In light of our learnings in the past few days, we have decided to limit the number of exit nodes a person can set up and choose a select few exit nodes to be added to the BelNet mobile app.
Certain exit nodes, though they claim 1 Gbps bandwidth, turn up less than 10 Mbps or 1 Mbps in speedtest results. We infer that this is due to the following reasons,
Certain VPS may be used for purposes other than BelNet exit
Shared VPS
BelNet Exit Node Terms
When setting up an exit node, we recommend that users only choose a dedicated VPS server.
A user is limited to setting up a maximum of 5 exit nodes (this is to prevent the concentration of exit nodes with a single user). Kindly set up these 5 exit nodes in different locations to increase diversity & enhance decentralization.
Exit Nodes below 1 Gbps will be removed from the BelNet mobile app to preserve quality of the exits.
Beldex Exit Node Reward Update
Exit nodes set up until the 29th of December 2022 shall be rewarded as per the existing reward schedule. Check the existing reward plan from the announcements here on Telegram & here on Discord.
Going forward, the team will identify and select 20 high performing nodes on or before the 10th of January 2023.
Only these 20 nodes will be available for community use in the BelNet mobile app.
The rest of the exit nodes (set up before the 29th of Dec, 2022) will be rewarded until the 10th of January, 2023 as per the existing reward schedule. However, after the 10th of January, 2023, these exits may not accumulate rewards. Users can have them for personal use or update the exit node’s bandwidth & spec to offer a competitive edge over other exit nodes.
Rewards for the 20 high performing exit nodes
The 20 high performing exits will be rewarded based not just on bandwidth but on a number of other factors such as CPU cores, type of VPS, uptime, and location. Thus, rewards will be dynamically assigned. More details will be provided in a follow up post.
The exit node must only be used for servicing BelNet.
The bandwidth provided must be a constant. The Beldex team will randomly perform speed tests to determine proof of bandwidth.
Exit nodes can have a maximum downtime of 24 hours, during which period the operator will be informed. If the exit node is not functional within 48 hours after it goes offline, it may not be rewarded for the current month.
Required Exit Node Details
Are exit nodes on BelNet limited to 20?
No, more exits may be added. If you believe that your exit has a good enough reason to be added to the BelNet mobile app, kindly reach out to [email protected] with the following details. These details will help us process your rewards and identify the best VPS hosting services for BelNet exit nodes.
Hosting Provider Name
Type of VPS (shared VPS or dedicated VPS)
CPU cores
Bandwidth
Location of Exit Node
Purchase receipt
Telegram ID
Discord ID
Selection of your exit node will depend on the competitive advantage it can provide over other exit nodes.
You may also use an exit node for your own personal use as they will prove to be much cheaper but highly secure than a regular VPN service.
Future of Exit Nodes on BelNet
We will provide a world map of all the live exit nodes on BelNet
Exit node rewards will be automated on-chain
We will provide the option to add a custom exit node. Users can add their exit node to the BelNet mobile app themselves.
Exit node authentication for peer to peer subscriptions: A user may monetize their high bandwidth exit node by providing access via an authentication (for example, a password) which may be shared once payment is made in BDX (still a WIP, more details will be provided as we progress)
MNApps are private applications hosted on BelNet. There are applications that are hosted with the help of a BelNet address (a .bdx address) or a BNS domain.
MNApps can be accessed only on BelNet. They provide you with the underlying security and privacy of BelNet. And since they are hosted on BelNet, you can access them anonymously.
Below is an example of an MNApp that you can access by connecting to BelNet:
As you can see, the above address corresponds to the Beldex explorer that’s hosted on BelNet.
Why Host Web Apps on BelNet?
A web application today may be a social networking site such as a microblogging or image/video sharing platform, an e-commerce website, a search engine, a cryptocurrency exchange, a blog or a news website, an e-learning platform and many more.
Downtimes
These services (web apps) are usually hosted on a server located on a designated data center. When you connect to one of these sites like xyz.com, your request will be processed by a server on a centralized data center.
While in Facebook’s case, it was a faulty command during a routine maintenance check that caused the outage, it’s not an isolated event. Several data centers face such outages from time to time due to the way their network infrastructure is designed and set up.
On a centralized network setup, your connection passes through a set of routers that connect to hubs which in turn connect to a larger network infrastructure. An issue with the local routers or an outage at the hub means that your connection is hindered.
Zero Downtime on BelNet
MNApps are hosted on a server just like any other web app on the clearnet. But the server hosts the app on BelNet. On a decentralized onion routing network like BelNet, network traffic is handled by a number of routers (Beldex masternodes) that find the optimal path to the host server. Though the websites that are hosted aren’t themselves decentralized, your connection to them is. Even if one channel path is rendered inactive or useless, the nodes will find a way to securely transmit your data over another channel. Thus, downtimes are avoided or effectively managed.
Censorship, again
Your website is blocked, again.
That’s because your web host determined the traffic coming onto your website to be suspicious. How ludicrous! All you do is share information and critique on the latest tech trends. You shouldn’t be liable for the traffic on your website right?
Well, that’s not how centralized web hosting services see it. And with the changing dynamics in the geo-political weather, a slight change in policy is all that is required to cancel you or make you go out of business.
Web applications on BelNet are hosted on servers that are obfuscated by an onion network. The host’s IP address is not visible, even to the hosting service provider.
