Project Name: Beam
Coin Ticker: Beam
Market Cap: $27,641,725 (as of 9 MArch 2020)
Mining Algorithm: BeamHashII (Equihash Originated)
Block time: ~1 min
Original code base: Code Developed from scratch (Based on the Mimblewimble paper (https://docs.beam.mw/Mimblewimble.pdf )
Founder’s reward or analog: Treasury Model — Backed by a treasury, emitted from every block during the first five years
Development Team: Beam is being implemented from scratch by developers with years of experience in modern C++ system programming.https://beam.mw/team#team
How does the project protect users?
Read “How Beam is different” and “Next step: Lelantus-MW” here.
Privacy By Default: Beam`s privacy is a default, no one can see the sender, the receiver nor the amount. In the near future Beam will allow users to have opt-in audit ability features (sharing the wallet activity with an auditor/CPA Read-Only Wallet).
Wallets: downloaded here
What makes your wallet easy to use?
Beam wallets are extremely easy to use and beautifully designed. The wallet is constantly improving and already include advance features such as: Payment proofs, Contact Book, Never Expire/Temporary address options, Export wallet activity to CSV, Atomic Swap, Sharing owner key to several uses, configuring the node connectivity and much more.
What are you doing to make the wallet more user friendly?
Our next releases will include USD/BTC value indicators, API to Atomic Swap features, Web wallet and more those improvement will take place before our plans Fork (changing to BeamHash3), after the planned POW upgrade we plan to have many more significant improvement such as: Lelantus that will improve the anonymity set, will break link ability and will allow One side payment, another major feature will be Confidentials Assets, Bridges to ETH, instant payment (AKA — Laser Beam [Beam lighting solution]), Tor/i2P integration to will bring an additional level of privacy protection and more, in short 2020 will be epic for Beam!
What OSs does it support: Mac, Win, Linux, very soon Beam will release a Web Wallet version too
GUI Wallet: Yes ( CLI for tech users is also available)
Why is privacy important to your project team?
Privacy is the prevention of unauthorized extraction of information from communications over an insecure channel, it is the best-known problem that the field of cryptography attempts to solve.
There are many reasons why people need privacy: personal, psychological, financial, social, etc. People encrypt for the same reason they close and lock their doors. Encryption can protect criminals, but so do locked doors.
Although there is no explicit “right of privacy” enumerated in the U.S. Constitution, the assumption that an individual is to be secure from absent a valid warrant is central, and dates back to the Carta Magna. That includes random searches and invasive tactics to catch criminals.
There has never been a ruling or law that persons have to speak in a language understandable by wiretappers. Similarly, there hasn’t been a rule banning encrypted communication. Privacy is essentially tied to fungibility in cryptocurrencies. As cryptocurrencies with a public ledger such as Bitcoin often lose fungibility, as some coins are treated as more acceptable than others. A user can unknowingly accept coins involved in questionable transactions, which can taint the entire amount of his/her wallet and result in a loss of reputation.
What makes your project stand out above other projects?
Beam achieves privacy by default, unlike other crypto systems which require an opt-in. Zcash or Monero, for instance, requires users to choose a private transaction, an option which significantly slows down the transaction, and consequently is only used by 4% of the network, in the case of Zcash. In addition Beam focuses on usability and allows every user to easily send/receive Beam in the easiest way possible.
What do you have in the works for future development?
We will launch a family of products that altogether will serve as a foundation for Confidential DeFi, Atomic Swap marketplace will have numerous UX improvement and market-making API. Laser Beam (Instant payments)to enable instantaneous payments.
Web Wallet and Wallet Service API will allow bringing Beam to every browser (and to 3rd party wallets integrations) without sacrificing any bit of the users’ privacy.
Confidential Assets will allow the creation of assets (tokens) on the BEAM platform. On top of that, Bridges will enable us to “wrap” any token/crypto coin confidentially and confidentially send/receive it over the BEAM blockchain.
Opt-in Read-only Wallet (auditor/CPA wallet) to allow compline businesses an easy way to report their activity.
Later on following the development of the Bridges, it will be possible to create Sidechains that will support complementary advanced technologies such as smart contracts, Script-less scripts will enable certain kinds of confidential DeFi applications: anything that does not require distributed smart contracts, e.g. such as lending, synthetics assets, STO
Will have a bunch of Privacy enhancements such as Lelantus MW will be the final frontier of breaking link ability, 1-side payments will allow to send and receive BEAM without any online sync, Tor/i2P will bring an additional level of privacy protection
On a later stage Beam also plans to have SBBS over Dandelion will help to obfuscate every message sender. Beam will keep doing research and development to increase the privacy and usability of the protocol.
What is the path to mass adoption of your project?
With consideration to Beam`s age it is already relatively wide spread within the crypto space, Beam is trades with decent volumes on over more than 30 exchanges, accepted on over 150 stores and the number keeps growing. Beam is still developing the foundation and infrastructure for larger adoption.
Any additional final thoughts you want to include? 2020 will be epic for Beam
Here are relevant link to follow Beam:
Telegram Community: https://t.me/BeamPrivacy
Discord community: https://discordapp.com/invite/BHZvAhg
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