Question 1

What is Bellscoin (BEL)?

Accepted Answer

Bellscoin (BEL) is a decentralised, open-source cryptocurrency launched in 2013 by Billy Markus, also known as BillyM2k, before he developed Dogecoin. Inspired by the in-game currency "Bells" from the video game Animal Crossing, Bellscoin operates on a Proof-of-Work (PoW) consensus mechanism using the Scrypt algorithm. It supports merged mining with Litecoin (LTC) and Dogecoin (DOGE), enabling miners to secure the network while simultaneously mining multiple coins. Bellscoin is entirely community-driven, with no pre-mining, venture capital (VC) funding, or team allocation.

Question 2

What is Bellscoin (BEL) used for?

Accepted Answer

Bellscoin (BEL) is primarily used as a digital payment method, enabling peer-to-peer transactions without intermediaries. Its use cases have expanded through community-driven innovations, including:

- **Bellinals and BEL-20 Tokens:** Similar to Bitcoin Ordinals, these allow inscriptions and token issuance directly on the Bellscoin blockchain, enabling the trading and creation of digital art and collectibles.  
- **Decentralised Applications (DApps):** Bellscoin is evolving to support smart contracts and decentralised applications through updates like Taproot and OP-CAT functionalities.  
- **Merged Mining:** Miners can mine Bellscoin alongside Litecoin and Dogecoin, providing enhanced network security and incentivising participation.  
- **Web3 Wallets and Marketplaces:** Tools such as Nintondo offer wallet services, marketplaces, and explorers for BEL-20 tokens and Bellinals.  
- **Donations and Community Funding:** Bellscoin facilitates community fundraising and donations, managed transparently via multi-signature wallets.

Question 3

Who created Bellscoin (BEL)?

Accepted Answer

Bellscoin (BEL) was created in 2013 by Billy Markus (BillyM2k), who later developed Dogecoin. The project was abandoned but revived in December 2023 by a decentralised group of developers and contributors. This revival involved updating its core code to enable modern functionalities, including inscriptions and support for decentralised finance (DeFi) tools.

The project has since gained support from major mining pools, including Binance Mining Pool, and maintains strong ties with Litecoin and Dogecoin communities due to their shared Scrypt algorithm base.

***Although 'BEL' was the ticker assigned at the deployment of the Bellscoin Token's smart contract, it is already in use by another asset that has a larger market presence and higher trading volume on major exchanges. Due to this pre-existing association and to avoid confusion in the marketplace, the alternative ticker 'BELL' has been adopted for this token. This designation is specifically used to ensure that assets are distinctly identified.***