The web app is hosted behind a randomly generated alphanumeric address such as this – cw41adqqhykuxw51xmagkkb3fixyieat1josbux13jn6o973tqgy.bdx.
Web apps hosted in this manner are similar to hidden services. They can be accessed only by connecting to BelNet. Since nobody knows where the application is hosted, there is zero chance of it being censored.
ISPs and hosting services can see the traffic going in and out of the host, but may not know the origin of the traffic or the data that it carries.
Security
If you own a website, then you’ll know that there’s no guarantee your hosting service is 100% secure. While your request itself may be protected by HTTPS, centralized servers are susceptible to central points of failure.
The security risks of centrally hosted platforms is consistent even with well-known platforms like Twitter and WhatsApp. Last month, a hacker released data of almost 500 million WhatsApp users for FREE on a darknet forum. At the same time, Twitter has acknowledged the breach of 5.4 million of its users’ personal data.
What Makes an MNApp Hosted on BelNet So Secure?
Any request to and from the web app is encrypted and onion routed through the BelNet routers (Beldex masternodes).
Since BelNet adds a layer of obscurity to applications that are hosted on its network, it is virtually impossible for hackers and bad actors to find the IP address or the location of the host.
Even if they’re able to intercept your traffic, all they’re able to view is illegible jargon. The actual data remains protected under multiple layers of encryption.
Privacy
On websites that are centrally hosted, your data is constantly being monitored.
Ever heard of the cookie monster?
Ever heard of functional, analytical, performance, marketing, and advertising cookies? Well, these aren’t actual monsters but they know everything there is to know about your online activity.
Cookies are text files sent to your browser from the websites that you visit to track your activity on their website. They also collect and store your personal data.
For example, on an e-commerce website, cookies remember the product you look at, hold in your card or add to your wishlist. They may also collect information on your optimal price range for that product. Based on this information, you’ll be shown ads on other websites that you visit on the same device.
Cookies can collect this information even if you do not login to the e-commerce site by logging your IP address and device information.
Privacy On BelNet
Connecting to web apps on BelNet will not expose your personal information such as your IP address, name, email, location, etc.
Period.
No information is collected or shared.
More on MNApps
Are MNApps Decentralized Applications?
MNApps do not connect to the blockchain. Thus, they aren’t decentralized applications and do not require every node on the Beldex network to update a state change. They are, however, web applications that protect your privacy. They leverage Beldex masternodes via the BelNet onion router.
What Can Be An MNApp?
Any website on the clearnet can be an MNApp on BelNet.
For example,
A social media site e.g. photogram.bdx 📷
A microblogging platform e.g. chatter.bdx 🐿️
An e-commerce site e.g. congo.bdx 🛒
A search engine within BelNet e.g. beagle.bdx 🔍
A video streaming platform e.g. getflix.bdx 🎬🍿
A cryptocurrency exchange e.g. 10nance.bdx 💱
and the like.
Can I Host a Mobile App on BelNet?
Yes, you can host servers on BelNet for a mobile application just the way you host web applications.
How to Host MNApps on BelNet?
Hosting an MNApp is similar to hosting any other web app. The following guide gives you an overview of the step by step process involved in hosting an MNApp.
Note:
The server specifications such as storage and bandwidth are dependent on the user’s requirements. For example, a video streaming platform may require more storage than an information sharing platform.
However, you need a Linux system with Ubuntu 18.04 or 20.04 to run an MNApp.
You don’t need to run a masternode or an exit node to host an MNApp on BelNet.
DNS is the universal Domain Name System that provides a naming convention for devices and applications on the Internet. The DNS is coordinated and managed by The Internet Corporation for Assigned Names and Numbers or ICANN.
DNS makes it possible for machine readable IP addresses to be assigned human readable domain names. Without the DNS, you would have to remember the IP address of your favourite websites.
Why Do We Need DNS?
Humans can easily remember google.com and amazon.com but not https://172.217.166.110 or https://205.251.242.103. DNS facilitates a domain mapping service, making it possible for google.com to be mapped to its IP address https://172.217.166.110.
You can always visit google using its IP address, but think about having to visit every single website on the Internet this way? It’s just not practical.
Our very own Beldex.io, bchat.beldex.io and belnet.beldex.io are examples of domains and subdomains serviced by the DNS. Here, the Top Level Domain or TLD is .io
Similarly, there are several other TLDs that are recognized by ICANN. Chief among them are .com, .org, .net, .co, .gov etc.
Why Do We Need A Decentralized Domain Name System?
The existing Top Level Domains are managed by the Internet Assigned Numbers Authority (IANA), which is a branch of ICANN. IANA, which is a centralized entity, oversees the Internet’s IP address allocation and manages the root servers of the Domain Name System. They essentially get to decide which TLDs are accepted and which aren’t.
How Do You Buy A Domain on DNS?
You don’t actually buy a domain name but register it (or subscribe to it) for a certain period of time. You usually register a domain with a Domain Name Registrar, which is a business that handles the domain registrations, renewals and the transfers of ownership.
Centralized vs Decentralized Name Servers
Here are some of the key differences between centralized and decentralized name servers.
Censorship
Centralized domains usually require renewals at a higher cost than they are initially purchased. They are maintained by a Domain Name Registrar who can choose to block your domain at will. Thus, centralized domain name servers are prone to censorship.
