Beam Network (BEAM)

Introduction to Beam Network (BEAM)

Launched in early 2019 Beam is privacy focused network based on two blockchain protocols called MimbleWimble and LelantusMW allowing gamers and developers to collaborate and engage in an open-source gaming experience with benefits of transactions anonymity, address balances and user identities.

Through it’s innovative approach Beam ensures that all transactions are private by default providing layer of security that attracts gamers who value privacy above all else.

As network develops further it plans to introduce more features that will enhance user experience and expand its functionalities to support wider range of applications beyond gaming such as secure messaging and decentralized finance (DeFi).

These additional features aim to leverage Beam’s strong privacy and security framework to create more versatile platform that can be used in various sectors.

With these expansions Beam aims to attract a broader audience and cement its position as a leading privacy-oriented blockchain. This strategic growth will not only benefit existing users but also draw in new users looking for robust privacy focused networks.

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The Genesis of Beam Network

As mentioned in Intro Beam Network was founded with aim to enhance privacy and security in digital transactions using blockchain technology while addressing scalability issues.

It was launched in 2019 and quickie drew attention because of its use of innovative blockchain protocols specifically MimbleWimble and later LelantusMW.

These technologies were chosen for their potential to offer better privacy and scalability. Network claims to be capable of processing 4500 transactions per second which compared with Ethereum that typically handles around 20 to 45 transactions per second represents significant improvement in scalability.

This high transaction throughput make Beam Network particularly appealing for application that require fast and private transactions such as gaming.

Key figures in development of Beam include Amir Aaronson, Romanov and Alexander Zaidelson CEO who has been a vocal advocate for privacy in blockchain.

Early milestones for Beam included first release of its desktop wallet and completion of first hard fork in August 2019 which introduced new features and improvements in system’s stability and user interface.

Beam’s Underlying Technology

Mimblewimble protocol named after spell from Harry Potter series is one of core driving technology behind beam.

This protocol is different from traditional blockchain structure as it allow for transaction data to be encrypted and condensed leading to increase privacy and reduced blockchain size.

Beam was one of first project to adopt this protocol and has since optimized it for even greater efficiency through LelantusMW.

Additionally Network enhances privacy by encrypting transaction values and obfuscating addresses involved in transactions.

It also offer better scalability as its compact chain is more manageable in size and processing requirements compared to traditional blockchain like Bitcoin.

Beam Network’s Core Features

One of standout features of Beam is support for confidential transactions. This means that details of every transaction including sender receiver and amount are hidden from Public.

This is achieved through cryptographic techniques including homomorphic encryption which allows for some operations to be carried out on encrypted data.

Lelantus-MW a recent addition to Beam’s protocol stack further fortifies its privacy capabilities. It extends privacy features by breaking links between transaction inputs and outputs making tracing history of any coins extremely difficult if not impossible.

This meaks Beam an attractive option for users looking for high levels of privacy in their digital transactions.

Gaming developers are already taking advantage of these feature to create secure and private gaming environments where players can transact and interact without risking their anonymity or exposing sensitive information.

This not only enhance gaming experience by adding a layer of security but also opens up new possibilities for monetization and trade within games fostering a more vibrant and secure ecosystem for developers and players alike.

Beam’s innovative privacy features set it apart in market where digital security is increasingly valued.

Beam Network’s Market Position

In terms of privacy-focused blockchains Beam competes in market with cryptocurrencies like Monero and Zcash.

Each of these has its own approach to privacy but Beam sets itself apart with use of MimbleWimble protocol which provides scalability in addition to privacy and gaming applications that require fast secure transactions.

Platform’s ability to process translation both privately and quickly appeals to wider range of Niches beyond simple currency exchanges such as in-game purchases and rewards systems which are becoming increasingly popular in digital and virtual gaming worlds.

Beam Tokenomics

Project token model is designed with deflationary aspect that include period halving of black rewards which reduces rate at which new tokens are generated.

This is similar to Bitcoin’s monetary policy and is intended to help preserve’s token value over time.

Initial coin distribution was done without ICO or pre-mine which has helped to foster community trust and engagement.

During first year of project launch, the reward was 80 BEAM tokens per block with rewards halving every four years.

Beam Network’s Contribution to DeFi

It has ventures into DeFi sector by introducing various applications that incorporate its privacy protocols. These include confidential assets and decentralized bridges to other cryptocurrencies.

Integration of privacy feature into Decentralized finance applications on Beam platform allow users to conduct various financial transactions without exposing their financial history or amounts which is significant advancement in DeFi space making it highly attractive option for users who prioritize discretion and security in their financial dealings.

This aspect of privacy not only enhance user confidence but also broaden potential for adoption of DeFi applications among those who may have previously been hesitant due to privacy concerns.

The Beam Foundation: Governance and Vision

In Governance of network Beam Foundation plays central role in network. It oversees development and strategic direction ensuring that Beam stays true to its initial vision of privacy and decentralization.

Community and stakeholders have active role in networks governance through voting on proposals that impact development and implementation of new features or changes within network.

