Security issues:

Is our crytpo anonymous and safe ? That is a question everyone asks themselves is the Bitcoin we transact untraceable or can an unknown person use the transaction to know the information about the user, these questions are vital to ask ourselves before using these technologies. Scams around the world happen because of the open information our accounts provide to the unknown world. Bitocin is a revolution in this case and it introduced us to decentralization and security but still it is not a 100% anonymous system. The Bitcoin is considered the first generation Crypto currency and right now we need updates and improvements in the technology.

This is where BEAM comes in, it is a confidential and incorruptible blockchain system which allows transactions to be untraceable with both the sender and receiver be anonymous. This way the blockchain is completely private and no information is stored within the system. This is the future of the cryptocurrency technology. The test net have been tested on small scale industries such as data storage, computing and the automotive industry. Any peer to peer transaction can benefit from it.

What is  Beam ?

It is basically a secured blockchain system based on the mimblewimble node. The idea behind it keeps in mind the privacy issue and scalability issue aswell. Beam has one of the smallest blocks generated due to this system which makes transactions faster with greater scalability. The benefits with BEAM include :

1.  Confidentiality : transactions that occur are private with no information stored on the system when the user creates the wallet the transactions are used in a secure channel that is created for it to securely complete it by using the schnorr protocol.
2.  Versatility : There can be a number of ways for a transaction to occur because of the (scriptless script technology), these includes atomic swapping, escrow and time locked transactions. Each transaction goes to the node which asseses it by the value and feature.
3. Scalability : A revolutionary feature of the mimbleware keeps the block size of a transaction to a minimal allowing more scalability in transactions. Each transaction is verified and stored in a merkle tree and each nodes creates compacted history for 'fast sync' for new and existing nodes.
4. Sustainability : BEAM works on an open source and is implemented from scratch. With the system working with the population, it is community governed and 20% of the block reward goes to a pool for the development of BEAM.
5. Usability : Wallets for both PC and mobile with easy user interface help in reaching the day to day goal of using the cryptocurrency as the major asset. Designed for both individuals and small businesses.
6. Compatibility : A proven Equihash algorithm is chosen which is also used by ZCash, it was chosen to accommodate  and be adopted by vast majority of GPU miners, it comes with an extensive set of tools for running and managing mining nodes.

One of the best features here is the privacy of an individual. There are many whales here on Steemit and aswell as the cryptocurrency market who have been here since the beginning. They have accumulated significant amounts of currency which can be an headache to store in a secure place with no fear of hacking or spamming. BEAM provides a secure platform which is untraceable through it's transactions hence these individuals can rest assure where their respective coins are stored.

Conclusion :

The crypto world needs more security and privacy in it's use as well as other financial assets too. BEAM is a great initiative to provide such a secure method in delivering transactions. These can be great use case for frequent transactors who live abroad and send money back, their transactions will be safe and no one can see the amount or person sending or receiving it. This is why Bitcoin was created for the anonymous system the cryptocurrency works on. 

https://steemit.com/crypto/@originalworks/1125-steem-sponsored-writing-contest-beam https://twitter.com/ShaheerBari10/status/1039119077447553024

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