Have you ever had your domain blocked for no reason? It’s exasperating to see your business dwindle as you wait to get in touch with your Domain Name Registrar for an explanation. And by the time you get your domain back online, you might not have the same number of visitors, sales or traction that you had before.
It’s critical for businesses and individuals to always have their websites online 24/7. Centralized nameservers run the risk of censorship and restriction from a third party.
Security
Centralized domains are susceptible to security risks such as Domain hijacking, DNS hijacking, DNS poisoning, and DNS redirection. Hackers could take control of your domain if the corresponding DNS server were compromised.
Decentralized domains, on the other hand, are either resolved by smart contracts or through a network of nodes on a decentralized network. Thus, it is virtually impossible to take control or change the ownership of a domain hosted on a blockchain network.
Privacy and Anonymity
You provide your name, address, phone number, billing and other personal information to register a domain with a domain registrar. If the domain registrar were to be compromised, your data will be exposed.
Since decentralized domains are resolved by smart contracts or a node network, you can register a domain just by using your wallet address (or in our case, you can even use a BChat ID – more on this will be shared in a later blog) without having to go through gatekeepers.
What is the Beldex Name Service or BNS?
A BNS name/domain can be your social username, your website’s domain address or your wallet address. Confused how it can be everything all at once?
Yes, it can be all that.. and more. The Beldex Name Service (BNS) is a decentralized name service on the Beldex blockchain. Just as Amazon.com is resolved to an IP address, BNS usernames and domains are resolved to your BChat ID, wallet address and BelNet address.
You can think of BNS as a single, portable Web3 identity that you can use within the Beldex ecosystem.
BNS usernames and domains are open to everyone. They make it easier to look up your friends on BChat and pay them with BDX. They can also be used to host private dApps (MNApps) on BelNet.
BNS usernames are similar to your social handles. E.g. Alice
BNS domains end with the TLD .bdx. E.g. Alice.bdx
A Human Readable Web3 Username
You may have noticed that we use the term BNS names (usernames) and BNS domains interchangeably.
This is because the BChat and Beldex Wallet namespace is separated from the BelNet namespace. They are unique and independent of each other. While the former is used to assign a username to a BChat ID or a wallet address, the latter is used to map .bdx domains to a BelNet address.
BNS usernames fall under the BChat & Wallet namespace.
The BChat & Wallet Namespace
Assigning a BNS username to a BChat ID can help your friends, family, and peers to look you up on BChat using the username.
Why BNS Usernames?
Without the BNS username, a BChat ID such as this one here –
bd762dace436db0f5dc1c49174d1765c68ab65ee50889e5a8ca263700abe3a2138– is difficult to remember. You could easily map it to a BNS username such as Alice and share it with your friends.
Anyone who wants to look you up or contact you on BChat would just need to search for Alice and your BChat account would pop-up.
The username you register determines the level of your privacy. If you’re fine with people looking you up using your real world name, then you could go register {yourname} as your username. If not, please use an alias.
A Human Readable Wallet Identifier
You can get paid with your BNS username. Freelancers and businesses working across borders have a simple and easy solution to make near-instant, real-time payments with BDX.
However, it’s not always easy to remember the wallet address of the client or business you’re paying. And if you interact with tens of hundreds of businesses, then it becomes all the more difficult to manage payments to their wallets.
The Ease and Convenience of Wallet Identifiers
If you could input Alice into the recipient address field instead of the actual wallet address that’s 97-99 bits long – bxc7EQ2AxQn1oBcdcEsExTLKkiAMV3TbKjd6gsnpoEoLVSUBpic9KiKa5jqQKvc5J4MkneDXHFVf6H5tE2j7oQZy2jeND6GQH – wouldn’t it save a lot of time in verifying the recipient?
The BNS Domain
BNS domains end with the TLD .bdx. They exist within the BelNet namespace and are mapped to your BelNet address.
They’re similar to google.com, but they live within BelNet and can be accessed only by connecting to BelNet.
Why BNS Domains?
Just as how it is difficult to remember the IP 47.91. 88.100 – Port: 1080, it is also exhausting to remember a BelNet address (the IP address equivalent of an application on the BelNet) unless you have a photographic memory.
It is so much easier to type in explorer.bdx instead of –
A BNS domain is your identity within the Beldex Web3 ecosystem. A Web3 identity can be used to build trust and reputation within the ecosystem.
Your social identity. Your wallet. Your MNApp – all connected to a single Web3 domain (or different domains if you’d like).
We value our digital identities as they help us build a reputation over time. They may provide us with democratized access to an array of products and services based on our history and track record. For example, the handle @Beldexcoin on Twitter is a valuable asset to us because that’s what our users remember!
If there’s ever a community forum or an announcement board within BelNet, we’d probably use the domain Beldexcoin.bdx or community.beldex.bdx for the service.
Web3 identities like the BNS can also be used as a measure of a community member’s contribution to the network. For example, the following metrics would be considered,
When was the BNS name registered?
How long has it been registered for?
Does the BNS domain host an MNApp?
What kind of service does the MNApp provide? And so on.
In the future, if there’s a DAO for the Beldex community, then a user’s BNS names, BNS domains, their MNApps, their stake within the network (masternodes), their masternode credits, and similar factors may be used as a measure of their loyalty and commitment to the network in order to delegate key roles.
