Beldex Research Labs, the research arm of the Beldex Project, and Geometry Labs, a DeFi and cryptography R&D platform, have announced a strategic partnership to enhance the Beldex blockchain, the Coin Journal learned from a press release.
The partnership aims to accommodate and optimize the Beldex blockchain as more and more applications are being developed on it.
Developing much-needed privacy tools
The partnership between the organizations will look at privacy-related issues in blockchain and make it possible to develop much needed privacy tools to help people keep their data secure online.
Beldex aims to create a private, autonomous platform that helps advance free speech and an open peer-to-peer economy.
DApps and the current blockchains developed on them are free but lack the privacy needed to keep gatekeepers away.
elimination of middlemen
Due to the fact that there are no middlemen to handle and process the data, there is greater security and privacy, and the data itself remains encrypted. To maintain this status quo, the network must end censorship.
reduce entry barriers
The biggest threat to blockchain censorship is network node centralization, which occurs when data storage requirements increase and nodes become costly to run.
Beldex aims to simplify network participation by reducing entry barriers. They intend to achieve this by implementing protocols that take up the least amount of space and through network sharding.
Mr. Afandi bin Hushni, President of Beldex, commented:
We are excited to introduce cutting-edge privacy and scaling solutions by collaborating with the brightest minds researching cryptography and privacy to expand our network to an EVM-compatible chain.
Enough anonymity introduction
At the moment, the Beldex network uses the RingCity (Ring Confidential Transaction) protocol to anonymize the identities of the sender and recipient.
The size of a ring is 11, making the Beldex network sufficiently anonymous to ensure that transactions cannot be linked.
However, transactions become cryptographically heavy when temptations are introduced for each one.
Increase TPS by reducing proof size
To reduce the size of proofs and transactions, the Beldex team will examine existing RingCity protocols and present a succinctly proven system without a reliable setup.
This will help in increasing the number of transactions per second (TPS) of the network and will create a basis for adding smart contract capabilities.