Untraceable cryptocurrency, TOP privacy and TOP security with BEAM

masud1 (44)in #contest • 6 years ago (edited)

Introduction

Since the launch of Bitcoin in 2009, cryptocurrencies have been constantly evolving and new applications are being developed every day. Exciting projects often arise with the promise of improving service delivery, speed and efficient distribution of resources using blockchain technology. These projects are primarily aimed at business solutions and applications in all fields of human knowledge from medicine to the automotive industry.
This situation is far from ideal for the user, since both people and organizations would prefer that their transactions and the balance be confidential and can only be seen by the parties specifically that they authorize. This means that it would be required to limit the visibility of transaction details, including transferred amounts and identities of participants and keeping as little information as possible about transactions in the public registry to avoid future analysis and potential disclosure.That’s the good part, the other one is that cryptocurrencies tend to has transparency, that means than everyone can see what everyone does, this can be a problem for people or companies who doesn’t want to let those transaction to everyone reach…
Because those transaction can be tracked and make vulnerable their owners…
Screenshot (9).png

Why is so important privacy?

As technology keep evolving are the persons who tends to take advantage from others, maybe making target of violation of vulnerability, transactions, users or even passwords from those who move huge number of actives…

Privacy and safety are vital in every aspect of life, in this case, financially speaking its possible thanks to anonymity and encrypt data.

What is "Beam"?

Beam is a cryptocurrency whose main characteristic is privacy, meaning that the data of each transaction can not be tracked as it happens with other cryptocurrencies."Beam is a truly anonymous store-of-value coin". It is a decentralized platform oriented to maintain the anonymity of the user, improving scalability by omitting intermediate transactions that do not have a direct effect on the result. This also reduces the bulky size of Blockchain transactions, making them more portable. Beam achieves speed, scalability and privacy by using an improved version of the Mimblewimble protocol, which ensures that the entire Blockchain can grow to accommodate the massive adoption of cryptocurrencies. Beam has all the enviable operation of Bitcoin, however, privacy is completely guaranteed.

Beam use case

Case 1:

Arturo is the chief financial engineer responsible for applying the most up-to-date technologies to his accounting practices!

One of the problems that CryptoAccounting Inc. faces is the limitation of choice when it comes to privacy. While their corporate clients want to transmit their business transactions to their investors, they want to keep the individual salaries of private employees. Existing Blockchain solutions put employees at risk of privacy violation.

Case 2:

As a consequence of his accident childhood and youth, Ernesto has been anonymous benefactor for some years of a children's hospital, however, he lives constantly with the fear that his identity may come to light, losing his anonymity, in addition to the amounts of your contributions.

One day, his secretary suggested using Beam, which would allow him to continue with his charitable works without his address and identity being known, because confidentiality is a value much appreciated in his charitable works.