The Beldex Bern Hardfork Is Live: Introducing Beldex Name Service (BNS), Fee Burning Mechanism, & More
In the ever-evolving landscape of blockchain and cryptocurrency, hardforks play a crucial role in enhancing and upgrading existing networks. One such significant event is the Beldex Bern Hardfork, which went live at a block height of 2986890. This hardfork represents a key milestone for the Beldex ecosystem, aiming to bring about improvements in privacy, security, and overall network functionality.
Understanding Beldex
Beldex, established as a privacy-focused cryptocurrency, places a strong emphasis on the anonymity and security of its users. Built on the CryptoNote protocol, Beldex uses ring signatures and one-time stealth addresses to ensure transaction privacy, making it a preferred choice for users who prioritize confidentiality in their digital transactions.
Key Aspects of the Beldex Bern Hardfork
Cryptocurrency networks undergo hardforks for various reasons, such as fixing bugs, upgrading security features, enhancing scalability, or introducing new functionalities. The Beldex Bern Hardfork is no exception, as it seeks to address specific challenges and provide users with an improved experience.
- Beldex Name Service: The Bern Hardfork brought about significant enhancements to the blockchain network, introducing several key features to bolster its overall functionality and security. Firstly, the implementation of unique BNS (Beldex Name Service) names and domains provides users with the ability to connect with their friends on BChat, securely send and receive BDX, and host private applications on BelNet.
- BNS Registration: The second major improvement revolves around the BNS transaction speed, which has been optimized for quicker and more efficient transactions. The Bern Hardfork enhances the overall transaction capacity of the network and user experience as it allows for users to register their BNS names just by executing a simple BNS transaction.
- MNApps: A noteworthy addition is the introduction of private and decentralized domain hosting through BNS domains on BelNet. This feature enables users to host their web applications using the .bdx domain. The .bdx domain is tagged to a BelNet address which inturn is a stand-in for the IP address of the server that hosts the application. These applications are called MNApps. Users can access the MNApp only by connecting to BelNet, which routes the traffic through a minimum of 3 masternodes. This fosters a more decentralized, privacy-enhanced and censorship-resistant internet infrastructure. The utilization of BNS domains contributes to the network’s resilience and aligns with the principles of decentralization and user empowerment.
- BNS Fee Burn: Furthermore, the implementation of a fee-burning mechanism is a key economic feature introduced by the Bern Hardfork. This mechanism involves the removal or destruction of the BNS transaction fees, contributing to the overall scarcity of the native chain token, $BDX. With adoption of the BNS names & domains, more and more BNS fees are burned, and the circulating supply of $BDX decreases over time, potentially leading to a positive price discovery and reinforcing the economic sustainability of the ecosystem.
The Bern Hardfork represents a comprehensive upgrade to the Beldex network, encompassing the introduction of the BNS names & domains on-chain, fast and secure BNS transactions, decentralized domain hosting, and a unique BNS-fee burning mechanism. These features collectively contribute to the resilience, efficiency, and economic strength of the $BDX ecosystem, positioning it for continued growth and adoption within the blockchain community.
Community Impact
Cryptocurrency communities play a vital role in the success and growth of a project. The Beldex community has been eagerly anticipating the Bern Hardfork, recognizing its potential to elevate the platform to new heights. Community engagement and support are crucial during such upgrades, and the Beldex team has actively sought feedback and support from the community and masternode to ensure a smooth transition for users.
What Should Users Expect After the Bern Hardfork
The Bern Hardfork impacts all the applications that are currently live on the Beldex ecosystem. Thus, users should update their applications post the hardfork with the latest releases.
Electron Wallet:
The Electron wallet (desktop wallet) for Windows, MacOS and Linux have been updated to support the Bern Hardfork. Users are requested to update to v5.2.0 of the Electron wallet app here:
Linux:
Deb:
AppImage:
Windows:
MacOS:
BChat Desktop App:
Similarly, a new version of the BChat desktop app has been released for Windows, MacOS and Linux. Users will have to update to the latest version that supports the Bern Hardfork. The latest version of the BChat desktop app is v2.2.0. Download it here:
Linux:
Deb:
Windows:
MacOS:
LWS Web Wallet:
The LWS Web Wallet will work as usual and no updates are required. The wallet is always synchronized with the Beldex blockchain.
BChat Mobile App for Android and iOS:
An updated version of the BChat mobile app will be available on the PlayStore and iOS AppStore. A prompt should appear asking users to update to the latest version. Users are also requested to check the respective app stores for any available updates.
Official Beldex Wallet for Android and iOS:
Similarly, a mandatory update will be released for the Official Beldex Wallet on the PlayStore and AppStore. Users are requested to update the app after the anticipated hardfork event.
Registration of BNS Names & Domains
BNS names can currently be registered only on the CLI wallet. CLI stands for Command Line Interface. CLI is currently publicly available for LinuxOS. Users can download the CLI wallet package for Linux here: https://docs.beldex.io/wallets/guides/cli-linux-setup
BNS name registration on the Electron wallet will be added soon.
BNS for BChat
This allows users to chat with their friends just by using a BNS name. Users can search for BNS names instead of BChat IDs, since BNS names are tagged to the respective BChat IDs.
BNS for BelNet
BNS domains are tagged to BelNet addresses. They end with the top level domain extension .bdx (example: https://beldex.bdx). Users can host private and censorship-free MNApps using BNS domains on BelNet.
BNS for Wallet
BNS for Wallet allows users to tag their BNS names to specified wallet addresses. They can then receive BDX to their BNS names.
BNS Subscription
Users can subscribe to a BNS name & domain for 1 year, 2 years, 5 years and 10 years post which the BNS names & domains require prompt renewal.
BNS Fee
The BNS fee for 1 year, 2 years, 5 years and 10 years are as follows:
650 BDX for 1 year
1000 BDX for 2 years
2000 BDX for 5 years and
4000 BDX for 10 years
Transfer Fee
The ownership of a BNS name/domain is vested with the ‘owner wallet address’, which can be updated through a transfer of ownership transaction. A flat fee of 50 BDX is levied for each transfer.
Looking Ahead
The Beldex Bern Hardfork represents a significant step forward for the Beldex ecosystem. As the upgraded network gains traction, it is expected to attract more users seeking enhanced privacy features and improved functionality. The successful implementation of the Bern Hardfork and the private yet decentralized BNS names showcases the dedication of the Beldex team to the long-term success of Beldex as a privacy-oriented cryptocurrency.
In conclusion, the Beldex Bern Hardfork marks a pivotal moment in the cryptocurrency’s journey, demonstrating its commitment to continuous improvement and innovation in the realm of privacy-focused digital assets. As users explore the upgraded features and the community continues to grow, Beldex is poised to solidify its position as a leading player in the cryptocurrency space.
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