What is BEAM??
if you ever wonder if there is a private and secure way to work with cryptocurrencies by leaving no trace of your transactions, well, you REALLY should read this article.
BEAM is an upcoming cryptocurrencie that aims to have a high level of privacy and confidentiality never see it before in the world of cryptos and blockchains based on something callend MimbleWimble protocol which ill explain a little later.
What BEAM´s offer to us?
The user, have a complete control over its privacy! That means tha you and only you have acces to your personal data and decide to wich parties is avaliable.
here there are no penalties for confidentiality, which means that the private transactions made through BEAM do not generate any type of overload in the blockchain generating penalties in performance or anything like that.
No needs for trusted setup.
It is mined using Equihash Proof-of-Work algorithm.
There´s no addresses stored in the blockchain, which means anyone can se the status, the origin or the end of any transaction made, increasing the confidentiality.
Among other features of this type that only strengthen security and increase confidence in this platform.
The actual problem with the privacy on the Blockchain:
Cryptocurrencies are awessome, and since its appearance, there have been many people and companies that have undertaken in this field as well as many projects that have been carried out through this wonderful method of doing business online. However, privacy has been gradually affected while the blockchain has been evolving.
At first it was suggested that privacy would be one of the main characteristics of the acclaimed BItcoin, as well as many other cryptocurrencies in the market. But over time and with the experimentation and studies it has been determined that there is always revealed information, and sometimes this information can be linked directly with the private identity of the users.
Here is Where MimbleWimble comes to fix the problem!
Apart from being a spell in the Harry Potter saga, Mimblewimble is also a tool that gives to the cryptocurrencies users a high level of privacy by adding a hiding factor, encrypting the value of a transaction, giving a total level of confidentiality in the identity of the entries and exits of the transactions.
I think that privacy must be primordial in a world as conglomerate as this, where millions of people make daily transactions. For this reason Beam is seen as a promising offer in this field, with innovative features that could change the way of doing business in the blockchain.
On this video you can learn about Waht Beam is from he's CEO, Alexander Zaidelson:
This article is my entry for the Writing Contest sponsored by 
By going to any of the links below, you can learn more about this project:
My tweet:
https://twitter.com/vsateriale/status/1039009726376411136
- vsateriale
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