All this has been changing since the Blockchain technology and the crypto currencies arrived, decentralization, privacy and security in every transaction made within any blockchain is simply something fascinating for all those who seek not to be seen or found at the time of moving their money, however, the currency protocols we know today do not have 100% security and privacy necessary to not track a transaction. Blokchains such as Bitcoin or Zcash doing an exhaustive investigation could be possible to trace a transaction back to the origin giving vulnerability to the holder of such funds, where there can always be some data leakage.
It is through this problem that a project called "BEAM" is born that without a doubt thanks to its technology will change all the security, privacy and scalability in the whole Blockchain ecosystem.
What is BEAM?
BEAM is a currency that was designed to provide its holder with the greatest security, privacy and scalability to all who use it. In short, it is a truly anonymous currency that gives users total control over their privacy and what they really want to share in the chain of blocks.
What are BEAM's Characteristics?
BEAM's characteristics position it as the leading cryptomontage in confidentiality and scalability of the entire ecosystem. All thanks to the protocol in which it is based that has the name "Mimblewimble", thanks to this we can highlight the following most important aspects that BEAM has:
Confidentiality:
Each of the transactions that are carried out in this blockchain are private, which means that no operation is recorded in it, completely minimizing the risks of a possible trace that find the whereabouts of the user in question.
Versatility:
The technology called "Script Script", gives an innovative feature to the Blockchain that composes it, and is that this allows many types of transactions to be implemented that not only allow simple payments, but can be executed according to a specific period of time while a condition is met by any service we are hiring, for example, or simply a deposit in guarantee, undoubtedly a very peculiar aspect that only BEAM allows and that is totally innovative in the ecosystem blockchain.
Scalability:
One of the most important characteristics of BEAM's Blockchain is undoubtedly the scalability it has thanks to the "Mimblewimble" protocol, since thanks to it it avoids overloading the chain of blocks as it grows, problems that we have already seen in crypto currencies such as Bitcoin and this protocol fights very efficiently allowing fast, private and secure transactions without problems.
Sustainability:
Without a doubt, one of the aspects that attracts BEAM's most attention is the way in which its governance is distributed, since the community has control of this cryptomone in greater proportions. It is also supported by Beam Growth Pool, an initiative that distributes 20% of the rewards obtained from mining in order to develop more and more the project in terms of promotion and sustainability over time.
Usability:
Something that undoubtedly makes a project really attractive is the use that can be given in different aspects of our lives or work. BEAM has wallets for all the devices that exist either: mobile or desktop computers and it has an integrated panel quite intuitive that would allow the commercial administration of any company that would like to implement it as a means of payment for their employees or also for individual uses and management of capital without problems.
Compatibility:
Due to the selection of an algorithm called "Equihash", Beam allows mining activities to be much broader for those who have GPU giving facilities in high proportions and with many tools to install mining nodes without any setbacks, something very important that will allow its adoption is even greater over time.
In the following table we can see a comparative table of BEAM with other crypto currencies
What is Mimblewimble the central protocol on which BEAM is based?
Image of xresch from Pixabay - 
To understand the concept the objective that has "Mimblewimble" is not very complex, its mission and objectives are to provide the greatest privacy in each of the transactions without the network achieve overload and is not obstructed, with this premise this technology will allow BEAM to be fully scalable proportionally reducing the size of each block and thus avoid such congestion that in the future cause bifurcations in the chain to improve its usability and weight in time.
Although it is a coincidence Mimblewimble just like Bitcoin was created by a person who so far remains anonymous to all, but certainly has left us an incredible technology that increased the massive adoption of BEAM by the features on which it focuses. Basically the main features that this protocol runs are:
- Confidentiality in Transactions
- Reduction of block transactions.
Of these two there is not much to say since it is understood which is the objective of the same one, simply the confidentiality of the transactions is given by the cryptography, but with much more committed measures that make that each transaction is linked and at the same time hidden, allowing the total anonymity in the Blockchain what will give as consequence that the transactions cannot be tracked like in other chains.
The second thing that is the reduction of transactions in Blocks is what allows Mimblewimble to execute, since what it essentially does is to work with smaller blocks, reducing the amount of data required for storage in the blocks. This results in the blocks recording only the commitment of the transaction and not the addresses of the users involved in the operation.
How does BEAM plan to change the way people store their funds?
As already commented BEAM is an incredible technology that will allow a secure and reliable private storage and distribution of money, also as has been experienced in other chains of blocks, security is not totally reliable, as it can be tracked through the data offered by the same Blockchain in which the transaction was made, something that undoubtedly endangers the privacy of all those who want to remain anonymous without showing the amount of funds that are moving from one side to another, this further compromises the integrity of money and even physical of the individual.
For this reason BEAM will change the way all people store value and that, in turn, gives them many uses depending on the situation wants to be implemented, either individually or in a company, everything that allows the Mimblewimble protocol will result in this is the crypto currency par excellence with more security and privacy that users will experience throughout the ecosystem.
Why do today's Blockchain lack privacy?
Image of qimono from Pixabay -
Although the Blockchain itself is decentralized and cannot be modified, they are not totally private and provide very important information that can trigger the tracking of a transaction and find its origin, since the transactions recorded in the blocks reflect the addresses and amounts with which any individual carrying out an exhaustive investigation and who has knowledge can find the origin and compromise the funds. In general, the current Blockchain lack privacy because the data is reflected in the chains of blocks.
What is the benefit of being able to choose privacy levels with BEAM?
The benefit in these cases is extremely incredible, because everything depends on using the Cryptomoneda, a clear example could be for a company, because it allows transactions are hidden and are not tracked or audited, giving total security to the entire business circle, where even with these restrictions you can keep a fairly organized accounting. Another clear benefit is the use that can give a common individual, because if you handle large amount of money could choose to be completely anonymous, but if you are starting a venture or some kind of negotiation that deserves to leave an immutable record and can not be modified to have concrete evidence of a particular payment, could choose a level a little more flexible for the benefit of itself and the counter party.
How does allowing smaller blocks increase performance and scalability with BEAM?
Image of geralt from Pixabay -
The fact that the blocks of a Blockchain are smaller than usual increases by a large percentage the complete performance of the chain, this is simply because by storing less data in it, allows not to overload or use more computational power than usual giving a better response to all the processes involved in making a transaction. With respect to scalability, it also goes hand in hand with the reduction of the blocks as it allows for greater performance as the chain of blocks grows.
Why is it important to have privacy for a crypto currency value store?
The fact that a cryptomoneda works as a store of value is extremely important since it means that its volatility is not as high as the rest of the coins and many people will seek refuge in it so as not to suffer substantial losses of money that diminish people's savings. If these types of coins do not have enough privacy to grant to their users it means that hackers will be behind this currency following the highest transactions made in the chain of blocks, looking for vulnerabilities that allow them to steal the funds of the users, for this reason it is of utmost importance to have privacy in coins of store value.
Conclusion
In general it is a quite interesting project, from my point of view could change a lot of things throughout the ecosystem Blockchain, in addition to increasing adoption worldwide because the fear of many investors is the privacy and security of their money, for this reason BEAM could undoubtedly change greatly the concept of privacy and security with their initiative.
Road map
BEAM Team
Video presentation of CEO Alexander Zaidelson
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