Beldex Research Labs, the research wing of the Beldex project, has announced a partnership with Geometry Labs, a decentralised finance and cryptography research and development lab, with the aim to scale up the Beldex blockchain as applications such as BChat are developed over the network.
Through this partnership, the platforms aim to address issues such as privacy in blockchain and enable the development of privacy tools that help users protect their data online. Specifically, Beldex aims to build platforms that aid in advancing free speech and an open peer-to-peer economy. Current blockchains and decentralised applications (dApps) built over them are considered to be autonomous but lack the privacy needed to keep gatekeepers at bay.
“Geometry Labs look to provide technical consulting pertaining to cryptography and protocol design, scalability techniques, and applications for decentralised and private protocols,” Mitchell Krawiec-Thayer, president and chief scientist, Geometry Labs, stated.
According to Codeman Crypto, CTO, Beldex, as a precursor to adding EVM compatibility, Beldex is working on the implementation of a blockchain network to improve synchronisation of nodes and storage efficiency by using cryptographic accumulators. “This will help with the deployment of applications such as BelNet, Beldex Browser, and Beldex Privacy Protocol,” he added.
Going by insights from the Beldex network, it currently uses the Ring Confidential Transactions (RingCT) protocol to anonymise the sender and receiver identities, and the amount of value transferred. With a ring size of 11, the network claims to introduce sufficient anonymity required to ensure that the transactions are unlinkable. However, the introduction of decoys to each transaction make them cryptographically adaptable. The Beldex team expects to scale the network by vetting the current RingCT protocol and introducing a proving system without a setup to reduce proof and transaction size. By reducing proof size, Beldex expects to increase its transaction per second (TPS) count of its network and lay the foundations for adding smart contract capabilities to it.