Beldex (BDX) is a privacy-focused blockchain and Web3 ecosystem, forked from Monero in 2018. It now runs a proof-of-stake network secured by masternodes. Its native token pays for ecosystem services, is locked as masternode collateral, and is minted as block rewards.
Core technology and blockchain architecture
Beldex was modified from the Monero codebase to resist ASIC and GPU mining, add masternodes, and move to proof of stake. Its privacy stack combines ring signatures and stealth addresses, with RingCT using Pedersen commitments and range proofs to hide transaction amounts. The whitepaper states that the project plans to adopt Bulletproofs to reduce the data nodes must store and transmit.
The roadmap also cites zero-knowledge proofs, Fully Homomorphic Encryption (FHE) and cross-chain interoperability as development areas. A Confidential Assets testnet was reported to launch on 6 October 2026. Confidential smart contracts are therefore a stated direction, not a live feature.
Ecosystem applications
- BChat: A messenger that onion-routes messages through masternodes and does not require a phone number or email.
- BelNet: A decentralized VPN that masks IP addresses and metadata.
- Beldex Browser: A privacy browser that blocks trackers and ads by default.
- Beldex Bridge: Connects the native chain with Binance Smart Chain.
- Beldex Name Service (BNS): Domain registration that burns BDX on purchase.
Primary use cases and real-world applications
BDX is the medium of exchange within the ecosystem and pays for privacy services, including BNS domain purchases. Beldex reported more than 5,500 BNS domains registered in Q1 2026, according to a KuCoin report. These adoption figures come from project and partner communications and have not been independently verified.
Who is behind Beldex and where is it based?
Founders and key people. Afanddy B. Hushni is listed as founder and chairman on CoinMarketCap and Coins.ph. Crunchbase lists Kim Beldex as co-founder and CEO, but CoinStats notes that this appears to be a brand-style or pseudonymous name and that sources do not confirm his legal identity. Crunchbase lists Niyas N. as CTO, while CryptoRank lists Codeman-Crypto in that role, and CoinStats describes that CTO as pseudonymous. Sources do not agree on the full team, and no complete roster is public.
Founding year and history. PitchBook, Dealroom, Seekers and CB Insights date the project to 2018. Tracxn and Coinbase give earlier conceptualization dates. The network moved from proof of work to proof of stake through the Bucephalus hard fork on 10 December 2021. Sources disagree on the mainnet launch date, with dates ranging from September 2018 to March 2019.
Country and legal entity. Crunchbase lists the legal name as Beldex International Inc., and Crunchbase, PitchBook, CB Insights and Dealroom place the company in Victoria, Mahé, Seychelles. Malaysia appears as a secondary location in IQ.wiki and in some leadership profiles. The MiCA whitepaper names Beldex International Foundation, a Panama entity registered on 14 March 2023. The sources do not explain how the Seychelles company and the Panama foundation relate.
Tokenomics
Total supply is 9,939,718,245 BDX, and circulating supply is 7,871,592,198 BDX. The token is priced at $0.07181, down 0.86% over 24 hours, with a market cap of $565.97M (rank #134). CoinDesk lists max supply as unlimited because block emission continues.
Allocation. Secondary sources list ecosystem development at 40%, seed and VC at 10%, marketing at 10%, and team at 6%. Beldex's own 2022 tokenomics update uses different percentages, so the two classifications are not reconciled in the sources. Each quarter, 130,680,000 BDX is released from the Ecosystem Development Wallet. The 30 June 2026 release was the eighteenth, leaving 1,607,760,000 BDX in that wallet.
Emission and burns. The whitepaper gives a constant 6.5 BDX per block, while Beldex's masternode page cites 10 BDX per block. Burns come from Flash transaction fees and BNS purchases. Beldex reported 5 million BDX burned as of late 2025, and KuCoin reported over 10 million burned in Q1 2026. Cube Exchange concludes that BDX is not unambiguously deflationary because block rewards keep issuing new tokens.
Consensus mechanism and network security
Beldex uses a proof-of-stake consensus called BeldexPoS. A masternode is selected at random every 30 seconds to produce a block. Eleven other masternodes validate it, and at least seven must sign for approval. The block producer receives 10% of the reward and masternodes receive 90%.
Running a masternode requires locking 10,000 BDX as collateral for a minimum of 86,400 blocks (about 30 days). Reported masternode counts vary by source and date, and a third-party guide dated 17 August 2026 reported 3,142 masternodes. The roadmap plans a move to Verifiable Random Function (VRF) consensus in Q2 to Q4 2026. Beldex reported an independent security audit by Dakara Research.
Key partnerships and ecosystem integrations
- Exchanges and DEXs: Listings include Uniswap (BDX/WETH, 23 December 2025), BingX Spot (BDX-BSC, 6 January 2026), Quickex Swap (26 February 2026), and Coins.ph and Gate.io.
- Wallets: BDX and BDX-BSC went live on SWFT Wallet and OmniBridge on 3 September 2026.
- Funding: An $8 million round was announced on 20 August 2026, led by Sigma Capital. Crypto.news and Invezz report total capital raised of $36 million. DWF Labs invested about $25 million in February 2023.
- Incident: On 12 June 2026, the team identified unauthorized minting of BDX-BSC tokens caused by a bridge issue. The native chain was reported as unaffected. The team deployed a new contract and token, $BELDEX, and Kraken delisted legacy BDX, closing withdrawals on 25 September 2026.
Competitive advantages and unique value proposition
Beldex positions itself as a privacy ecosystem rather than a single-purpose privacy coin. Its products cover payments, messaging (BChat), network routing (BelNet), browsing and cross-chain transfers. A masternode layer carries network services as well as validation, and one token pays for most of these services.
Current development activity and roadmap highlights
The Obscura hard fork went live on 7 December 2025, with Bulletproof++ as its main upgrade. The roadmap lists a BNS Marketplace launch in May 2026, a $1 million grants program for privacy applications in September 2026, and a native cross-chain bridge listed for 7 August 2026. Funds from the $8 million round are earmarked for FHE research, quantum-resistant consensus, and cross-chain liquidity bridges to Ethereum, Solana and Base.