Buy BNS Forever or Renew Them?
You can both buy BNS usernames forever but you can only register a BNS domain for a specified number of years.
As we mentioned, BNS names are of two kinds. One that exists within the BChat and wallet namespace, and one that exists within the BelNet namespace.
Registering a BNS Username
The BNS name for the BChat and wallet namespace exists without the .bdx extension.
E.g. John
The above BNS name is mapped to a BChat ID and the corresponding wallet address. It follows a ‘buy once and keep forever’ model. This is because it will be impractical for users to change the BNS for their wallets that receive payments.
Registering a BNS Domain
The BNS name for the BelNet namespace uses the extension .bdx.
E.g. John.bdx
The above BNS that uses the .bdx extension can host an MNApp. It follows a ‘register (for a period of time specified by the user) and renewal’ model. This is to prevent domain squatting. Malicious actors may try to buy domains such as amazon.bdx and lay them to waste to prevent legitimate businesses from buying them.
Can you login with BNS names?
There are currently no decentralized applications that use the BNS as a login. BChat, our flagship social dApp, doesn’t require usernames to login. However, it will certainly be interesting to see a decentralized application that uses the BNS as a login built on the Beldex network. You could be the first to build it.
How are BNS Names Resolved
BNS runs on the Beldex blockchain and uses a distributed on-chain registry to resolve BNS names to a BChat ID and wallet address and BNS domains to a BelNet address. Records of ownership and information about domain expiry and renewal are maintained on-chain.
What’s possible and not possible?
One BNS Name to Many BChat IDs/wallets – not possible
Many BNS Names to One BChat ID/ wallet – possible
One BNS Domain to Many BelNet Addresses – not possible
Many BNS Domains to One BelNet Addresses – possible
One to many mapping is not possible because you cannot receive BDX sent to one BNS name on different wallet addresses. This is the same for BNS domains. You cannot enter one BNS domain and expect to visit multiple websites/MNApps.
On the other hand, a many to one mapping is possible.
In this case, two or more BNS names are mapped to a BChat ID and wallet.
Consider the BNS names Alice and Bob mapped to the following BChat ID & wallet
BChat ID – bd762dace436db0f5dc1c49174d1765c68ab65ee50889e5a8ca263700abe3a2138
BNS name lookup: If you search for either Alice or Bob on BChat, the same account will show up.
Similarly, you can map two or more BNS domains like alice.bdx and bob.bdx to a single BelNet address.
Where Do You Register A .bdx Domain?
You can register a .bdx domain either on the Electron wallet (a user-friend user interface will be added to the Electron wallet for this purpose in a later update) or on the CLI wallet.
More details on registration fees, renewals, and updating ownership records will be shared in a detailed documentation later when BNS goes live.
Do Browsers Support the .bdx TLD?
A domain such as yourname.cryptocurrency doesn’t work on a browser because browsers don’t yet support the TLD .cryptocurrency. Or specifically, ICANN doesn’t recognize it as a top level domain yet.
Popular browsers such as Chrome and Mozilla Firefox support the TLDs registered with the public root of the DNS which is maintained by ICANN. Thus, .bdx which exist on the Beldex network are not supported by browsers on the clearnet.
If browsers do not support the TLD .bdx, how can you access a BNS domain?
You can access a BNS domain by connecting to BelNet using a BelNet client.
Now, open a browser application and enter the .bdx domain (e.g. beldex.bdx) into the browser’s address field.
You will now be able to access the .bdx domain.
BNS Introduces A New BDX Burn Mechanism
BNS introduces a burning mechanism to BDX. The BDX used to register a BNS domain is burnt and removed from circulation. Thus, as BNS adoption increases, the amount of BDX that is removed from circulation also increases, resulting in a stable & positive price discovery for BDX.
Cryptwerk is an online directory of online and offline companies, businesses, stores, and services where you can pay with BDX. Here, you’ll be able to find the merchants and businesses that accept BDX for their products and services. The directory lists over 1300 merchants and stores accepting crypto.
Why Does BDX Need Real World Use Cases?
The Beldex coin (BDX) will be a utility on BChat, BelNet, Beldex Browser, and the scores of other decentralized applications that we’ll be developing.
However, one of the core principles on which Beldex was founded is the protection of financial privacy. And to achieve this, it should be possible for BDX holders to spend BDX in the real world.
Imagine how convenient it would be to purchase a gift or a personal care item without the world knowing about it.
Real world use cases create value propositions and aid in price discovery of BDX. Thus, Beldex will be partnering with crypto payment processors and merchants so that you can buy real-world products and services with BDX.
Businesses & Merchants that Accept BDX
Below are a few businesses that accept cryptocurrencies
Cryptocurrency Checkout: Beldex is listed with cryptocurrency checkout, a non-custodial payment gateway that provides plugins for e-commerce merchants and open-source CMS like Bigcommerce, Shopify, WooCommerce, WordPress, WHMCS, WCMarketplace, and Crypto Invoice.
Stay tuned as we keep building our real-world use cases by partnering with online and offline retailers.
Place Your Requests Here
If you think we need to be listed with a crypto payment service provider or a merchant in your locality, then please reach out to us via the following channels
Crypto payment processors & merchants can reach out to
DappRadar describes itself as the world’s dApp store. A dApp store is an dApp distribution service or a dApp marketplace where you can search for and download decentralized applications like the BChat private messenger.
