Decentralized exchanges are the future, but the technology isn’t ready yet to support the transactions. While big exchanges are working on the technology, Beldex, an Estonia based exchange, has found a middle ground with so-called “Hybrid exchange”.
A hybrid cryptocurrency exchange is a special exchange that combines the technology of centralized exchange with a decentralized one. It is the closest thing currently in the market to a decentralized exchange.
One of the basic requirements for a decentralized or a hybrid exchange that they need to be pegged to token or have their own token. And Beldex is no exception.
One of the unique selling points Beldex is offering to its users is complete privacy while exchanging a token. To achieve this, Beldex is launching its own privacy token, Beldex Coin.
Beldex Coin is a privacy token based on the CryptoNote protocol to achieve 100% privacy. CryptoNote protocol is the same protocol on which Monero (XMR) is running. CryptoNote protocol, uses ring signatures, stealth addresses, and RingCT, to give users the ability to sign transactions and obfuscate amounts while maintaining plausible deniability.
Beldex Coin is mineable and ASIC resistant. The difficulty target of Beldex Coin is 120 seconds. Similar to Monero, the token uses CryptoNite algorithm as its hashing algorithm.
Although Beldex Coin looks like Monero from the top (it was originally started as a fork of Monero), Beldex has expanded its privacy offering by integrating privacy elements of both ZCash and DASH.
Beldex Exchange is still in an Alpha phase and will be updating with more details as the project progresses.
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