BEAM "A Confidential Cryptocurrency based on an Innovative MimbleWimble Protocol" (Sponsored Writing Contest by @originalworks)
Hello dear Steemians, today i want to show you my entry for @originalworks Writing Contest sponsored by BEAM
If you want to know about this great Writing Contest and want to participate please enter the following link.
@originalworks Sponsored Writing Contest BEAM
@originalworks Sponsored Writing Contest BEAM
Have you ever thought possible the existence of a platform in the blockchain that protects your transactions and account data privately, removing the risk that your movements are public and thus prevent theft of funds in the virtual wallets of the internet? Well let me tell you that there is a platform that is responsible for ensuring the transactions and data of its users privately and it is called "BEAM" which is an innovative blockchain network that has a Virtual Wallet and also has its own cryptocurrency.
Something to emphasize, is that BEAM is not only this that I mentioned previously, but it is also related to a protocol called MimbleWimble. Somehow, does the word MimbleWimble sound familiar to you? If you are a Harry Potter Fan you will surely recognize it, but if you are not, let me tell you that it is a spell from this saga that means "Tongue Tied". Now after this explanation, do you have the intrigue about what Mimblewimble has to do with the BEAM platform?
Well let me tell you that Mimblewimble is a protocol that works to automate the BEAM algorithms with the purpose of granting confidentiality and absolute control of information to all users, thus allowing security in all the data that is shared regarding transactions inside this platform. On the other hand, through the Mimblewimble protocol, BEAM also manages to make a chain of blocks lighter and with fewer details during transactions, allowing the confiramtions of these transfers to be made more quickly and efficiently.
Another aspect that should be highlighted is that BEAM has the possibility to hide the addresses of the users, both the sender and the receiver as well as the values of the transactions can be hidden for greater security of the privacy of the users who trust in BEAM. Among other aspects regarding transfers, BEAM also has the ability to carry out multiple transactions in a single transaction, as well as to tie blocks in a single transaction and also makes it possible to tie a complete blockchain in a single transaction. And last but not least, BEAM supports all types of transactions privately, from escrow, time locked, atomic swaps, among many others.
Among the benefits of BEAM, it must be mentioned that this is characterized as an immutable and incorruptible blockchain system like Bitcoin, but differentiated in the privacy aspect of the transactions and this is what makes it innovative compared to other platforms, promising security and transparency in the users that use BEAM services. It is also appropriate to mention that BEAM is designed based on the maximum scalability because it has smaller blocks in its platform compared to other blockchain and thanks to this the speed and efficiency in this network is achieved.
Next I will explain to you the characteristics of the BEAM platform "The Scalable Confidential Cryptocurrency"
Confidentiality
With BEAM all the transfers made by the users are completely private protecting the data and funds of the people, granting maximum security thanks to this.
Versatility
BEAM has a technology that allows the implementation of multiple types of transactions that go beyond simple value transactions. Among the varieties of types of transactions are: atomic swapping, escrow, and time-locked.
Scalability
The implementation of the Mimblewimble protocol helps avoid excessive computational expenses thus achieving that the blockchain of BEAM has smaller orders of magnitude in comparison to any other implementation in the blockchain.
Sustainability
In BEAM, an open source code is implemented from scratch governed by the community and supported by Beam Growth Pool: 20% of block mining rewards goes to this pool to incentivize development and promotion of BEAM.
Usability
Among the features of BEAM is also a Virtual Wallet available as an application in PCs and cell phones, which is designed to support its daily use, both for users who generate large businesses, as well as for users who do small businesses.
Compatibility
In BEAM they have an industry-proven Equihash algorithm that was selected to ensure broad adoption by existing GPU miners. Also BEAM comes with an extensive set of tools for running and managing mining nodes.
BEAM has a technology that allows the implementation of multiple types of transactions that go beyond simple value transactions. Among the varieties of types of transactions are: atomic swapping, escrow, and time-locked.
Scalability
The implementation of the Mimblewimble protocol helps avoid excessive computational expenses thus achieving that the blockchain of BEAM has smaller orders of magnitude in comparison to any other implementation in the blockchain.
Sustainability
In BEAM, an open source code is implemented from scratch governed by the community and supported by Beam Growth Pool: 20% of block mining rewards goes to this pool to incentivize development and promotion of BEAM.
Usability
Among the features of BEAM is also a Virtual Wallet available as an application in PCs and cell phones, which is designed to support its daily use, both for users who generate large businesses, as well as for users who do small businesses.
Compatibility
In BEAM they have an industry-proven Equihash algorithm that was selected to ensure broad adoption by existing GPU miners. Also BEAM comes with an extensive set of tools for running and managing mining nodes.
In BEAM, an open source code is implemented from scratch governed by the community and supported by Beam Growth Pool: 20% of block mining rewards goes to this pool to incentivize development and promotion of BEAM.
Usability
Among the features of BEAM is also a Virtual Wallet available as an application in PCs and cell phones, which is designed to support its daily use, both for users who generate large businesses, as well as for users who do small businesses.
Compatibility
In BEAM they have an industry-proven Equihash algorithm that was selected to ensure broad adoption by existing GPU miners. Also BEAM comes with an extensive set of tools for running and managing mining nodes.
In BEAM they have an industry-proven Equihash algorithm that was selected to ensure broad adoption by existing GPU miners. Also BEAM comes with an extensive set of tools for running and managing mining nodes.
