Hello Everyone,
"Assalamu alaikum" I hope you are all well, Alhamdulillah I am also well in your prayers by the infinite grace of Allah, welcome to the Steemit Crypto Academy. The topic of today's homework task is privacy coin so I thank Professor @levycore for introducing us to a Privacy Coins that specially I have learned and learned and understood many new things. I am presenting to you below what I have understood in this homework task with my little experiance.

Source

Privacy Coin's main goal is to facilitate confidentiality when executing transactions so that both its source and destination can be tested. In some cases the user's wallet addresses change regularly, allowing the wallet's balance to be hidden and a combination of address transactions can occur. This demonstrates the effectiveness of privacy coins which are anonymous and unable to trace the sender and recipient. I think every privacy for coins we should all deal with caution and at the same time we should save any information related to it offline instead of online.

Q1: Choose a Privacy Coin and perform a fundamental analysis of the coin in detail.

My chosen privacy: Coin is BAM. BAM is a value-saving cryptocurrency that remains anonymous. One of its core values ​​is privacy. We all know more or less that all transactions and all user information are stored in a personal blog chain. It was established in Israel as a product of a structured non-profit organization
The BMA allows personal transfer of relationships under the P2P model to be personal and history is not publicly stored in blockchains to be valid. This system will not have a public address, it will only communicate directly with the two, so it is a completely confidential . Beam is a hallmark of the DFI sector and aims to address two of Bitcoin's primary problems: traceability and scalability. The Beam Platform allows the MimbleWimble protocol to send and receive money privately and securely. Using this protocol, the beam platform allows transactions to be performed without displaying address, amount and other transaction details in the blockchain. The whole blockchain with fewer records per block benefits because it allows the system to make transactions much faster and more secure. This beam platform plays a pioneering role not only in terms of privacy solutions but also in terms of scalability. This technology allows other blockchains to use it to increase their TPS.

Another thing I consider this beam platform to be is that it is easy to use, very tidy and intuitive and which we see allowing for easy download of a wallet. This beam platform benefits from information about the level of security at the bank and the account of the encrypted user, but each of these transactions is subject to attested and real-time fraud monitoring. Another aspect of my analysis is that the effectiveness beam is designed to solve a real and concrete problem which is privacy. There are many people today who disbelieve in cryptocurrencies because they disclose their meaning to the public. But a cryptocurrency that solves privacy issues will always have their fans.

According to the coin market, the current market value of 1 beam coin is 0.710 USD and current market cap is 63 million dollar. At present the market value is low and the market with low capital is therefore an asset from what I can observe in my analysis which has grown slowly so far this year. Beam is a crypto resource related to BTC. It speaks to the smoothness and depth of the project in which many here are interested to invest. I think since the Beam Coin is important to the privacy of many users it encourages us all to use it more.

Q2: Describe the steps in creating a wallet for the Privacy Coin of your choice.

Now I am presenting to you how to install Beam Wallet with screenshot through my mobile.

In step 1:
First I have to search the Beam Wallet from the Play Store through my cellphone.Then click on the Install option displayed in this screenshot.

In step Two you can see that Bin Walid is being downloaded.

In Step 3, we see that the download is complete on the wallet cellphone.

In Step 4 Notice here in my screenshot I marked and showed you by clicking Create New Wallet we have to go next.

In step-5 According to the next instructions we have to read all the details well and go to the next step by clicking on the eye marked below.

In step-6 Confirm the sheets that were given according to their instructions by typing the ones that I have tried to explain to you with the question mark. You have to type them and click on the next option.

In step-7 Now you have to click on the next option with a password of ten characters as per your instructions here

In step 8, Notice here to click on Start Using Your Wallet before selecting Do You Who Have Any Ginger Beam Wallet Select

In Step 9, you have noticed that your Bimal is in a position to use it completely. Now we can use this wall as our own.

Q3: Explain the reason you chose the Privacy Coin.

The main reason for choosing Beow Coin is the MimbleWimbal protocol, which allows it to work with smaller blogs, reducing the amount of data needed to store and verify. In my view this technology will solve many blockchain specialty bitcoin scalability issues traditionally blockchain blocks contain transaction information and hash-related information. These blogs are heavy and slow to mine on the other hand some information and public administration results in our fast transactions and it removes old transactions from this blockchain.

On the other hand, the beam is a deflationary currency with a limited supply. This means that its value will increase year after year. This speaks volumes about the commitment of its developers. They decided to do the job and show the results first before asking for a few million dollars in advance. This is the third time the platform has registered a vulnerability, as it did in all new projects, in 2019. The team, on the other hand, publicly announced updates and notifications of vulnerabilities instead of hiding the case.

Advantages:

It is still decentralized, user address blockchain is not saved, 18 Form T is a versatile easy to use it accepts various transactions and cryptocurrency exchanges.
The entire management of information is under the control of users within the limits of the law. Users actually decide which information will be visible.
The value of the transaction is hidden, using the history algorithm it is compatible with mining by GPU.

Disadvantage:

It has no old transaction history as old blogs are deleted to improve efficiency.
The main weakness of this confidential coin is the lack of versatility which makes it a favorite for the development of illegal activity on this platform.
We are still unaware of the development of this project as they swim against the current in front of the rest of the controller looking for all transactions.

I would like to say that privacy coins are an alternative protection. A primitive and fundamental feature of cryptocurrencies should be their identification ability and transparency.There are still many users who are still betting on the privacy of their activities. But of course we should invest in these coins knowing better about our privacy coins.
Thanks for reading my homework post.
Cc:
@levycore