Beam - The best privacy option in the Blockchain network

imagen (70)in #steempress • 6 years ago (edited)

What is Beam?

"The private transfer of assets in a peer-to-peer manner" Bitcoin has not fully developed it. Privacy is fundamental when you need to make transactions and actions carried out in Blockchain, many communities and services lack security in their platforms and mechanism, but with Beam security will be first of all, we can have scalable peer-to-peer transactions, Beam is a platform that offers a large anonymous storage of values. Beam offers several features "is private by default", is "based on Mimblewimble", "does not require trust configuration between users", "Blocks are mined using Equihash Proof-of-Work algorithm" and more...

Comparison between other cryptocurrencies and Beam

"Beam is a truly anonymous store value coin"

MimbleWimble

It is a protocol that achieves private and confidential balance, the author published it in 2016 and is completely anonymous, the name of MimbleWimble comes from a spell of the very famous Harry Potter movie. MimbleWimble blockchain provides superior scalability through the compact size of blockchain. It should be noted that MimbleWimble works based on 2 fundamental concepts: Confidential Transactions and Transaction Cut.

Source

Features

Confidentiality:

As mentioned above, Beam does not keep any information of each transaction, this gives legitimacy and privacy to the platform

Versatility

With the "Script-script" technology, more transactions can be made on the platform in a secure manner.

Scalability

As I said before, Mimblewimble focuses on 2 very important functions and one of them is the "cut", which allows Beam to assimilate small blocks to avoid computational overloads.

Sustainability

With the division of 20% of the miners destined to the promotions, the open code, the governance of the community and the support of Beam, the platform offers a great substantivity to the users.

Usability

Usability will be easy thanks to the virtual wallet of individuals and small businesses offered by Beam.

Compatibility

With the quality algorithm Equihash used in other famous cryptocurrencies such as the ZCASH, a large extension can be adopted by the GPU miners, besides Beam comes with tools that facilitate the execution and administration of the nodes of mining.

How does it work [Beam?]

In the following image you can see the operation of the Beam platform, in a few simple steps:

Use Case

Logan is the owner of a company dedicated to promotions of electoral campaigns. Logan works with cryptocurrencies in his company and to avoid abuse or sabotage in your company uses the Beam platform, to be able to carry out transactions in a fast, simple and very secure way, so anyone with intentions of sabotage or any corrupt electoral group will not be able to intervene in the transactions of Logan and his company.