Beam price

BEAM

#1179

Some of the leading team members of Beam include Alexander Zaidelson, Alex Romanov and Amir Aaronson.

Alexander Zaidelson is the project’s CEO. He started his career as a software developer and is an advisor to several startup projects. He has also founded a P2P file-sharing company Nareos.

Alex Romanov, the CTO, has worked with large teams on several complex projects.

Besides working on Beam, Amir Aaronson, the COO, has co-founded several technological companies.

Beam allows financial counterparties to make safe, stable and reliable transactions. This helps eliminate the problem of user data mismanagement, keeping the system cleaner and more secure. Beam’s blockchain was built on the C++ programming language from scratch.

User addresses are kept confidential at all times and are never disclosed to any third parties. Users have total access and control over their privacy, deciding who can access their information and what they are allowed to see.

Beam supports custom transactions of different types, such as escrow, atomic swaps and time-locked ones.

BEAM can be traded on several major cryptocurrency exchanges, including:

• Binance
• BitForex
• Gate.io
• Hotbit
• CoinEx

Learn more about how to buy Bitcoin with our own guide.

Beam is a cryptocurrency that emphasizes privacy, leveraging the Mimblewimble protocol to ensure transactions remain confidential. Launched in March 2018, it aims to address privacy concerns in the digital finance space by offering a platform where transactions, user identities, and account balances are protected. This focus on privacy is a response to the increasing ability of analysts to trace transactions back to their originators in public blockchain networks, challenging the notion of anonymity in digital transactions.

The development of Beam was driven by a team of experienced professionals, including CEO Alexander Zaidelson, CTO Alex Romanov, and COO Amir Aaronson. Their collective expertise spans software development, blockchain technology, and business operations, contributing to Beam's innovative approach to privacy and security in the cryptocurrency realm.

Beam distinguishes itself by providing a secure and private DeFi platform. It combines the Mimblewimble and LelantusMW protocols to enhance transaction anonymity, making it difficult for third parties to access user information. The platform supports various transaction types, including escrow and atomic swaps, offering flexibility and security for financial transactions.

The Beam network is secured using the Equihash proof-of-work algorithm, known for its ability to manage large data volumes efficiently. This choice reflects Beam's commitment to maintaining a robust and secure network for its users.

As for its tokenomics, Beam has a maximum supply of 262,800,000 tokens, with 81,970,000 tokens in circulation as of February 2021. This controlled supply model is part of Beam's strategy to maintain the token's value and stability over time.

For those interested in acquiring Beam tokens, they are available on several major cryptocurrency exchanges. The availability of Beam on these platforms facilitates access for users looking to engage with the privacy-centric features of the Beam network.

In conclusion, Beam represents a significant step forward in the quest for privacy in the digital finance space, offering users a secure and confidential platform for their transactions. Its innovative use of blockchain technology and commitment to privacy and security make it a noteworthy project in the cryptocurrency ecosystem.

The security of the Beam network is a multifaceted approach, leveraging advanced cryptographic protocols and algorithms. At its core, Beam employs the Mimblewimble protocol, which is renowned for its ability to ensure both privacy and scalability in transactions. This protocol facilitates confidential transactions, where the values transferred are encrypted, yet verifiable by the network to prevent double-spending or fraud.

Further enhancing privacy and security, Beam integrates the LelantusMW protocol. This addition allows for an even higher degree of anonymity by enabling users to break the link between their transaction's history. It's a significant step forward in ensuring user transactions remain private and secure, safeguarding against potential privacy vulnerabilities.

For its consensus mechanism, Beam utilizes the Equihash proof-of-work (PoW) algorithm. This choice is strategic, as Equihash is designed to be ASIC-resistant, promoting greater decentralization of the mining process. By doing so, it ensures that no single entity can gain a majority control of the network's hash rate, which is crucial for maintaining the network's security and integrity.

Together, these technologies provide a robust security framework for Beam, ensuring that transactions are not only private and untraceable but also secure against various types of cyber threats. This comprehensive approach to security is what underpins Beam's network, making it a secure platform for conducting confidential and anonymous financial transactions.

Beam, a privacy-oriented cryptocurrency, is designed to address the inherent public nature of traditional blockchain transactions which can compromise user privacy. Leveraging the Mimblewimble protocol, Beam enhances privacy by ensuring that transaction details and user identities remain confidential. This is achieved through the implementation of advanced cryptographic techniques that allow for the encryption of transaction amounts and the obfuscation of sender and receiver information.

The primary use of Beam is to facilitate private DeFi transactions and payments, offering users a secure and anonymous means of engaging in financial activities on the blockchain. This positions Beam as a valuable tool for individuals and entities looking for privacy in their financial dealings, without sacrificing the benefits of decentralized finance.

Beam's utility extends beyond simple transactions. The platform supports a variety of transaction types, including escrow and atomic swaps, which are essential for secure and trustless exchanges between parties. Furthermore, its time-locked transactions add an additional layer of security and flexibility, enabling users to set conditions for when funds can be accessed.

Despite its focus on privacy, Beam faces challenges such as technical difficulties and scalability issues, common among emerging technologies in the blockchain space. However, its unique value proposition in providing confidential transactions makes it a noteworthy participant in the broader cryptocurrency ecosystem.

As with any cryptocurrency, potential users and investors are advised to conduct thorough research before engaging with the platform. This includes understanding the technology behind Beam, its market position, and the broader implications of using a privacy-focused cryptocurrency in their specific context.

Beam, a confidential decentralized finance platform, has experienced several significant milestones since its inception. These events have shaped its development and contributed to its ecosystem's growth. Notably, Beam's journey began with its launch in March 2018, leveraging the Mimblewimble protocol to enhance transaction privacy and security. This foundational technology set Beam apart by offering a solution to the increasing concern over the traceability of transactions in public blockchains.

A pivotal moment in Beam's history was the establishment of the Beam Foundation Limited, a step that underscored the project's commitment to governance and sustainable development. This move was crucial for fostering a community-driven approach to decision-making and project evolution.

Further enriching its ecosystem, Beam announced the launch of its gaming blockchain. This development marked Beam's foray into the burgeoning blockchain gaming sector, offering developers the tools and infrastructure to create decentralized gaming experiences. The release of official Software Development Kits (SDKs) for game developers was a complementary effort to lower the barrier to entry for creating blockchain-based games, thereby encouraging innovation and participation from a broader developer community.

In addition to these developments, Beam has actively engaged with its community through events such as the Beam x Nostr Summer Hackathon. Such initiatives not only foster community engagement but also drive innovation within the Beam ecosystem.

Another noteworthy event was the Beam emissions halving, a significant occurrence in the life cycle of many cryptocurrencies that can impact supply dynamics and market perception.

Lastly, Beam's integration of DeFi, NFTs, and DEX into its platform represents a strategic expansion into key areas of the crypto space. This integration signifies Beam's adaptability and its ambition to offer a comprehensive suite of privacy-focused financial services.

These key events collectively highlight Beam's ongoing efforts to innovate and expand its ecosystem. As with any investment in the crypto space, potential investors should conduct thorough research to understand the risks and opportunities associated with Beam and its technology.