Preface

In this modern world of technology the great discoveries of blockchain are maintained, aimed at solving situations of different nature: computing, medicine, automotive and other business. Technology users face volume of transactions daily, being important for them the storage of their cryptocurrencies. what matters most to people is the secure storage of their money and the completion of their transactions. However, blockchains such as Bitcoin have particular characteristics in that they make it possible for people to track data and reduce the origin and end point of transactions. This makes it possible to track the party involved in the transaction by analyzing the chain of blocks that is publicly available for all to see. This implies that even though a cryptocurrency may seem anonymous, a careful analysis of how the money has traveled could reveal the user. Generating all this, a great concern for users who prioritize their security. Ideally for the user as for the organizations, it is that they would prefer that their transactions and the balance be confidential and that they 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.

We can understand then, that although Bitcoin has started a complete revolution since ten years ago, it has not yet been perfected with regard to one of its main use cases: the private transfer of assets in a peer to peer form. Faced with this problem of anonymity and confidentiality Beam is the solution that offers true anonymity and scalable peer-to-peer transactions.

What is Beam?

Source

Beam es una Blockchains, basada en Mimblewimble, la cual hace de ella una red más rapida y eficiente. Con características de privacidad y confidencialidad, que pone al control de sus usuarios todos sus activos, brindando confianza y seguridad, con eficiencia de escalabilidad. Su diseño innovador la perfila en ser una criptomoneda confidencial de próximas generaciones.

Beam based on Mimblewimble

Surge in August 2016, an anonymous author who published a new protocol with an elegant blockchain design with high performance in confidentiality, called MimbleWimble.

MimbleWimble is based on two concepts originally proposed by Greg Maxwell, which are: Confidential Transactions and Transaction Cut.

(a) Confidential transactions use a cryptographic commitment scheme with two basic properties, concealment and linking. The compromise scheme that MimbleWimble uses is called Pedersen Commitment which is achieved using elliptic curve cryptography and is of the form

C = r * G + v * H

Where r is a blinding factor, a secret key that hides the real value v and G and H are generators.

(b) Reduction of the transaction: A block in a chain of blocks is a large list of transactions and can be considered as a large transaction to "cut" (combining all transactions between AZ). Applying this principle even further from the individual blocks to the entire blockchain creates a system that only needs the current state of transactions instead of the full history of all transactions as they occurred (which is how Bitcoin works). With this system, it can be proved that the exits of unspent transactions (a transaction received by a user that has persisted in the chain of blocks) belong to the receiving user through the value of the message and the value of the blinding factor. After creating the transaction, only the commitment is recorded in the block chain; not the addresses of the users or the quantities exchanged.

What can Beam do?

Beam provides:

● Privacy: the user decides what information will be available and to which parties, having complete control over their personal data according to their will and the applicable laws.
● Confidentiality without penalty
● Trust configuration is not required
● The blocks are extracted using the Equihash work test algorithm
● Limited emissions using a periodic division in half with a total amount of coins ~ 210 million
● There are no addresses stored in the block chain, or the sender or receiver.
● Superior scalability using the cutting characteristic of the MimbleWimble blockchain.
● Enabling multiple types of transactions privately: escrow, time locked, atomic swaps, etc.

The Solution - Make (Based on Mimblewimble)

Beam is building its network from scratch in C ++ based on Mimblewimble with which privacy transactions are enabled without obstructing the network.

With the technology of Mimblewimble, now Beam can scale to adapt to the massive adoption and, at the same time, maintain reasonable block sizes, which allowed total control over privacy.

Beam in a Nutshell

With Mimblewimble technology, Beam allowed users to send and receive money safely and privately. With the Mimblewimble protocol, the need for addresses and quantities in transaction verification is eliminated.

The less each block is registered, and therefore the entire blockchain, it must support results in a faster, thinner and more scalable blockchain architecture. The privacy and efficiency of this architecture help each other synergistically!

Basically, instead of trying A -> B -> C; You can make Beam A -> C increase your privacy and decrease the load on the system!

Application of use of Beam

Pedro is a technology developer and works with a team of blockchain developers that provide ongoing advice to large corporations in different areas, be they motor, medicine, and cryptocurrencies. However, their corporate clients in the cryptocurrency area want to transmit their business transactions to their investors, and they want to keep the digital assets of their staff secure and hidden that `can only be seen by some of their investors and not by everyone. The existing Blockchain solutions put investors at risk of privacy violation.

The company that Pedro integrates with the other technology experts is called Caspiancriptografía Inc. In the morning of today they met to review the approaches of their clients in the area of ​​cryptocurrencies and see how they provided a solution to the privacy problem that they required.

Pedro is the main expert of Caspiancriptografía Inc. Responsible for applying the most up-to-date technologies in the cryptocurrency area!

At the meeting, Pedro told his other colleagues that he had discovered Beam, which would help him solve the problems that his customers had in the cryptocurrency area. .

With Beam, companies can control transparency at the corporate level while retaining the privacy of their employees, especially regarding their cryptocurrencies.