Beam security and confidentiality

in cryptocurrency •  4 months ago

What is beam and how will users' security change?

"Beam is a store coin of truly anonymous value"

Beam emerges as an alternative that allows users to have complete privacy about their transactions. Something interesting about Beam is that the information of the transactions are not stored in blockchain, and they have scalability about it

Beam implements mimblewimble technology

How is it that many of the current blockchains lack privacy?
And why is Beam and Mimblewimble the solution?

Most blockchains lack a confidentiality network, and that's why Beam, together with Mimblewimble technology, offer an outlet for users who want to enjoy total privacy in every financial move

The Mimblewimble technology has some characteristics that make it unique when presenting security and confidentiality to the user, some of these are:

1- if the input is spent on the output, the values ​​are not stored and are mutually canceled
2- No reusable or identifiable addresses
3- Use of blinding to hide values
4- You do not need to store all the verified data
5-They do not use a ring signature

All these unique features allow more confidentiality to the user and likewise allows free exchange

What is the benefit of having the ability to choose levels of privacy according to the use case?

Beam together with Mimblewimble technology allow users to have full control over the data they want to "share"

This brings immense benefits to the user, some of them are:

1- Personal and family security: At the time of making a transaction where your information has not been protected, personal risks are generated, whether of theft, extortion, etc. since the criminal has access to his financial movements and estimates an idea of ​​the capital of the victim
2- Possible Hacks
3- Financial independence

How does allowing smaller blocks increase performance and scalability (Mimblewimble)?

The structure is faster, and stable. Decreases the load and storage that must be done in the system. Having smaller blocks can be explained as a transaction with the least number of intermediaries to reach their final recipient

Use cases

ADRIEL It is a great company and therefore must manage their finances with great care and lately they have been persecuted by lawsuits which go to these areas.

The finance manager has been forced to hide his transactions to avoid the leakage of business information and this is why Beam discovered it.

Now the manager carries out most of the possible transactions for Beam, in order to avoid publishing information about the finances of the company

The team


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