Bempire guarantees the security and fidelity of its users’ data and generates trust without trusted third parties.
Bempire is the key step in the BEM foundation’s roadmap of entrepreneurial investments.
It’s one of the blockchains that has exploded with the establishment of various cryptocurrencies, non-fungible tokens (NFTs), decentralized finance (DeFi) applications, and smart contracts.
The Bempire blockchain allows the establishment of smart contracts and some programmable tokens used in ICOs (Initial Coin Offerings) and NFTs (Non-fungible tokens), which are built around the Bempire infrastructure and secured by the Bempire nodes.
What’s Bempire Blockchain
Bempire is the BEM foundation’s dedicated blockchain. It’s a blockchain network and decentralized public ledger used to verify and record transactions.
It’s a network that allows users to create, monetize, publish, and use applications on its platform.
As an open-source platform, Bempire is creating a peer-to-peer network that executes and verifies application code, known as smart contracts.
The platform boasts the latest technologies and the possibility to implement Dapps, smart contracts, DeFi Project, Stable coins, Tokens, decentralized games, NFTs, NFT market, Wallet, SWAP, DEX, etc.
Bempire is fully compatible with EVM (Etherium Virtual Machine) programs so users can use and improve their old Solidity codes easily in BEM foundation’s dedicated blockchain.
It provides a great and easy infrastructure for creators and developers to quickly implement their own contracts, tokens, Dapps, etc.
With Smart contracts, transaction records are verifiable, immutable, and securely distributed on the network, giving Bempire users visibility and full ownership of their transaction data.
The Vision of Bempire Blockchain
Bempire Blockchain is established to allow developers or users to create or publish smart contracts and dApps that can be utilized without the risks of fraud, downtime, or third-party involvement.
It’s committed to offering a quick and flexible platform to create decentralized applications and transactions at a low cost.
Bempire aims to be the primary house for decentralized applications like NFTs and DeFi, while serving as an alternate protocol for creating decentralized applications.
Basic Specifications and Tokenomics of Bempire blockchain
At the launch time, Bempire will have four validators. These validators can be increased in the future.
Blocks are created every 4 seconds. And the two BEM (the official coin of Bempire) will be rewarded to validators.
There will be a private sale before the launch.
BEM will have a private sale and then ICO in some major exchanges to be publicly tradable.
There will be a total of 100.000.000 (One hundred million) of pre-minted BEM at the launch time. From early internal negotiations, no more than 20% of these coins will be offered publicly.
Features of Bempire Blockchain
Smart contracts
Bempire network uses Smart contracts that allow users to transact any valuable under certain conditions.
With Smart contracts, the transfer of currency or assets is done in a trustworthy or transparent way. The two entity identities are secured on the Bempire network.
PoA (Proof of Authority)
Bempire uses a PoA consensus algorithm. The PoA consensus allows the Bempire to have high-speed transactions and a low cost.
PoA is an algorithm used in blockchains as a permissioned consensus mechanism. It’s unlike permissionless blockchains where anyone can become a node. All nodes are pre-selected in the permissioned blockchain.
In addition to fast transaction speed and affordability, the PoA is secure against DDoS (Distributed Denial-of-Service) attacks and 51% attacks.
DApp (Decentralized Applications)
Bempire blockchain allows users to build consolidated applications, called decentralized applications.
The platform powers digital apps that enable users to play games, send money, invest, track investment portfolios, and follow social media.
Using this blockchain platform, professionals can develop various types of decentralized applications.
Decentralized Finance (DeFi)
DeFi is a financial application that can be seen on Bempire networks.
It’s different from the existing financial network since it’s programmable and open. It works without a central authority and allows developers to provide new payments, lending, investing, and trading.
With distributed systems and smart contracts, users can create secure decentralized financial applications.
In addition, with the Bempire network, users can avoid government control over their assets or money movement.
DAO (Decentralized Autonomous Organization)
DAO runs on Bempire network, and it’s the most prominent form of a smart contract. Its transaction records and rules are computer programmed.
The organization and rules are controlled by the shareholders without central government involvement.
The organization members can easily exchange values and establish rules to agree.
Non-Fungible Tokens (NFTs)
NFTs are unique and indivisible digital tokens. They’re gaining popularity in the Crypto and gaming industry because they enable interoperability between gaming companies.
Bempire network can record and maintain the ownership information of NFTs. They can be powered by Bempire. The network allows people or artists to sell art or items directly to buyers with smart contracts.
Bempire Wallet
The Bempire wallet can be used by platform users to store their assets. Users can send their Cryptos bought from a crypto exchange or a peer to Bempire wallet.
After the launch of this wallet, users can install it on their desktops computers, mobile phones, iPads, and other devices.
Users can download the wallet, sign up and get a wallet address to send and store their digital assets.
Bempire wallet can allow storing of different types of Cryptos.
Advantages/Benefits of Bempire Blockchain
Secure and Transparent Transactions
All transactions on Bempire network can be transparently viewed. Users can track their Cryptos wherever it goes.
Transactions are private, secure, and efficient. After a transaction has been recorded, its authenticity would be verified by the Bempire network
Low transaction fees
Bempire network provides substantially lower transaction fees. It aims to eliminate many transaction and processing fees.
It has no third-party verification and interference. And it’s set to offer zero or almost no-fees transactions.
Quicker Transactions
The unique feature of Bempire blockchain is its high transaction speed and low transaction costs.
Transactions can be done in as little as 5 minutes and can be seen secured after a few hours.
In other words, payments or transactions on Bempire blockchain can be verified and settled in a few minutes. This is valuable for cross-border transactions.
Fully Immutable
Bempire blockchain provides a fully immutable network. This means that nobody can alter any data on the platform’s ledger.
All the transaction information on its system would remain intact.
High-Security Protocol
The blockchain is secured with top-notch security details. It can be set up with two-factor authentication.
It’s hard for cybercriminals or hackers to compromise on the network as the hash function can’t be reverse-engineered. It generates a new one always; thus, making it very hard for hackers to infiltrate.
Bempire Upcoming Events
More info about the tokenomics of Bempire including the ICO amount and time, amount of monthly coin burns, Airdrop program, and creators share will be revealed with the official unveiling of the Bempire and its whitepaper.
Bempire official site and its blockchain explorer would be launched in the upcoming days. There’s also an unveiling for a grid website, which provides necessary information for creators and developers.
The official BEM foundation’s SWAP and Stable Coin will be released following the launch of Bempire. Also, the BEMT and BCN tokens with the BemChain project will migrate to Bempire blockchain.
Bempire blockchain offers high transaction speed with low transaction costs. It brings fairness and more transparency to the Crypto world.
With its Smart contracts, Bempire is committed to eliminating the middleman while putting levels of accountability for every party involved in the platform transactions.