$BELA - Token fueling Belacam - Fastest Growing Crypto Social Media

$BELA - Token fueling Belacam - Fastest Growing Crypto Social Media

By Zan Poglajen | Belacam | 2 May 2020


$BELA is an ERC20 token that fuels Belacam - the fastest growing crypto social media site (About Belacam)

History The Bela
Cryptocurrency was initially launched as a fork of Litecoin in January, 2014 by a serial coin developer in New Jersey. Soon after, Bela was listed on the Poloniex crypto exchange. In 2016, the developer passed leadership of Bela over to our current team, and we began to develop Belacam: Bela’s first real use case.

On Poloniex, Bela quickly gained a reputation as a fun coin to trade. Being a small market-cap coin, the markets were more volatile and exciting than many of the large market-cap coins. Bela was relatable as well — average traders could easily understand and evaluate our social-media product, which is rare in cryptocurrency markets. In the 18 months following our takeover of Bela, the coin saw $125 million in trading volume.

Despite the trading success, Bela’s blockchain was lagging far behind industry standards. Operating with much of our 2014 code, the blockchain would occasionally get “stuck,” and transactions could take as long as 72 hours to process. We recognized that this tech could not scale to fulfill our mission, so we set out to overhaul Bela’s entire codebase. Throughout April and May of 2018, we updated Bela’s source code from a Litecoin fork blockchain to an ERC-20 token. The new Bela integrates seamlessly into other ERC-20-supporting products, like Binance’s Trust wallet for the iPhone. Unfortunately, Poloniex did not update their deposit and withdrawal system to support the new Bela, and Bela trading on Poloniex was discontinued.

Bela now trades on other exchanges: Mercatox.com and Altilly. Our team regularly seeks new and larger exchange listings, and we are confident that they will come as Belacam continues to grow.



Technical Specs

Bela is an ERC-20 token that piggybacks on Ethereum’s blockchain. Whenever Ethereum blocks are mined, Bela transactions are processed as well by the same miners. When the world-class developers of Ethereum update its code, Bela benefits from the same upgrades.

Here is the only information that is needed to integrate Bela into any ERC-20 compatible wallets and infrastructure, like MyEtherWallet, Parity, etc.:

Ticker Symbol: BELA
Contract Address: 0x2e98a6804e4b6c832ed0ca876a943abd3400b224
Decimals: 18





Staking

The current supply of Bela is around 50 million, and about 5.6 million new Bela are minted every year. 4 million are distributed to Bela holders and 1.6 million go to our company for operating and promotional expenses. The 4 million Bela distributed to Bela holders are created through a unique staking process that mimics proof-of-stake.
Users “lock up” some Bela in a smart contract for 30 days and earn 3 - 4% interest on it after the month-long maturation period, like a bank CD. We developed this feature from scratch, and Bela remains one of the only ERC-20 tokens to offer staking.

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Links:
Belacam.com
Twitter
Facebook
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Zan Poglajen
Zan Poglajen

Belacam.com & BTCsurveys PR representative Twitter: @PoglajenZan Telegram: @MrPugi


Belacam
Belacam

Official Belacam blog. Belacam is a cryptocurrency-based social media site with 400,000+ users. Be social and earn crypto at Belacam.com

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