BEAM– The Concrete Choice of Investment

In 21st century people are moving towards block chain technology. They are investing their money in various coins .But the reason which stop them from investing is the “Theft fear”. They do not want to lose their investment. Mainly people lose their investment due to data leakage. There is a myth in the blockchain technology that you cannot make your information protected. But today with the help of @originalworks I witness a coin named BEAM that helps the user to make their investment safe and secure by helping them to keep their data private.

BEAM

BEAM is a new cryptocurrency privacy coin that is based on the Mimblewimble protocol. BEAM is designed to maximize the privacy aspects and make the system more transparent and secure for the people. BEAM is built with scalability, having smaller blocks, so that the transaction could be faster. The Team BEAM consider this coin as store of value coin but for me it is a package of all solution from privacy to speed and more.

MIMBLEWIMBLE PROTOCOL

The word Mimblewimble is took from the novel and film “Harry Potter”. Mimblewimble is the name of a spell in the movie. The Mimblewimble is a Tongue-Tying Curse, which is also known as the Tongue-Tying Spell is used to prevent people from talking about any subject so that it should be remain as a secret.
The Mimblewimble technology is a unique technology that helps the user to keep his data safe and secure form the other users to overcome theft .When the transactions is done the information of the sender and receiver are kept private. No reusable or identifiable addresses are used.

Why BEAM?

There are many reasons why we should choose BEAM. Some of them are given below:-

1: Control over privacy:

The first feature which make the BEAM awesome is its control over privacy. Nowadays people are conscious about their information. BEAM helps USER to have full control of their information. After that user can decide what information to show . The information of all transaction would be kept private and there would be no information of transactions stored in the blockchain.

2: High speed transaction :-

As BEAM works on a mimblewimble protocol. It saves the data in small chunks of blocks on the blockchain. Due to these small chunks of block its transaction is faster and secure.

3: Use of Mimblewimble protocol:

Mimblewimble protocol is used by the BEAM in order to prevent the blockchain from talking user valuable information. It eliminates the security concern of the user regarding their information and helps them in minimizing theft.

4: Confidentiality without penalty:-

In BEAM, many of the confidential transaction are carried out without congestion in the block chain. Small information would be carried out in small blocks in a secure way without any penalty on the performance.

5: Choice of Equihash Proof-of-work algorithm :

It is quite interesting for team BEAM to choose Equihash algorithm. Equihash is a mining algorithm. It helps in solving a generalized birthday problem.

6: No storage of addresses in the Blockchain :-

No information (addresses) of sender and the receiver would be store in the blockchain in order to make it safe and secure.

7: fully fuctional wallet

BEAM is going to launch its own wallet with a key generator so that the investor can keep their investment in a safe place.

PROBLEM & SOLUTION

1:Data leakage

Problem: As there is a myth in blockchain technology that data leakage cannot be stopped and it is a serious concern for the user to protect their information .
Solution: BEAM is using mimblewimble protocol that helps the user to keep their information private.

2: Transaction speed

Problem: Many cryptocurrency coins take time in their transactions .This is due to heavy data in their block chains. Due to which congestion occurs which result in slow transactions
Solution: BEAM is using small blocks that will helps in fast speed transactions and no congestion will occur.

3: Theft / Chance of losing investment

Problem : The leakage of information results in theft which is a big problem now days
Solution: The leakage of information can be overcome with BEAM . As BEAM helps the user to keep his data / information private. This would result in less chance of theft.

4: Wallet of a Coin

Problem : According to me ,no crypto coin have their own wallet .so it is hard for them to keep their investment in a secure and safe place.
Solution : BEAM will release a desktop wallet application for Mac, Windows and Linux soon.

How Transactions are Done

Comparison With other Crypto Currencies

Below you can view the comparison of Beam with other crypto currencies

Case Study

Harry is a business owner, who use a crypto currency as payments and investment in his company. Everyday he has to witness many crypto transactions. It is hard for him to keep the data of their clients safe and secure. Many of the investors were moving out from his company due to this problem. They feel that they would lose their money due to their data leakage.
He search a lot to overcome this problem. So that he could stop his investor from leaving his company. Until he found BEAM, his all problems were solved and now he is able to attract more investors to his company. All the investors are now happy from Harry and Harry is happy because of BEAM

ROAD MAP

TEAM BEAMVIDEOS

Team Behind BEAM

FOR MORE INFORMATION
BEAM WEBSITE
BEAM Position Paper
MimbleWimble paper

Contest @originalworks Submission

LINK OF BLOG
beam2018