This participatory approach ensure that decision reflect interest and inputs of those most invested in network success.

The Beam Foundation also regularly engage with community via forums updates and open discussions to maintain transparency and foster a collaborative environment.

How to Acquire and Store Beam

Acquiring Beam token is easy thanks to its widespread adoption across all major DEXs and Centralized Exchanges.

From Binance to Bybit, Gate.io and DEXs like Uniswap and 1inch Beam is available for trading against various pairs ensuring accessibility for diverse range of investors.

After purchasing it is essential to store securely. The recommended method for Storing Beam is using official Beam Wallet which is designed to leverage full privacy capabilities of MimbleWimble protocol.

Native wallet is available for download on multiple platforms including Windows, MacOS and Linux as well as Mobile version for iOS and Android. The official Beam Wallet provides features such as privacy and control over funds.

For added security its important to enable additional features like password protection and backup wallet regularly to an external drive or cloud storage to prevent loss of funds due to device failure or other issues.

Future Trajectories and Innovations

Upcoming developments in Beam’s roadmap include enhancements to its already robust privacy features with further integration of LelantusMW Protocol improvement that aim to expand its privacy beyond simple transaction network to more complex contract interactions model.

Another significant area of development is scalability through second-layer solutions like payment channels or sidechains aiming to support higher transaction volumes without compromising network security or privacy.

Gaming sector is also key focus with plans to implement gaming platforms that use Beam’s privacy and scalability features.

This will allow for secure anonymous in-game transactions and creation of decentralized gaming ecosystems where players can safely trade and monetize digital asset without compromising privacy.

These innovations could potentially transform how value is exchanged in virtual environments making Beam a critical player in blockchain based gaming.

Conclusion: The Significance of Beam Network

In the end, I would say Beam Network has made significant advancement in privacy and blockchain technology distinguishing itself through implementation of Mimblewimble protocol and enhancement like LelantusMW protocol.

These technologies enable platform to offer superior transaction privacy and scalability feature that are essential for modern digital transactions.

Reflecting on network potential to influence future of secure and private digital transactions it’s clear that as digital privacy concerns continue to grow, Beam’s technology offer compelling solution.

Its focus on enhancing privacy without sacrificing performance or usability positions it as potential leader in fostering more secure digital environments.

This could have widespread implications not just within cryptocurrency circles or gaming but also in broader applications such as digital identity protection secure voting systems and confidential business transactions.

Beam’s continued innovation and commitment to privacy and decentralization are likely to make it an influential force in shaping the landscape of blockchain technology and its application across various industries.

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Therefore, we are not responsible for the investment decision in Beam Network (BEAM) and the resulting loss.

Beam Network (BEAM) Basics

Here are some factors that investors should consider before investing in Beam Network (BEAM).

Cryptocurrency Features	Beam Network (BEAM) ()
Publisher or Developers
Headquarters (Registration Number)
Symbol
Platform
Published Date (CMC Registration)	2024-10-02
Max Supply	958,691,258,152,859

Reliability Score of Beam Network (BEAM) in 2024

These are indexes mesuring the investment reliability of Beam Network (BEAM) conducted by Coin-Labs.com.

Investment Reliability Rating Items	Scores and Current Status
Company Activation Rate	/ 10.0 CAR
Communication Rate	/ 10.0 CR
Technology Transparency Rate	/ 10.0 TTR
Development Participation Rate	/ 10.0 DPR
Listing Status on the World's Top 10 Exchanges	Listed on 0 Exchanges
Number of Available Pairs Worldwide	1 Pairs
Market Cap of the Cryptocurrency	6,683,329 USD (Rank #1295)

The table above shows the result of investment suitability evaluation for Beam Network (BEAM).
Check out how we evaluate cryptocurrencies on the crypto rating description page.

Beam Network (BEAM) Price

Here are the price and recent trading volume of Beam Network (BEAM). (Data of 2024-10-03 00:15:00)

Price Items	Price and Trading Volume of Beam Network (BEAM)
Beam Network (BEAM) Price	0.000 USD
Price Change 24h	-5.48%
Price Change 7d	-4.99%
Trading Volume 24h	11 USD
Trading Volume Change 24h	-82.47%

Cryptocurrency Metadata

You can check the development status and social media information of Beam Network (BEAM) through the links in the table below.

Metadata Source	URL
🌎 Official Website
📖 White Paper
🛰️ Source Code (GitHub)
🐦 Twitter
🤖 Reddit
🎺 Message Board

Where to Buy Beam Network (BEAM)

Here are the top ten world crypto exchanges where traders can buy Beam Network (BEAM) in 2024.

Top10 Exchanges	Listed Status	Page URL
Binance	Not listed
Coinbase	Not listed
Kraken	Not listed
KuCoin	Not listed
Bitfinex	Not listed
OKX	Not listed
Huobi	Not listed
Bitstamp	Not listed
Bybit	Not listed
Gate.io	Not listed

Frequently Asked Questions