Being a privacy-focused crypto, it has been getting popular with its innovative “Mimblewimble protocol”. Designed to offer security and anonymity, the company wants to revolutionize the way transactions are conducted in the crypto industry, ensuring user confidentiality. This text is dedicated to discovering what is BEAM crypto and where to buy BEAM coin.
What is BEAM’s current price?
Coinmarketcap says that the coin’s price is $0.03332 at the moment of writing. For those who are interested to know the ATH: it was $3.18, which took place 5 years ago in January. The ATL was $0.02492 9 months ago in September.
How does BEAM work?
It operates on the Mimblewimble and Lelantus protocols. The 1st one designed to enhance privacy and scalability in crypto transactions. Unlike traditional blockchain systems, the above mentioned platform’s blockchain does not store the entire transaction history. Instead, it consolidates transactions, removing intermediary info and creating a more compact and efficient ledger. This ensures that only the parties involved in a transaction can access its details, effectively anonymizing the transfer of funds.
Lelantus, an advanced privacy protocol that enhances anonymity by allowing to tear the link between sender and receiver addresses. This is achieved through a process of burning old coins and minting new ones, making it extremely difficult to trace transactions. Additionally, the team employs a user-friendly wallet interface that supports both desktop and mobile platforms, ensuring accessibility for a wide range of users.
The company and its team, overseeing the project, is determined to be transparent and continuously improve, regularly updating the community on development progress and future plans. The team also focuses on interoperability, with plans to integrate with other blockchain ecosystems, thereby expanding its utility and reach. Furthermore, its devotion to decentralization is evident through its governance model, which allows stakeholders to participate in decision-making, ensuring that the project evolves in a manner that benefits the entire community.
At the core of the platform’s operation is the use of confidential transactions and zk-SNARKs. Confidential transactions obscure the amounts being transferred, making it impossible for outsiders to determine transaction values. Meanwhile, zk-SNARKs allow for the verification of transaction validity without revealing any info about the transactions themselves. Together, these ensure that the platform maintains a high level of privacy while still allowing for the necessary verification processes that secure the BEAM network.
It also implements a unique approach to address management and storage. It utilizes a system of temporary and permanent addresses, giving users control over their transaction history. By supporting all kinds of transactions, the platform gives flexibility and safety. The combination of these features positions the project we are talking about in this article as a robust solution for those seeking enhanced efficiency in the ever-evolving world of crypto.
Why Use BEAM?
It offers several compelling reasons for users to choose it as their cryptocurrency of choice. Primarily, its focus on privacy and confidentiality ensures that all transactions remain secure and anonymous, protecting users from potential surveillance and data breaches. The protocol which the project employs, significantly reduces the size of the blockchain, leading to faster transaction speeds and lower fees compared to many other cryptocurrencies.
Another advantage is its flexibility in transaction management. With support for both temporary and permanent addresses, users have greater control over their privacy settings and can manage their transaction history according to their preferences. This flexibility extends to the ability to conduct both online and offline transactions, catering to a wide range of use cases and user needs.
Additionally, the continuous development ensures that it remains at the forefront of technological advancements in the crypto world. Regular updates and enhancements contribute to the network’s security, efficiency, and user experience, making it a good choice for individuals and businesses alike searching for a safe, confidential, and efficient crypto.
Beam transaction speed
In theory, it achieves transactional finality in about one second, meaning that transactions are confirmed as final almost immediately after they are made. This rapid confirmation process enhances the user experience by eliminating the long wait times typically associated with transaction finalization.
BEAM technology
The crypto technology leverages the Mimblewimble protocol to offer enhanced privacy and scalability for cryptocurrency transactions. BEAM consolidates transactions to create a more compact ledger, thereby improving efficiency and confidentiality. Key technologies such as confidential transactions and non-interactive zero-knowledge proofs ensure that transaction details remain hidden from outsiders while maintaining the integrity and validity of the transactions.
Beam Basics
Here is the basic info on the project:
- The relevant price for 1 coin is $0.03345 at the moment of writing;
- BEAM network was launched in 2019;
- ATH is $3.18 and ATL is $0.02492
- There’s a max supply of more than 262m tokens;
- The coin may be bought\sold on most exchanges like Binance, BitForex etc but you can also make a BEAM swap on SimpleSwap instant cryptocurrency exchange.
The Beam Founders
The project’s team is actually not anonymous, because you can find the name on the Internet crypto sources. The leader of the project is Alexander Zaidelson.
Uses of BEAM
Now let’s take a look at the key use cases of the project, which might attract the attention of potential investors.
Beam Mining
There’s an opportunity to mine tokens or buy them via any crypto exchange that has this coin on their listed coins catalog.
Beam Payments
Allows to benefit from faster transaction speeds and lower fees for everyday payments and transfers.
Beam Confidential Assets
It enables the creation of Confidential Assets, which are inherently private by default.
What makes BEAM so special
It enables financial counterparties to conduct transactions that are secure and dependable. This addresses the issue of user data mismanagement, ensuring a cleaner and more secure system. The Beam blockchain was developed from the ground up using the C++ programming language.
User addresses are always kept confidential and are never shared with third parties. Beam supports various custom transactions.
However do not forget to do your own research and learn what is BEAM crypto before investing into this project. This should be your decision to buy any crypto asset.
