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Beldex Research Labs, the research arm of the Beldex Project, and Geometry Labs, a DeFi and crypto R&D platform, have announced a strategic partnership to scale up the Beldex blockchain. press release.
This partnership aims to adjust and adapt the Beldex blockchain as more apps are developed on it.
Partnerships between organizations will explore issues related to blockchain privacy and enable the development of much-needed privacy tools to help people protect their data online.
Beldex’s goal is to create a private, autonomous platform that helps advance free speech and an open peer-to-peer economy.
DApps and the current blockchains built on top of them are independent but lack the necessary privacy to keep gatekeepers away.
Security and privacy are enhanced as there is no middleman handling and processing data, and the data itself remains encrypted. To maintain this status quo, the network must abolish censorship.
The biggest threat to blockchain censorship is the centralization of network nodes. This happens when data storage requirements increase and running nodes becomes expensive.
Beldex aims to make joining the network easier by lowering the barriers to entry. They implement protocols that occupy minimal space and seek to achieve this through network sharding.
Beldex Chairman Afanddy Bin Hushni commented:
We are excited to collaborate with some of the brightest minds researching cryptography and privacy to introduce cutting-edge privacy and scaling solutions by extending networks to EVM-compatible chains.
Currently, the Beldex network uses the RingCT (Ring Confidential Transactions) protocol to anonymize the identities of senders and receivers.
The ring size is 11, making the Beldex network sufficiently anonymous that transactions are not linked.
However, transactions are cryptographically heavy when decoys are introduced to each.
To reduce the size of proofs and transactions, the Beldex team will scrutinize the existing RingCT protocol and introduce a simple proof system without a trusty setup.
This helps increase the transactions per second (TPS) of the network and forms the basis for adding smart contract functionality.
