What is Beam?
Beam is a new innovative technology which when used to sore value keeps the transaction private, scalable and very swift.
Most transactions on the blockchain don't have the option of being transparent and private, but with Beam, this would become a thing of the past as not only does it have the control to make transactions transparent and private, for a plus, it ensures a transaction as its network is very efficient.
The issue of privacy while transferring or receiving funds is one of the issues on the blockchain, and this includes Bitcoin which is one of the most popular cryptocurrency that we have.
There is nothing like anonymity for the users as their transaction on the blockchain is made public and as a result of the lack of privacy in these transactions, it is very possible for people to monitor the way data is being sent and also the parties that are involved in the transaction.
Through Beam, the problem of lack of private transference of cryptocurrency would become an issue of the past, then users would be assured of confidentiality while trying to buy or transfer assets.
The core technology behind beam is Mimblewimble, and its name was gotten in reference to the ankyloglossia spell from the famous Harry Potter series.
Through it, multiple private transactions can be made and it would not disclose the address of both the person that would send it and the party to receive it.
Also, with the use of Mimblewimble, Beam would not only allow a complete influence over privacy, it also allows for mass adoption and also maintains block sizes that are rational. Through it, the issue of an obstructed network would become a thing of the past.
How does allowing smaller blocks increases the performance and scalability of Beam?
One of the things that make Beam unique from other Blockchain is that it makes use of small blocks which makes scalability a success and also leads to a very fast network.
Reason why it is important to have privacy for a "store-of-value" cryptocurrency?
The issue of lack of privacy is a very big deal. Since most operations on the blockchain are not private, a lot of people have the access to check other people's transactions which might not be security safe as we have a lot of hackers who keep tracking many transactions in the hope to strike when they get the opportunity to do so.
Examples of Beam use- cases
As the the boss of a very large company, Ben has many employees at different stations. Their salaries differ and he wants to retain the privacy of the amount each of his staff gets. He gets to know about Beam and the problem is solved.
As the head of a very large company, Donald is faced with the issue of trying to control transparency at the corporate level. He got to know about the concept of Beam, and he knew it would be the solution he has been looking for.
Beam2018
https://steemit.com/crypto/@originalworks/1125-steem-sponsored-writing-contest-beam