What is the Bern Hard Fork?

BELDEX
4 min readNov 30, 2023

Learn about the upcoming Bern hardfork update on the Beldex chain which introduces new on-chain features.

Bern Hardfork

The Bern hardfork on the Beldex network marks a significant milestone in the evolution of the Beldex network, introducing the Beldex Naming System (BNS) feature and a corresponding burning mechanism. The decision to name the hardfork after Bern, the capital of Switzerland, is deliberate, drawing attention to the country’s robust privacy laws and aligning with the Beldex network’s commitment to privacy-focused solutions.

Bern Hardfork on the Testnet

The hardfork unfolds in two crucial phases. The first phase, already completed, involved updating the testnet binaries and implementing the hardfork on the Beldex testnet. This successful launch on November 27, 2023, at the height of 1251330, showcased the readiness of the system for the upcoming mainnet upgrade.

Version: Testnet Hardfork V18

Name of the fork: Bern

Website: https://testnet.beldex.dev/

Total BNS registered: 4

Total BDX Burned: 27471.679259207 BDX

Bern Hardfork on the Mainnet

The second phase is equally critical, focusing on deploying the hardfork binaries to update masternodes in preparation for the mainnet hardfork. The mainnet hardfork is scheduled to occur at a height of 2986890, around the first week of February, 2024. This phase ensures that the entire Beldex network is in sync with the latest upgrades and features introduced by the Bern hardfork.

The BNS feature introduced by the Bern hardfork will enable users to buy the BNS for BChat and for BelNet.

With BNS for BChat and BNS for Wallet, users can simplify their interactions within the Beldex network. No longer burdened by long and complex wallet addresses or BChat IDs, users can send and receive messages and conduct transactions in BDX using their personalized BNS names.

Moreover, the BNS for BelNet brings another dimension to the Beldex ecosystem. Users gain the ability to host private and censorship-free applications on the BelNet onion-router, further solidifying the commitment to privacy and decentralized applications.

All BNS names and domains end with the Top Level Domain extension .bdx

e.g.: https://www.beldex.bdx

BNS Fee On-Chain Burning Mechanism

The introduction of the Bern hardfork on the Beldex network not only brings forth innovative features through the Beldex Naming System (BNS) but also implements a strategic coin burning mechanism. This mechanism plays a crucial role in reshaping the tokenomics of the BDX coin, transitioning from inflationary to deflationary as the network progresses and the BNS feature gains mass adoption.

The BDX coin burning mechanism, illustrated after the Bern hardfork’s testnet integration, involves the destruction of the BDX fee used to purchase BNS names. In this case, around 25000 testnet BDX coins were burned, showcasing a commitment to reducing the total supply of BDX in circulation. This intentional reduction has positive implications for the Beldex ecosystem, creating a scarcity that often correlates with price discovery.

BNS Fee

  • 1 Year Subscription: 650 BDX
  • 2 Year Subscription: 1000 BDX
  • 5 Year Subscription: 2000 BDX
  • 10 Year Subscription: 4000 BDX
  • BNS ownership transfer fee: 50 BDX

More information on the fee structure and naming rules can be found here: https://beldexcoin.medium.com/beldex-name-service-bns-development-update-80d19e792d23

This transition from inflationary to deflationary economics is a strategic move for the Beldex network. As more users engage with BNS and utilize BDX for transactions, the overall supply of BDX diminishes. This scarcity has the potential to further reward early adopters and foster a sustainable ecosystem.

Essentially, the deflationary shift is not solely dictated by the protocol or the development team; it’s a community effort. The Bern hardfork underscores the collaborative nature of the Beldex ecosystem. Masternode operators, community members, and users all contribute to the success of the hardfork by updating their nodes, embracing BNS, and contributing to the burning mechanism. This shared commitment to progress ensures that the network evolves in a way that benefits the entire community.

For Masternode Operators

Masternode operators play a critical role in the successful implementation of the Bern hardfork. The Beldex team has outlined a meticulous process for updating masternodes. The team will initially roll out the binaries in the less than 200 masternodes run by the foundation to check for stability of the network. Once this is finalized, the team will share the binaries with masternode operators.

Masternode operators would be required to update the binaries for the hardfork to take effect. This community-driven effort ensures that the entire network remains secure, stable, and aligned with the evolving features of the Beldex chain. It is also emphasized that all masternodes need to update to the latest version of the binary in order to continue serving as a validator on the network. Notifications and reminders about the update will be shared as we progress.

In essence, the Bern hardfork represents a pivotal moment for the Beldex network, introducing features that enhance user experience, privacy, and the overall capabilities of the platform. As the community rallies around the hardfork, it not only reflects the commitment to innovation but also reinforces the collaborative nature of the Beldex ecosystem.

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BELDEX

Bulding privacy-enhanced decentralized applications with BChat, BelNet, Beldex Browser & the Beldex Privacy Protocol