Bucephalus: protection of privacy in cryptocurrency

Press release

Seychelles, December 6, 2021

Beldex will update its mainnet to the Proof-of-Stake (PoS) consensus on December 10, 2021 at block height 742421, making it the first private ecosystem to introduce POS for scaling and successfully increasing its DApps. Beldex PoS start-up partners include the Hotbit, MEXC, STEX and BTCAlpha exchanges as well as the staking platforms MyContainer, Nodehub and Evonodes.

Chairman Afanddy Bin Hushni stated, “The hard fork, known as Bucephalus, will introduce several major upgrades, including changes to block times and block rewards. The current proof-of-work + masternode chain has a 120 second block time and 2 BDX block rewards. The block time is reduced by four times while the masternode validator reward is increased by 212.5%. ”

Bucephalus is an obligatory hard fork that does not split the chain, but upgrades the existing chain to PoS consensus. “The transition to PoS has many advantages over PoW, such as improved scalability, security and decentralization,” said Sultan of Marketing. In addition, proof of its share in the Beldex chain is made possible by masternodes, a fundamental characteristic of the network. Masternodes enable the community to participate in the network while creating incentives to contribute. ”

Why is Beldex switching to PoS?

One of the reasons Beldex is switching from PoW to PoS is because PoW uses a lot of energy. Mining already has a significant impact on the environment and the Beldex team aims to reduce the network’s carbon footprint. The Beldex network is growing significantly so this transition is being made ahead of time with widespread acceptance.

Chief Technology Officer Niyas N said: “The real hard fork Bucephalus aims to make the Beldex blockchain compatible with the upcoming introduction of privacy-friendly DApps like BChat and Belnet. In addition, the upgrade enables Beldex Masternodes to act as a host for secure and decentralized messaging with BChat and at the same time support anonymous network traffic via the BelNet dVPN. ”

Highlights of the Bucephalus trick fork:

Beldex highlights many advantages for users when introducing their PoS, such as:

• Blocking time reduced by four times from 120s to 30s
• The transaction size has been reduced significantly so that more transactions can now fit in one block
• Block reward increased by five times from 2 BDX to 10 BDX
• Masternode miners will receive 62.5% of the new block reward and the remaining 37.5% will be allocated to governance.
• Instant Transaction Flash of the second layer starts

The proliferation of masternodes will result in a faster, scalable and decentralized Beldex network.

About Beldex

Beldex was founded in 2018 with the vision of providing maximum privacy for transactions. This vision has now been expanded to anonymize Beldex users’ online tracks with the secure messaging client BChat, BelNet dVPN, Beldex secure browser, Beldex secure protocol and Beldex bridge. In addition, the transition to POS consensus lays the foundation for the network to scale and build its decentralized private ecosystem.