BEAM

Overview of BEAM

Beam is a privacy-focused cryptocurrency that was launched in 2018. It is named after the science fiction concept of a directed energy beam. Beam's primary goal is to offer a confidential and scalable form of value storage and transfer. BEAM coin is the native token of this blockchain, and it's used in all transactions and block rewards. The main founders of Beam are Alexander Zaidelson, Amir Aaronson, Alex Romanov, Sergey Bakhvalov & Vlad Ginzburg.

Beam is supported on a variety of exchanges such as Gate.io, MEXC, CoinEx, and more. Beam tokens can be stored in BEAM's official wallet, as well as multi-currency wallets like Trust Wallet and Atomic Wallet.

Pros and Cons

What Makes BEAM Unique？

Beam, as a cryptocurrency, stands out primarily because of its focus on maintaining strong privacy. It is one of the first cryptocurrencies to implement the Mimblewimble protocol, a design that boosts privacy by encrypting all transactional data. Unlike other cryptocurrencies, where transaction history and the involved parties could be mapped by analyzing the blockchain, Beam makes this practically impossible.

Furthermore, Beam utilizes a novel approach called 'cut-through', which helps maintain a lean and efficient blockchain without compromising transactional history's security and verifiability. This approach is different from blockchains like Bitcoin that continuously grow in size, making the task of synchronization and storage increasingly demanding.

Beam also takes a unique stance on monetary policy. It diminishes emission over time using the Halving Mechanism, with the number of tokens issued as block rewards decreasing by half roughly every four years. This tends to create scarcity and is different from other cryptocurrencies that have a fixed yearly amount or no cap at all.

How Does BEAM Work？

Beam operates as a privacy-centric cryptocurrency built on the Mimblewimble protocol. Unlike many traditional blockchains that publicly store transaction data, Beam encrypts transaction information to provide privacy for its users.

The Mimblewimble protocol allows Beam to aggregate transactions, which helps to maintain a lean and efficient ledger. The key principle is ‘cut-through’ where the protocol allows the system to discard a majority of the transactional data from the blocks while still maintaining the blockchain's overall security and verifiability. Only the unspent transaction outputs (UTXOs) and block headers are kept on the ledger, reducing the blockchain size for more straightforward verification and synchronization.

Beams transactions called Confidential Transactions, use a cryptographic 'blinding factor', helping to conceal the transaction value. Even though the transactions can be verified as valid, outside observers cannot see the amount being transferred.

Beam also incorporates Dandelion++, a network privacy protocol that conceals the origin IP of transactions. It does this by first sending transactions through a number of 'stem' nodes before 'fluffing' them out across the network, like a dandelion spreading its spores.

Exchanges to Buy BEAM

Several crypto exchanges allow the buying and trading of Beam (BEAM). Please note that the specific trading pairs available might vary over time and location.

You can acquire BEAM on various centralized trading platforms such as Gate.io, MEXC, CoinEx, Tradeogre, and Bitforex. In addition, it's also tradeable on instant exchanges like Beam4Me, Simpleswap, StealthEX, Kriptomat.

How to Store BEAM？

BEAM can be stored using various types of wallets, each providing different levels of functionality and security.

1. Official Beam Wallet: The official Beam wallet is available on multiple platforms including Windows, Mac, Linux, iOS, and Android. It offers full control over the private keys and allows users to have complete control of their tokens.

2. Trust Wallet: Trust Wallet is a popular multi-coin wallet for Android and iOS which supports BEAM. It also offers full control over the private keys and provides an easy-to-use interface.

3. Atomic Wallet: Atomic Wallet is a desktop application that supports various cryptocurrencies, including BEAM. It is favored for its security features, its user-friendly layout, and the ability to swap cryptos within the wallet.

Should You Buy BEAM？

Buying Beam (BEAM) may be suitable for diverse types of investors or interested parties, depending on their financial goals, risk tolerance, and interest in unique cryptocurrency features. Here are few recommended categories:

1. Privacy enthusiasts: Beam is built upon the MimbleWimble protocol aiming to provide superior privacy than other cryptos. If privacy is paramount in your interactions with digital assets, Beam could be interesting for you.

2. Technological adopters: Beams utilization of cutting-edge tech such as Mimblewimble and Dandelion++ provides a technological edge. If you're someone who values advanced technological design within a crypto, Beam may be a desirable option.

3. Speculative buyers: Cryptocurrencies, due to their volatility, are often chosen by traders seeking to profit from price fluctuations. If you're a speculative trader, the price movements of Beam might present buying opportunities.