DappRadar hosts a range of decentralized applications from wallets to DeFi platforms. It is one of the largest dApp marketplaces with nearly 13,000 dApps and supports 42 protocols.
Users can download BChat for Android devices directly from DappRadar.
BChat for desktop clients will be listed on the platform shortly.
Why Do We Need Decentralized Marketplaces?
Decentralized app marketplaces not only serve as alternatives to mainstream centralized app distribution services, but they’re also specific to Web3 and provide a higher degree of trust and privacy.
You don’t need to register an account on a dApp store to download a dApp. All you need to do is waltz in and click that download button.
Another key reason to use a dApp store is censorship-resistance. While centralized players try to offer their services worldwide, there are certain exceptions that prevent them from doing so. It could be their terms of policies or the laws of a region.
In such cases, an app store quite doesn’t fit the cut. That’s where dApp stores come in. Most if not all dApp stores connect to a decentralized network where information about the app is hosted. The application thus hosted will have a high security and censorship-resistance.
BChat, BelNet, and all other ecosystem dApps will be hosted on multiple dApp store platforms so that you can access them freely from anywhere, anytime.
BelNet is an onion routing protocol based decentralized VPN service. The BelNet onion router leverages the Beldex decentralized network to route your requests.
However, unlike other onion routers, BelNet uses an enhanced low latency anonymous routing protocol.
You can anonymously browse the clearnet, send messages, stream videos, upload and download content, unblock geo-restricted content, and securely host decentralized applications.
BelNet also helps you mask your IP, browsing history, and network traffic from your Internet Service Provider, Cellular Network Provider, third parties, ad-companies, and even governments.
What are onion routing protocols?
You might be wondering why they are called onion routing protocols and not orange routing protocols. The simple answer is that the mechanism used by the protocol to encrypt and route your request is similar to that of peeling layers of an onion. An orange wouldn’t quite fit the metaphor.
An onion routing protocol hops your traffic through the nodes on a decentralized network and encrypts your traffic at each node (consider your message/traffic to be the filling wrapped around by a layer of tortilla, the encryption). It generally encrypts your traffic thrice (thus, three tortillas).
How does BelNet route your traffic?
BelNet routes your traffic through the masternodes on the Beldex decentralized network. Masternodes act as routers (relays) and they bounce your traffic through several different nodes before passing it on to the exit node.
How can you connect to BelNet?
All you need is a BelNet client – a device with BelNet enabled. You can download BelNet for Android devices on Google PlayStore.
BelNet will be launched for iOS devices, and desktop clients like Mac, Linux, and Windows soon.
What are the other types of nodes on BelNet?
There are four types of nodes on BelNet. These are,
Edge node: An Edge Node is a listening node. It is the first node and your point of entry to the BelNet network.
Transit node: A Transit Node can be a single node or a number of nodes through which your traffic is relayed. Transit nodes have only one job, that is to pass your request to the next node.
Pivot node: A Pivot Node is a node that knows the location of the Exit Node and routes your request to it.
Exit Node: An Exit Node, like the name suggests, is a node that relays your request to the destination (which may be a web server that hosts a specific website such as Facebook.com, Youtube.com, or our very own Beldex.io).
What are Exit Nodes on BelNet?
Exit nodes are prominent nodes on BelNet that relay your decrypted request to the destination server.
The exit node knows where the request should be sent to but has no idea of where it came from.
Thus, it has the sole purpose of communicating your requests to the clearnet or the public Internet. Exit nodes help you mask your IP address. The destination only sees the IP address of the exit node.
Why are Exit Nodes Important?
To understand why exit nodes are important, think about what will happen if there is no exit node on BelNet?
Your request wouldn’t leave BelNet. Without exit nodes, all you can do is browse the decentralized applications hosted on BelNet (more on this will be shared in a later blog).
With exit nodes, the gateways to the clearnet, you can anonymously access any web or mobile application like you normally do.
A website that you visit after connecting to an exit node on BelNet will see the traffic coming from the exit node and will respond to it. Thus, exit nodes add an onion routed decentralized VPN like functionality to the BelNet intranet.
Now this brings us to an important question.
Can Masternodes Serve as Exit Nodes?
Masternodes can act as Edge nodes, Transit nodes, and Pivot nodes. However, masternodes on BelNet only take on the responsibility of routers. They cannot serve as Exit nodes.
There are a couple of reasons why.
1. On the Tor network, Exit nodes are both routers and point of exits. Those who control a large number of relay nodes and exit nodes on Tor can perform systemic traffic analysis using metadata such as timestamp and frequency of requests to determine where the request is originating and which platform handles the said request.
Solution: On BelNet, exit nodes can only receive the traffic from Pivot nodes. Even if a large number of exit nodes were to be compromised, they still wouldn’t know the origin of the traffic since there is no Distributed Hash Table (DHT) or a centralized log of the masternodes on the Beldex network. One would be able to look up a masternode using the Beldex explorer but would not know its IP address or where it is hosted. Masternodes are also sufficiently distributed and so they are resistant to ‘Man in the middle’ and Sybil attacks.
2. Decoupling the responsibility of exit nodes from routers provides higher bandwidth and traffic handling capacity to exit nodes. Since exit nodes serve as both routers and exits on Tor, this means that they handle both these requests from multiple clients simultaneously.
