The Beam is a privacy coin based on the MimbleWimble protocol. Beam is one of the new wave of coins implementing the MimbleWimble Protocol. Beam Africa had a great 2019, and 2020 is expected to look Epic. Several substantial-tech updates are expected this year.
Sydney Ifergan, Crypto Expert tweeted: “We wait to see if Beam will offset the issues inherent in privacy coins. We need to see if Beam will truly return privacy to people as stated by Alexander Zaidelson.”
Beam is one of the many efforts to deal with the shortcomings of the existing privacy coins. Grin and Beam were launched just a few days apart. Beam facilitates for stronger control over one’s privacy. The users should turn on their privacy features if they do not want their transactions treated as public. Private is not by default. However, if the investors enable the feature, it is honored to the core.
The users will be able to determine if they can be private or otherwise. They can decide which information will be available to which parties and what can be exchanged with the Beam Platform. Beam facilitates advanced scalability by keeping the blockchain lean and compact. The structure sustains the longevity of the cryptoverse.
The Beam network makes use of the “scriptless script,” therefore facilitates more than just transfer of value. The token supports escrow, atomic swaps, and time-locked transactions. The major mission for Beam is to concentrate on the privacy element. The network integrates Escrow, Atomic Swaps, and Time-Locked Transactions. Further, the protocol provides for the integration of unforgeable digital signatures. The network is auditable on demand.
Beam Privacy takes necessary
Architectural steps. “Not only a
Web Wallet, but a wallet service that will allow $BEAM to be
easily integrated with existing wallet providers.”
A YouTube Video by Alex Romanov provides a clear insight into the ongoing development of the Beam Trustless Wallet Service.
There are several shops and markets that accept Beam. A wide range of services, starting from accounting, hosting solutions, and VPN, accepts Beam. The token is also accepted for Gaming, Gambling, and donations.
The token depends on miners to add the transaction block to the network. Beam Hash II a modified version of Equihash (150,5) proof of work mining algorithm.
The Mining Calculator can be used to estimate the coins per block, network hash rate, block time in seconds, GPU card, Hashrate, Number of Cards, GPU card Wattage, Beam Price, and Electricity cost per kW/h.
A finance graduate, Maheen Hernandez has been drawn to cryptocurrencies ever since Bitcoin first emerged in 2009. Nearly a decade later, Maheen is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies. Appreciate the work? Send a tip to: 0x75395Ea9a42d2742E8d0C798068DeF3590C5Faa5
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