INTRODUCTION
- What is Beam?
beam is a strong currency with great privacy, a lot of coin projects have been developed but they tend to be heavy or not decentralized that is why BEAM came into being. beam operates private transactions by default. and it is a store of value where by it stores certain transactions in several block-chain, beam can help to improve other transactions such as time-locked,atomic swaps etc.
beam
what can beam do?
beam is reliable, efficient, scalable form of currency
- it creates an enabling environment for users to be able to have control over their transactions
- it helps in multiply transactions
- beam helps in obscuring transactions values
- beam helps in obscuring day to day transactions from both sender and receiver
Beam works based on Mimblewimblewhich was released in 2016 by a developer. it was named from harry potter saga mimblewimble makes use of a scheme for zero-knowledge range and full anonymity just to ensure that there is validity of amount. in order to ensure privacy and cause a decrease in the block-chain size, mimblewimble serves as an intermediary among single block and multiple blocks there by making the block chain size smaller as compared to other currencies Mimblewimble was implemented from C++ as we all know C++ is a programming language which work based on C. - beam will change the way crypto users store values because of it reliable structure and how it brought the inovative idea of introducing Mimblewimble into it strusture to help guide the privacy of users
beam
current issues- privacy?
with the help of block-chain data can be tracked up to the end point of transactions. this eventually makes it expedient to track back to those involved in the transaction by examining the block-chain which can be seen by the public.
Solution -Beam (based on mimblewimble)
The major strategy behind Mimblewimble is to create and enabling atmosphere for transactions without affecting the networks. Mimblewimble was created in 2016 by a developer through C++, so with the advent of Mimblewimble beam has beam able to scale, accommodate and maintain reasonable block sizes so as to have full control over it privacy.
Under the hood: Mimblewimble
Mimblewimble basically concentrates on
- confidential Transaction
- Transaction cut-through
Confidential Transactions
confidential transaction operates on cryptography, it is a scheme with two properties which are hiding and binding. it provides a safe box which contains some message in it in which only you know. and at an appointed time yo can show it out to let people know of your commitment is valid blinding while the person wouldn't know what came before the key hiding
Transaction cut-through
Block-chain basically are plenty list of transactions which can be thought of as large transactions which can be cut through. in this system, a transaction gotten from a user which has persevered in the block-chain can belong to the receiving user through the means of message and the process of blinding factor. after a transaction is created its records commitment on the block-chain not showing the user or the amount exchanged.
mimblewimble whitepaper
Beam in a Nutshell
beam builds on the premises of Mimblewimble so as to allow users and receivers carry out day to day transactions with maximum security and much privacy. these Mimblewimble has the ability to remove addresses and also amounts in the verification of certain transactions from both users and receivers.