"Meet Beam the solution that offers true anonymity and scalable peer-to-peer transactions"

INTRODUCTION

Bitcoin and the Blockchain have caused a true revolution since its birth in 2008.

The chain of blocks is a concept that raises a huge revolution not only in our economy, but in various types of fields, such as medicine, education, finance and dozens of other industries.

One of the blockchain's best things is that, because it is a decentralized system, there is no need to pay intermediaries, which saves time and conflicts. Blockchain may have problems but without a doubt it is much faster, cheaper and safer than traditional systems, which is why many banking institutions and governments are watching technology.

But one of the biggest attractions of Bitcoin and the blockchain was the possibility of being a decentralized system able to maintain the confidentiality and privacy of financial operations and operators.

At least that was initially believed, but time has shown that this is not the case, since it is possible to track the parties involved in the transactions by analyzing the chain of blocks, as this is publicly available so that everyone can see it. Therefore a careful analysis of how the money has traveled could reveal the user. Or what is the same: it allows to know all the way that Bitcoin has followed from the portfolio that belongs to someone, until reaching the portfolio of another user.

But that has a solution and for this BEAM was born

WHAT IS BEAM?

BEAM is a next-generation confidential cryptocurrency, offering superior scalability based on the innovative "MimbleWimble" protocol, where users have full control over the privacy of their transactions.

WHAT CAN BEAM DO?

Let's talk a little about the main characteristics of BEAM, and thus get a clearer idea of

how you can help us.

Confidentiality

The confidentiality is from the beginning of the Blockchain the touchstone of the same and is perhaps its most coveted feature. Confidentiality in BEAM is guaranteed, since the data of the participants in the transactions are not filed in the blockchain, therefore, not existing, they can not be traced.

One of the most notorious characteristics of BEAM is the ease it offers you to choose levels of confidentiality according to your particular needs. I would like to say that if for some reason you want the operation to be transparent and in plain sight, you choose a low level of confidentiality. If you need to protect it from the eyes of strangers you opt for more privacy and that's it. It's your choice.

BEAM has placed its focus on confidentiality as it is undoubted that privacy is a highly desirable condition when we speak of transactions for a value store cryptocurrency, as there are information that should not be available to third parties, who can take advantage of the same to the detriment of the owner.

Versatility

The blockchain is being used today for hundreds of different industries and functions, since it guarantees greater execution reliability than previous technologies.

Beam allows not only the purchase and sale of valuable coins, but also the implementation of a wide variety of transactions such as:

• Transactions in custody
• Atomic exchange
• Guarantee deposit
• Atomic transactions and
• Transactions blocked by time
• and more

Scalability

One of the strongest headaches that cryptocurrencies such as Bitcoin and Ethereum have is the lack of scalability, which means that as their acceptance grows, transaction speed decreases considerably and costs increase. In BEAM, the "cut" characteristic of Mimblewimble, by reducing the blocks needed to validate a transaction, makes the BEAM block chain smaller than any other implemented in the blockchain. Making financial operations faster.

Sustainability

BEAM is an open source cryptocurrency, implemented from scratch in C ++ by a team of professional developers, is managed by the community and supported by Beam Growth Pool: Which receives 20% of the mining rewards to encourage development and promotion of the same, with the purpose of guaranteeing its self sustainability.

Usability

"It has a wallet for desktop computers and mobile devices, designed to support daily use for individual and small business users."

Compatibility

To guarantee compatibility, an Equihash algorithm was selected which is widely accepted by the GPU mining community and is equipped with a wide variety of tools to administer and execute the nodes.

Under the hood

WHAT IS THAT OF MIMBLEWIMBLE?

In August 2016, an anonymous author published a new protocol, suggesting an elegant approach to the topic of efficient confidential blockchain. It's called MimbleWimble

The concept of it is to enable privacy transactions without obstructing the network. Since the Blockchains themselves, even without added privacy features, are very bulky and computationally heavy.

The name comes from the book of Harry Potter, is the name they gave to the spell to lock the tongue. The truth is that it works because to pronounce that name is difficult and the idea is to lock the operations so that no curious can discover the origin, the destination, or the amount of a transaction.

It is a protocol that allows BEAM to scale to adapt to mass adoption, maintaining blocks of reasonable sizes, while allowing total control over privacy.

Read the full technical document here: 

https://download.wpsoftware.net/bitcoin/wizardry/mimblewimb e.txt

USE CASES

Case # 01

Security when sending critical information

John is a Vice President at a major chemicals company and is currently requesting a multi-million dollar quote from different suppliers.

The quote must be a sealed envelope, so one of the requirements is that it is confidential and that no one can know what amount each one quotes until the time of opening the envelopes. All tenders will be submitted digitally, but it is suspected that in the past there have already been problems of data piracy, which has favored companies with bad business practices.

In his search for a solution John meets BEAM, which is a novel technology that guarantees the inviolability of information thanks to its system designed with Mimblewimble.

Case # 02

Security when making a confidential acquisition

Roberto is the Sports Manager of a prestigious Spanish soccer club and is interested in acquiring a promising prospect, but he knows that when other clubs are interested in trying to affect their liquidity, they will also bid to raise the price of the player.

Roberto agrees that the amounts of his offer is in the most complete anonymity, in order to avoid this practice so common in his environment.

For that, he wants to make his offer within a few hours of the closing of the exchange window, and so that his offer is not possible to be cheated.

If you achieve this your club would get an excellent profit both financial and personal, but does not know of a platform that provides these two important features high speed and total privacy.

At that moment Roberto discovers BEAM and can use this platform to successfully carry out the acquisition of his desired prospect.

Beam Comparison

ROADMAP

EQUIPMENT

INVERSERS

More Information & Resources:

• Beam Website
• Beam Position Paper
• Mimblewimble Paper
• Beam YouTube
• Beam Telegram
• Beam Facebook
• Beam Github
• Beam Bitcointalk
• Beam Medium
• Beam Twitter

Contest sponsored by @originalworks here

I hope you enjoyed this publication!

Thank you for your support Comments, Resteem and Votes

With appreciation from STEEMIT, Carlos

beamtwitter

beam2018