Mimblewimble as I explained at the beginning has the origin of its name with the saga of Harry Potter, since it refers to a spell of (Tongue Tied) and this protocol is based on two concepts that characterize it:
Confidential Transactions:
It is characterized by the implementation of the use of cryptographic commitment scheme with two basic properties: hiding and binding. In another words, it's similar to giving someone a closed safe box with a message inside that only you know the combination for. And then when the time comes you can reveal the key and that person can make sure that your commitment is valid (binding) while he or she can not know what is was before the key is received (hiding).
Transaction Cut - Through:
In the blockchain a block contains a large list of transactions and because of this it can be considered as a large transaction that will be cut (combining all existing transactions between A and Z). Then, when applying this feature, a system is created that only needs the current state of the transactions instead of a complete history of all the transactions. And in this way you can reduce the amount of data required for storage and also verify the transaction data, which allows the Mimblewimble protocol to work with smaller blocks.
In the blockchain a block contains a large list of transactions and because of this it can be considered as a large transaction that will be cut (combining all existing transactions between A and Z). Then, when applying this feature, a system is created that only needs the current state of the transactions instead of a complete history of all the transactions. And in this way you can reduce the amount of data required for storage and also verify the transaction data, which allows the Mimblewimble protocol to work with smaller blocks.
As for the cases in which BEAM can be used, they are linked to the people who undertake in the world of cryptocurrencies, since nobody is surprised about the insecurity that arises when carrying out transactions on different platforms because the information about transactions, funds and account addresses are in danger when exposed publicly.Due to this, customers who are willing to use BEAM services can feel confident when making transactions to other BEAM users, without running the risk of robberies in the funds, as well as preventing the data of accounts and amounts transferred from being publicly exposed, avoiding at all costs any theft.
BEAM also has a quick ambassador program according to the location of each person, where those who apply for ambassadors can promote BEAM by holding talks and meetings where they can explain everything that BEAM does. In that sense if you are very interested and motivated about this new platform due to the implementation of Mimblewimble or if in general you are interested in the world of cryptocurrencies, then being an ambassador of BEAM may be ideal for you, since you can communicate and convince your ideas about this innovative platform to other people. With this ambassador program you can become the first BEAMER in your community and you can also receive a reward for this incredible work.
You can check in the following link all the necessary information to be a BEAM ambassador:
BEAM Ambassador Program
You can also send an email to this address stating why you would be an ideal ambassador for BEAM.
Email: [email protected]
Below you can see the great team that makes up BEAM and also the investors who trust in this excellent and innovative platform of the Blockchain.
You can also send an email to this address stating why you would be an ideal ambassador for BEAM.
Email: [email protected]
Below you can see the great team that makes up BEAM and also the investors who trust in this excellent and innovative platform of the Blockchain.
Below you can see the great team that makes up BEAM and also the investors who trust in this excellent and innovative platform of the Blockchain.
Then you can watch a video that explains more about everything BEAM does
To conclude, I would like to highlight that BEAM grants multiple advantages to the users that use this platform, but among all the benefits it should be noted that the tool to protect the privacy of users promises to be the solution to many problems that are impregnated on the internet nowadays. Since there are theft of funds, as well as addresses accounts in the different platforms and cryptos that are in the blockchain, so thanks to these benefits offered by BEAM, there is the possibility of undertaking with confidence in the crypts without fear to witness scams and theft of money on the internet.
Apart from this, BEAM also offers users the freedom that they decide on their privacy, either when they have made a transaction, they want to hide the address of the sender and receiver as well as the transaction amount, everything will depend on what information the user wants to hide in BEAM. On the other hand, thanks to the Mimblewimble protocol, they help the transfers made in BEAM to be carried out quickly and efficiently, allowing more users to trust and join BEAM.
Personally I consider that having privacy in terms of the addresses of the accounts and the amount that one owns is something very important since nowadays almost the majority or rather all the platforms have that data in a public way, what makes it more dangerous to have money online through cryptocurrencies and for that reason with the discovery of a platform that allows you to store money with the due privacy that each person deserves in terms of their funds, is something that must be taken advantage of to the maximum because BEAM promises and ensures confidentiality with its users.
- Beam Website
- Beam Position Paper
- Mimblewimble Paper
- Beam YouTube
- Beam Telegram
- Beam Facebook
- Beam Github
- Beam Bitcointalk
- Beam Medium
- Beam Twitter
I hope you have liked to know about BEAM and be encouraged to use this excellent platform. On the other hand I hope that my writing is liked by @originalworks.
Do not hesitate to check the post about this contest by going to the following link:
@originalworks Sponsored Writing Contest BEAM
The infographic and separators were designed by me taking referential images of the official page of BEAM
A big hug dear friends of Steemit!
beam2018
beamtwitter
Twitter Link:
https://twitter.com/bharathi22/status/1039206850774945797
@originalworks Sponsored Writing Contest BEAM
The infographic and separators were designed by me taking referential images of the official page of BEAM
A big hug dear friends of Steemit!
beam2018
beamtwitter
Twitter Link:
https://twitter.com/bharathi22/status/1039206850774945797
A big hug dear friends of Steemit!
beam2018
beamtwitter
Twitter Link:
https://twitter.com/bharathi22/status/1039206850774945797
beamtwitter
Twitter Link:
https://twitter.com/bharathi22/status/1039206850774945797
https://twitter.com/bharathi22/status/1039206850774945797
Posted from my blog with SteemPress : http://bharathi22.vornix.blog/2018/09/10/beam-a-confidential-cryptocurrency-based-on-an-innovative-mimblewimble-protocol-sponsored-writing-contest-by-originalworks/
This post has been submitted for the @OriginalWorks Sponsored Writing Contest!
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I agree with the author, @bharathi22!
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