Solution: Exit nodes on BelNet can only relay traffic in and out. They do not bounce your traffic between relays, query a DHT, or have to maintain a comprehensive list of all the relays (edge, transit, and pivot routers) on the network.
How is BelNet Better Than its Competitors?
BelNet offers a higher degree of anonymity and privacy. Its low latency makes it perfect for streaming videos and playing games online.
BelNet is open-source and easy to use. It offers you #OneClickPrivacy. You only need a working BelNet client (a mobile or desktop device with the BelNet app installed) to connect to the network.
BelNet doesn’t compromise on decentralization, security, or privacy of the network. There are over 1100 masternodes acting as relays.
Though BelNet is relatively nascent when compared to other VPNs, it has sound technology and team backing it up.
Anyone can set up a BelNet exit node. BelNet has a very low entry barrier to operating an exit node. (Check out the hardware requirements below)
However, you would need a Static IP to run an exit node. Static IP’s aren’t ideal for running an exit node from your home server. For example, if you’re setting up an exit node on your dedicated home server, you may run into roadblocks such as low bandwidth. Thus, for practical reasons, we recommend that you use a Virtual Private Server (VPS).
What are the Incentives to Setting up An Exit Node?
As we noted earlier, on-chain exit node incentives are a work in progress. Existing masternode operators who set up an exit node will be given priority and will be eligible for our early adopter rewards.
Exit node operators (who previously haven’t set up a masternode) will also be rewarded based on the operational costs. The details of the reward mechanism will be published in a separate announcement once it is finalized.
Hardware & Bandwidth Requirements of Exit Nodes
Below are the system requirements and the minimum specifications of a dedicated server or VPS for BelNet exit nodes.
BelNet Exit Node System Requirements
As you can see, the entry barrier to setting up an exit node is relatively low.
And since exit nodes handle exit traffic, they are required to maintain a bandwidth of at least 1 GB.
Here’s is a quick and easy guide to set up an exit node
Here are a few standards that the BelNet dVPN aims to maintain.
Strong Encryption 🔐
Strict no-logs policy 📝
Good bandwidth and speed 🤗
No caps or data limits 🧢
IP leak protection 💻🔐
Globally distributed servers 🌎
Multi-device simultaneous connections 💻🖥️📱
Cross platform compatibility 🔀
Works in oppressive regions ✅💯
This once again brings us to two important questions.
How fast is BelNet? And How many Exit Nodes does BelNet need for Optimal Performance?
BelNet is as fast as the relays and exit nodes in the network. The higher the number of nodes, the higher is the network’s traffic handling capacity.
The existing exit nodes can process requests at 10 Mb per second. These results are based on the current traffic load over the network.
Distribution of Exit Nodes
How many exit nodes are currently in operation?
The Beldex foundation currently hosts 3 exit nodes in Europe.
The foundation will be hosting a few other nodes in different geographies but will refrain from hosting more than what is required to handle the current traffic since true to the ethos of decentralization, we wish the Beldex community to hold the majority stake in operating exit nodes.
Where do we recommend that you set up an exit node?
We recommend that you set up exit nodes where you reside so that it helps the local communities to connect to BelNet.
If you can set up multiple exit nodes, then consider the geographies where they are less concentrated, such as
North America
Latin America
The MEA region and
The APAC region
How Secure is BelNet?
BelNet is protected against man in the middle attacks and sybil attacks through the collateralization and incentivization of masternode relays.
Anyone who wants to set up a masternode has to lock-in a collateral of 10000 BDX which they stand to lose if they try to undermine the network. Exit nodes on the other hand do not have a collateral requirement at the moment. However, they only handle exit traffic and cannot be used to deanonymize you.
Who Benefits from an Exit node?
Everyone who uses the BelNet dVPN will benefit from an exit node. However, here are some categories of people/organizations who will benefit the most from it.
The Freedom of press foundation
Journalists
Editors
Civil Societies
Human Rights Organizations
Human Rights Activists
Privacy organizations
People seeking asylum and those living in oppressive regimes
Where to look for more information on Exit nodes?
The best way to know more about exit nodes on BelNet is to join our telegram and discord communities. You can get in touch with our contributors and developers for more information on setting up an exit node.
To add your exit node to the BelNet app, reach out to [email protected]
BDX is listed on a KYC-free, registration-free instant swap platform. Now, you can anonymously swap BTC, ETH, USDT, and hundreds of other coins and tokens for $BDX.
Where can you swap BDX?
You can swap other digital currencies for $BDX on the following platforms,
On the LetsExchange widget, enter the amount of BTC, ETH, USDT or any other asset you want to swap for $BDX.
Then, you need to enter your receiving address (your BDX wallet address in this case).
If you’ve got a promo code, enter it. This may offer you a discount on the swap fee.
Enter the refund wallet address. This may either be the same or different from your receiving wallet address.
Then, select a fixed or floating exchange rate for your swap and click ‘Get $BDX.’
Check and confirm the details of the swap once again.
If all the details are correct, then send the exact amount of BTC (or any asset that you want to swap for $BDX) to the wallet address indicated on the screen.
Then, wait for the swap to go through. The LetsExchange platform will find an optimal route and liquidity to carry out the swap.
