol” (BPP), is designed to provide users with enhanced privacy and security. The BPP is a combination of different privacy-focused technologies, including ring signatures, stealth addresses, and confidential transactions. This protocol ensures that transactions on the Beldex blockchain are private and cannot be traced back to individual users.
Beldex is also the first Sharia’h compliant exchange catering to Islamic traders and crypto-enthusiasts all over the world.
Beldex’s use of masternodes also adds an extra layer of security to the platform. Masternodes are nodes that perform specialized tasks on the network, such as verifying transactions and maintaining the blockchain. In return for their services, masternode operators are rewarded with BDX coins. The use of masternodes ensures that the network remains secure and provides an additional incentive for users to support the platform.
Beldex also has plans to launch a decentralized exchange (DEX) in the near future. The Beldex DEX will allow users to trade cryptocurrencies without the need for a centralized exchange. The use of a DEX further enhances the privacy and security of transactions on the Beldex platform, as users can trade directly with each other without the need for a third party.
Beldex’s vision of enhancing online privacy and security is a timely one, given the increasing concerns around data privacy and security. As more users become aware of the risks associated with sharing personal data online, demand for privacy-focused solutions like Beldex is likely to increase. This bodes well for the future growth of the platform.
Beldex DApps Under Development
BChat is a private messaging application used to chat with others. Here the encrypted data will pass through the nodes on the Beldex Blockchain. Only the sender and receiver can see the actual message; others can’t get any information about it. The public key and a private key are initiated during the account creation. The public key is used to share with others for identifying your account. The private key is used to restore your account. The data will be stored on decentralised nodes in encrypted form, so no one can alter or read it.
BelNet is a dVPN service used to mask your IP address. Even a centralised VPN can mask your IP. But think, when hackers get access to these centralised VPN networks, they can very well see your IP. You will start to lose your privacy. In BelNet, your traffic will be routed through the decentralised nodes in the Beldex network. Furthermore, it is encrypted.
Beldex Browser helps to get rid of ad-related issues. Whenever we begin to browse the internet, targeted ads follow us around. However, the Beldex browser doesn’t track or save your browsing data. So to secure your information, Beldex Browser helps you by blocking cookies, Javascript, and metadata.
Competition:
Beldex’s main competition in the privacy-focused cryptocurrency market comes from other privacy-focused coins such as Monero, Zcash, and Dash. Monero is one of the most well-known privacy coins, with a market capitalization of over $5 billion. Zcash is another privacy coin with a strong market presence, and it also offers users the option of choosing between shielded and unshielded transactions. Dash, while not solely focused on privacy, offers users the option of using its PrivateSend feature for increased privacy. This makes it difficult to link inputs and outputs of a transaction, thus hiding the origin and destination of funds. PrivateSend also uses masternodes, which are special nodes that facilitate mixing and verify transactions. PrivateSend divides your transaction inputs into standard denominations (e.g. 0.01 BDX, 0.1 BDX, 1 BDX and 10 BDX) and sends requests to masternodes to create mixed outputs.
Adoption:
Beldex has gained adoption in a few different industries, including e-commerce and online payments.
Beldex has partnered with e-commerce platforms like Shopping Cart Elite, which allows BDX to be used as a payment method. In addition, Beldex has also partnered with blockchain-based remittance platform, Remitano, to expand the adoption of the cryptocurrency.
Some other partners as of today are:
Outlets: MokumBooze is Amsterdam’s one and only moonshine. WP KIT are an IT Solutions provider. Spetsnaz Security International, Ltd. is 100% independent private security company based in London
Wallets: PTPWallet is a Canadian-based company since 2014, Beldex wallet.
Exchanges and Trading: Letsexchange, Swapika, Coinsbit, MEXC Global, Coinsbit, Gate.io, Hotbit.io, HITBTC, Bitcoiva, p2pb2b.
Business Services: Ai Contently (Marketing, Web development etc.)
However, Beldex’s adoption is still relatively limited when compared to other cryptocurrencies. The platform will need to continue to expand its user base and build partnerships in different industries to drive adoption and achieve long-term growth.
Marketing strategy:
Beldex’s marketing strategy has largely focused on building its community through social media channels and events. The platform has an active presence on Twitter, Telegram, and Reddit, and regularly engages with its community through these channels. Beldex has also hosted events and webinars to educate users about the platform and build awareness.
While Beldex’s community-building efforts have been effective, the platform may need to expand its marketing efforts to drive further growth. This could include more targeted marketing campaigns, partnerships with influencers, and increased engagement with mainstream media outlets.
Regulatory landscape:
The regulatory landscape for cryptocurrencies, including privacy-focused coins like Beldex, is complex and constantly evolving. While Beldex has not faced any major regulatory hurdles to date, the platform will need to stay up-to-date with regulatory changes and adapt its strategy accordingly.
In particular, Beldex may face challenges in jurisdictions that are hostile to cryptocurrencies or those that require stricter KYC compliance measures. Beldex does mention that it has the right to seek legal action against, to prevent or investigate a suspected illegal activity or fraud, violation of its policies, and to protect the safety of person and property. It also states that its products and services are not intended for the use of children.
The platform will need to navigate these regulatory hurdles effectively to continue to grow and gain adoption.
Conclusion
Beldex is a unique platform in the cryptocurrency space, with its privacy protocol, masternodes, and upcoming DEX making it a strong contender in the privacy-focused cryptocurrency market. The platform’s experienced management team, partnerships, and active community provide a solid foundation for future growth. The positive sentiment around the platform, coupled with its solid reputation and steady growth, make Beldex a cryptocurrency to watch in the coming years.
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