AMA sessions promote transparency and user engagement in addition to educating our users about the latest updates from the team. Our AMA with Uquid turned out to be constructive as we were able to answer a number of questions raised by our users. Below is the gist of our AMA with Uquid.
The following thought-provoking questions were raised by @Uquidcard on twitter.
- Why is a partnership with an e-commerce platform important? What motivated this collaboration, and what specific goals or objectives do you aim to achieve together?
Partnering with an e-commerce platform is crucial for our crypto project for several reasons.
a. Expanding Adoption: One of our primary motivations for collaborating with an e-commerce platform is to enhance the adoption and use of our cryptocurrency. E-commerce platforms typically have a large user base, and by integrating @beldexcoin, we can expose it to a broader audience, potentially increasing the number of people who use and transact with $BDX.
b. Facilitating Transactions: E-commerce platforms serve as a hub for a wide range of transactions. By partnering with them, we aim to provide an efficient, secure, and cost-effective means of payment for both customers and merchants. This will make it easier for customers to shop and for merchants to accept $BDX as a payment method.
c. Creating a Seamless Experience: Our collaboration with an e-commerce platform like @Uquidcard will enable a seamless and user-friendly experience. Users will be able to make purchases using $BDX without the need for complex conversions or additional fees, making it an attractive option for online shopping.
d. Building Trust: Partnering with a reputable e-commerce platform can enhance the trust and credibility of our cryptocurrency. Users often trust established platforms, and by being associated with them, we can convey the message that $BDX is a reliable and legitimate means of exchange.
e. Market Expansion: By partnering with @Uquidcard, we can tap into new markets and demographics. This could lead to increased global reach and diversify our user base, which is important for long-term sustainability and growth.
2. What advantages does Uquid offer Beldex users? How will this partnership benefit Beldex and its users?
The partnership between Uquid and Beldex offers several advantages and benefits for Beldex users.
Increased adoption, accessibility and convenience in using $BDX, financial inclusion of the $BDX community (being able to buy and sell products with $BDX in both well-to-do and marginalized countries), global reach, user satisfaction and long term sustainability are some of the reasons.
3. What are the products that one can buy using $BDX on Uquid?
There are a number of products that users can buy with $BDX on Uquid. These include everything listed on the @Uquidcard platform such as mobile top-ups, clothing and apparel, jewellery, toys, electronics, household merchandise, games etc. through the use of gift cards. Users would have to purchase the respective gift cards first using $BDX and then utilize them to purchase the aforementioned products.
4. Partnerships often involve technological integration and strategic cooperation. What steps have been taken or are planned to ensure a smooth and successful operation of Beldex with the Uquid platform’s infrastructure and user experience?
To ensure a seamless operation, our teams worked closely to integrate Beldex into the Uquid platform. This involved technical collaboration to establish the necessary connections and protocols for transferring Beldex tokens securely and efficiently.
Before the integration went live, @Uquidcard rigorously tested and quality assurance the efficacy of transactions on their platform. This included both unit testing and end-to-end testing to identify and resolve any technical issues or vulnerabilities that could impact the user experience.
Our joint efforts are focused on creating user-friendly interfaces that enable Beldex users to easily navigate and utilize the Uquid platform. On the security front, ensuring the security of user assets and compliance with relevant regulations is a top priority. Both Beldex and Uquid are committed to implementing robust security measures to safeguard user funds and data while adhering to regulatory requirements.
5. From what we gather, Beldex emphasizes the importance to long term sustainability. However, short term goals are equally important. What are your goals for the near term?
Indeed. Short term goals are as equally important as long term ones. Our short term goals include the BNS hardfork and the subsequent launch of the much-awaited Beldex Name System. In addition to this, we will also be commencing the phase I of the EVM Integration onto the Beldex chain by the end of Q4 2023.
In the long term, Beldex is looking forward to providing our users with a comprehensive private ecosystem that can help them in their day-to-day activities right from messaging to browsing and real-world utilities.
***
Winners from the AMA, who asked the best questions, were rewarded. Here are some of the questions answered by the Beldex team.
Question by: Bryan Vlahovic
- Tell us about Beldex Name Service (BNS). How does it work? What is the purpose of BNS and Why did you decide to switch from Proof of Work to Proof of Stake? How has this contributed to you? #Beldex #Uquid
Beldex Name Service (BNS) is a decentralized domain name system (DNS) designed to provide a secure and privacy-centric way to interact with Beldex blockchain-based dApps — namely BChat, BelNet, and the Beldex Wallet. It operates on the Beldex blockchain, which is a privacy-focused blockchain and cryptocurrency platform.
How BNS Works: BNS works similarly to traditional DNS but with added privacy and security features. It allows users to map human-readable domain names (like www.example.com) to Beldex blockchain addresses, BChat IDs and BelNet addresses. BNS ensures privacy by not revealing the ownership of these addresses, while offering users the ability to easily identify their friend’s wallet, transact anonymously and maintain a secure link to a specific blockchain address. This system aims to offer a decentralized alternative to traditional domain name registrars.
Question by: tokyo
2. How serious does @BeldexCoin take its security? Have security audits been done?
Security is of paramount in blockchain based systems and cryptocurrencies due to handling transactions and sensitive data. The Beldex blockchain provides default privacy, ensuring that no personal information of the user is compromised. However, peer review is of essential importance in the crypto space. For this reason, Beldex had the core modules of its codebased reviewed by one of the leading blockchain audit firms in the industry, namely @Certik. You can find the details of the audit report here: https://skynet.certik.com/projects/beldex
Question by: Saint maxwell
3. What unique features distinguish @BeldexCoin from similar projects? #Beldex & #Uquid
Beldex is a privacy focused cryptocurrency, however, unlike other similar privacy projects, Beldex is building an ecosystem of interoperable decentralized applications such as BChat, BelNet, the Beldex Browser, the Beldex privacy protocol etc.
Beldex also emphasizes real-world utilities and mass adoption. For this reason, Beldex has partnered with several payment platforms and now with an e-commerce platform like @uquidcard where users can utilize $BDX to purchase real-world products.
We are one of the few projects to explore a privacy-enhanced smart contract platform. Our research wing, Beldex Research Labs, released a proof of concept EVM for blockchain networks based on the cryptonote protocol.
Crypto projects need sustainability and adaptability and Beldex has embraced both these attributes, which distinguishes @Beldexcoin from other privacy-based projects.
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