Buy Beam

What is Beam?

Beam is a privacy-focused cryptocurrency that utilises the Mimblewimble protocol to ensure confidential transactions by default. It is a decentralised finance (DeFi) platform that operates with a focus on both privacy and scalability, using blockchain technology to facilitate anonymous transactions without reducing performance.

How does Beam work?

Beam operates using a combination of the Mimblewimble and Lelantus-MW protocols, which ensure transaction anonymity and confidentiality by not recording addresses on the blockchain. It uses a Proof-of-Work consensus mechanism with the BeamHash III algorithm, designed to be ASIC-resistant. Beam supports smart contracts through the Beam Virtual Machine, expanding its functionality to allow for complex decentralised applications.

What are the potential use cases for Beam?

Beam's potential use cases include private payments, confidential financial transactions for businesses, supply chain management with private tracking features, and privacy-preserving DeFi applications. It is used in the gaming industry to facilitate transactions and asset transfers, leveraging its low transaction fees and scalability. Beam has established partnerships, such as with Polygon for gaming expansions, indicating its utility in sectors needing privacy and efficiency.

What is the history of Beam?

Beam was founded by a team including Alexander Zaidelson and Alex Romanov and was officially launched in early 2019. Significant milestones include its mainnet launch, successful hard forks to upgrade its Proof-of-Work algorithm, and the introduction of Confidential Assets. Beam has expanded its market presence through listings and partnerships and recently increased its focus on the gaming industry by integrating features that support gaming applications, facilitated by the Merit Circle DAO.