Why Beldex is The Best Privacy Coin
Disclaimer: The text below is an advertorial article that was not written by Cryptonews.com journalists.
Cryptocoins are creating hype in our day-to-day life. These are digital currency that can be used for various purposes. When the first crypto Bitcoin launched, many people thought it was illegal to use. But later on, that changed as individuals and businesses began to adopt crypto.
Many people began to trade and invest in crypto. The awareness about crypto is spreading among people. Why are people showing interest in crypto now? Because they feel safe and secure during the crypto transaction.
Are all crypto transactions private?
Have you thought that crypto transactions are generally anonymous? No. In some cryptocoins, the transaction history will be maintained in a public ledger. So in a public ledger we can see sender and receiver address, transaction amount, and amount that we hold. Here, the people will lose their privacy.
To overcome this issue, privacy-based altcoins were created. You can transact with a privacy coin anonymously. In a privacy based blockchain, tracking is difficult. The transaction does not reveal the sender or receiver information or the transaction amount. Each privacy coin will use a different strategy to obfuscate their user's transaction.
Due to anonymity and untraceability, private coins are preferred by many people in crypto and their adoption is increasing in recent years. Beldex is one among them and known for its privacy and security. The transaction will be truly anonymous.
Strategy used in Beldex (BDX) privacy coin:
Beldex uses the best privacy protocol to secure user transactions. It uses cryptonote privacy protocol service to obfuscate the transaction. Thus, Beldex employs a combination of ring signature, ringCT, and stealth addresses.
- Ring Signature: It helps to obfuscate the sender details. The ring signature mixes up the sender details with other inputs. So the sender detail will be hidden.
- Ring CT: Ring Confidential Transactions will verify the input and output of the ring transaction while the amount being transacted will be obfuscated.
- Stealth Address: It is used to mask the receiver's identity. An integrated or stealth address can be created on the wallet and shared to the sender. The main address won’t be shown to anyone and any amount sent to the integrated address is received at the main address.
So by using this cryptonote privacy protocol, the Beldex network secures a transaction made using BDX.
Benefits of privacy coins:
- Helps to obfuscate the user’s transactions.
- Transactions in privacy coins will use different strategies to secure the user’s data.
- Transaction history will be maintained in a decentralized blockchain.
- Tracking of user’s data is virtually impossible.
Why you should use Beldex (BDX)
Crypto transactions are regarded as anonymous. When users lose their privacy on a transaction then crypto transactions become similar to bank transactions. If there is no anonymity in transactions, then any party with vested interests, such as a blockchain analysis firm, or platforms that have a huge amount of information on transactions, such as a crypto exchange, may be able to identify you.
Then, how can users feel secure while making the transaction? However, to resolve this issue, the Beldex cryptonote privacy protocol is used. Here, the users can stay safe at every transaction they do.
Beldex has the most secure privacy features. Think, what more do you need than this? Obfuscate your identity to obtain true financial freedom.