Problem
Currently there are security problems in virtual wallets where cryptocurrency transactions are carried out, common wallets show the register of our transactions, which user receives and which user sends coins of different types, this makes monitoring of any person easy. tracking, exposing users and showing that wallet security is not good. Beam is a new cryptocurrency where we can carry out transactions in our wallets in a safe way, since it has the tools and features to give the best security in the virtual wallets.
To give solution to this lack of privacy, the technology is born a new currency with a secure wallet called BEAM
WHAT IS BEAM?
Beam is a currency that has important characteristics of the blockchain system and the bitcoin currency. Beam users have full control over their data and transactions and this is maintained in full privacy if the user so wishes.
Characteristics
Confidentiality: Beam does not keep records of transactions made by users.
Versatility: Bean not only allows value transactions but also atomic exchange, escrow and transactions blocked by time thanks to the "Script Script" technology.
Scalability: Thanks to the "cut" feature of Mimblewimble beam it is a stable platform because computational overload is avoided.
Sustainability: To incentivize and beam development, 20% of the block mining rewards goes to this group.
Usability: Beam provides a wallet for desktop and mobile computers that can be used by all individual users and small businesses easily.
Compatibility: Beam has extensive tools that serve for mining and for the wide adoption by the miners of the GPU an Equihash algorithm was selected
Source
Source
What is the benefit of having the ability to choose levels of privacy according to the use case?
When we perform transactions we need that the user who will receive the payment knows that it comes from a specific user, it is important for both the sender and the receiver that this information is visible but not on all platforms this is possible, with Beam we can have levels of privacy where we will hide this information according to what suits us.
How does allowing smaller blocks increase performance and scalability (Mimblewimble)?
The smaller blocks provided by Mimblewimble cutting technology save us unnecessary steps making the process faster than normal, thus increasing Beam's performance.
Its attributes outperform other blockchain currencies
WHAT IS Mimblewimble?
"Mimblewimble is a protocol published by an anonymous author; very similar to the famous Satoshi Nakamoto; Bitcoin creator! "
"Mimblewimble focuses on (a) Confidential transactions and
(b) Reduction of transactions. "
"(A) Confidential transactions use a cryptographic commitment scheme with two basic properties: concealment and linking."
"It's similar to giving someone a locked safe with a message inside which only you know the combination. When the time comes, you can reveal the key and the person can make sure that your commitment is valid (blinding) while she can not know what it was before the key is received (hidden). "
"(B) Reduction of the transaction:"
"A block in a chain of blocks is a large list of transactions and can be considered as a large transaction to" cut "(combining all transactions between AZ). Applying this principle even further from the individual blocks to the entire blockchain creates a system that only needs the current state of transactions instead of the complete history of all transactions as they occurred (which is how Bitcoin works). "
"With this system, it can be proved that the exits of unspent transactions (a transaction received by a user that has persisted in the chain of blocks) belong to the receiving user through the value of the message and the value of the blinding factor. After creating the transaction, only the commitment is recorded in the block chain; not the addresses of the users or the quantities exchanged. "
"Reducing the amount of data required to store and verify transaction data allows Mimblewimble to work with smaller blocks!"
Source
How does it work
Team
Conclusion
In conclusion Beam is a coin that has a purse based on Mimblewimble technology that allows us to conduct our transactions directly, safely and quickly.
"Basically, instead of trying A -> B -> C; You can make Beam A -> C increase your privacy and decrease the load on the system! "
More information and resources
Beam Website
Beam Position Paper
Mimblewimble Paper
Beam YouTube
Beam Telegram
Beam Facebook
Beam Github
Beam Bitcointalk
Beam Medium
Beam Twitter
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