For this purpose, LetsExchange works with more than 10 centralized and 15 decentralized exchanges.
Once the transaction is confirmed, you will receive your $BDX to the wallet address you provided.
Why KYC-free Swaps?
Privacy, anonymity and maximum decentralization are the core principles of the Beldex project. We partner with platforms that share these principles to provide you with exceptional service and experience.
With BDX and LetsExchange, you can rest assured that your financial information stays only with you.
That’s not all. Beldex will be partnering with more KYC-free, decentralized platforms in the future.
Follow us for more information and to get instant updates on our developments.
Nodehub is one of the largest masternode hosting service providers and hosts the most masternodes on the Beldex network.
To be precise, Nodehub currently hosts 40% of the masternodes on the Beldex network.
The platform shows you extensive stats and other information about,
Daily, weekly, monthly and yearly income of BDX masternodes
The required BDX collateral
BDX masternode value
The annual ROI
Total masternodes on the Beldex network
Masternodes on Nodehub
Total & circulating supply
Coins locked in Masternodes
Listed exchanges and the current price of $BDX
Deploying a Beldex masternode on Nodehub is quick and easy. Nodehub is also non-custodial, which means your collateral remains in your wallet.
What is Cold Masternode Hosting?
Nodehub offers a cold masternode hosting service for BDX masternodes. You only need to provide your wallet address that holds the required collateral amount of 10000 BDX.
When you deploy a node, the platform will verify if your wallet has the required collateral. Then a masternode is deployed on your behalf. Any rewards accumulated for verifying blocks will be sent to the wallet address that you provided.
Thus, you don’t actually need to transfer your BDX to the platform.
How Do You Set Up A Beldex Masternode
Setting up a Beldex masternode is quick and simple.
If you don’t have the necessary bandwidth, stable power supply, internet connection and network setup, then you can opt to deploy on a platform like Nodehub.
The Pecunia platform is a leading masternode hosting service provider. If you’re looking for a reliable service provider with a nominal monthly fee, then Pecunia Platform is the perfect place to host your Beldex masternode.
The platform offers fast synchronization for Beldex nodes.
It also provides you with comprehensive data on the status of your Beldex masternode. Below are a few other helpful data that you can find,
Daily, weekly, monthly, and yearly income of Beldex masternodes
BDX price stats, volume, and marketcap information
The annual ROI of BDX masternodes
Total active masternodes
Collateral requirements
Masternode worth and
Total masternode marketcap
The current total masternode marketcap of BDX masternodes is 11,137.51 BTC.
What are the Benefits of Setting up a Beldex Masternode?
Low Hardware Requirements: The hardware costs of Beldex masternodes are some of the lowest in the Industry. This is to ensure that everyone is able to participate in the Beldex network and to promote decentralization.
Optimum Collateral: The collateral to set up a Beldex masternode is 10000 BDX. This collateral allows for small players to participate in the Beldex network while guaranteeing its security.
Secure the Beldex Network: The more masternodes that are setup, the more secure the Beldex network becomes. Your Beldex masternode validates transactions, checks and prevents double spending, and is paramount to the smooth operation of BChat, BelNet and their components.
Earn Passive Rewards: Beldex masternodes are rewarded for their contribution to the network. For each block they verify, they are rewarded 6.25 BDX. Thus, you have an opportunity to earn passive rewards by staking BDX.
Competitive Annual Returns: Beldex masternodes offer the highest returns for an optimum collateral. According to masternodes online, the current annual ROI of a Beldex masternode is 57.04%.
Benefits of Early Adoption: If you’re setting up a masternode on the Beldex network now, then consider yourself an early adopter. As the ecosystem grows and expands, BDX will gain more utilities on the Beldex browser, the Beldex privacy protocol, and the Beldex Name System, in addition to BChat and BelNet. Burning mechanisms will be introduced and the current inflationary supply model will transition to a deflationary model.
Masternodes are full nodes that hold the entire record of the blockchain. Masternodes are the foundation of the Beldex blockchain that help validate transactions, send messages via BChat and route your connection through BelNet.
The greater the number of masternodes, the more secure the network. Masternodes help verify new blocks and play an important role in blockchain governance. Masternodes differ from full nodes in that validators can stake their coins on masternodes regardless of the consensus mechanism used.
Before POS, masternodes on the Beldex network aided in the validation of blocks while miners generated the blocks.
With the gradual transition of the network to a POS consensus, miners were deprecated and masternodes were able to generate blocks and validate transactions.
Why should you set up a Beldex masternode?
There are several reasons why you should set up a Beldex masternode. Here, we list the top 5 reasons why Beldex masternodes are a great opportunity to generate passive income.
1. Low Hardware Requirements
When it comes to setting up a blockchain validator, Beldex masternodes have some of the lowest hardware requirements.
Beldex masternodes currently require around 30-50 GB of disk space for the entire history of the Beldex blockchain.
The Beldex network currently has a blockchain size of 10.8 GB. To further reduce blockchain storage requirements, Beldex Research Labs is researching ways to reduce transaction and proof size. This basically means, the storage requirements to set up a Beldex masternode is going to remain low for a very long time.
2. Optimal Collateral
Beldex has an optimal collateral requirement of 10000 BDX.
With the current BDX price of $0.04603 USD, the collateral amounts to $460 USD. This is significantly lower than the collateral requirements of other masternode coins.
While the collateral is lower, Beldex also takes into account the security of the network by locking the collateral for a minimum of 30 days when unstaked.
At ATH, the collateral amounted to $1716 USD while the value of block rewards increased proportionately.
3. Passive Rewards
Users can earn passive income by staking BDX on masternodes.
They earn daily rewards based on the number of masternodes in the network.
For example, currently there are 1135 active masternodes. The daily rewards are split between these masternodes.
You can check the current BDX masternode rewards here.
Beldex offers a competitive return on collateral for validators when compared with other staking coins.
These returns are also based on the number of masternodes in the network.
Does this mean returns are reduced when more masternodes are added to the Beldex network?
Not necessarily. With 1135 masternodes, the ROI stands at 58.35%. The ROI was 50% more when there were 50% less masternodes in the network.
For optimal performance of BChat, BelNet, and other products that Beldex is developing, the network needs a large number of masternodes.
This was the principle by which the masternode rewards were designed. Thus, even if 1000 masternodes were to be added to the network, the returns would still be 29.17% with the current price of BDX.
5. Benefits of Early Adoption
BDX price discovery is at an early stage as the ecosystem is still developing.
Thus, the benefits of early adoption will include the benefits from a positive price discovery as the utility of BDX on BChat and BelNet increases.
Thus, there are several benefits to early adoption as the network grows and expands.
What happens when you set up a Beldex masternode?
Validators: By staking BDX on masternodes, users can become validators on the Beldex network. They can validate the transaction and earn rewards from it.
Fast & scalable: When the masternode count increases, the network becomes fast, reliable, and scalable. It helps improve the speed of the validation process. Masternodes not only validate blocks, but also work as the backend infra for BChat and BelNet. On BChat, masternodes are used as message routers. The messages you send via BChat are routed through the masternodes and reach their destination. On BelNet, masternode relay your connection from one router to another, and then to the exit nodes.
Securing your funds: Keeping your funds in exchanges or third-party custodial wallets or staking platforms may not offer you with the best of privacy or security. So staking your BDX on decentralized masternodes using the Beldex Electron Wallet (PlayStore, AppStore) will always be secure and you can earn from it too.
Requirements to Set Up a Beldex Masternode
Here are the latest software and hardware requirements for setting up a Beldex masternode.
Users should have a minimum of 10,000 BDX (+fee) in the wallet to set up a masternode. Transaction fee is very minimal, thus an additional 2-5 BDX should suffice.
Click on masternode tab and choose the registration option.
Before setting up the masternode, one should rent a VPS (Virtual Private Server) or a dedicated server. The VPS helps keep your masternode online 24/7. If your masternode goes offline, it will be deregistered.
You can rent a VPS from any hosting service providers like AWS or Scaleway.
Once you’ve rented a VPS, login to the VPS using your registered username and password.
It will open the terminal on your system.
Now paste these five commands shown below on the terminal and press enter.
The following command gives your system access to the deb packages using the server key.
While setting up the masternodes, users usually come across the following hiccups. They are,
Wallet Synchronization: Ensure that you’ve got a good WiFi network. Wallet synchronization is delayed if your internet is slow. The user’s network should be stable to set up the masternode.
Node Synchronization: Your node should synchronize with the Beldex blockchain. Issues with node synchronization happens due to overload (when several nodes connect to a single RPC node to register). In this case, users need to click on the settings tab in the Electron wallet and change the remote node host. Three RPC nodes are available. If one is overloaded, you can choose a node from the remaining two. It will help synchronize your node faster.
Cannot Connect Remote RPC Node: This warning shows up either when an RPC node is overloaded or when you enter an incorrect wallet address. Go to settings and change the remote node host. If not, check that the wallet address that you entered in the terminal and the one in the Electron wallet you’re using to register the masternode are the same.
Beldex Masternode Data Partners
Masternode data partners provide data about the Beldex masternodes. Here you can check the following details such as the
Total number of masternodes in the Beldex network.
Active masternodes in the network.
Reward earned daily, weekly, and monthly.
Total BDX locked in the masternodes for collateral.
Masternode cap value.
Frequency of reward distribution.
Beldex masternode data partners are,
Masternode Online:MNO is a coin tracking and information service provider for masternodes. MNO provides the most precise and complete data about masternodes.
Masternode Buzz: Masternode Buzz provides the details about Beldex masternodes and other information such as our exchange partners, the current price of BDX, and 24h price change, etc.
Masternode Staking Partners
Masternode staking partners help the users stake their BDX coins on their platform. Instead of setting up their own masternode, one can prefer staking with our masternode hosting partners. It will help reduce the masternode cost and setup time. Users can easily stake their BDX.
There are two types of staking options available. They are,
Cold Staking: In cold staking, users require a minimum balance of 10,000 BDX in their Electron wallet. Users need to create an account on the staking partner’s platform. Then, they need to deposit the required fees and deploy their Beldex node using their wallet address. Cold staking does not require the user to transfer BDX from their wallet to the staking platform. Thus, this kind of staking is also known as non-custodial staking. Nodehub offers cold staking for Beldex masternodes for a nominal fee.
Custodial Staking: Custodial staking involves transferring your BDX to the staking platform to set up a masternode. Pecunia and Perfect Nodes offer custodial staking solutions for Beldex masternodes for a competitive fee.
