The New Fast, Scalable and Privacy Blockchain Solution Based on the MimbleWimble Protocol-Beam

marizanne (10)in #beam2018 • 6 years ago (edited)

Introduction

As of 2009, when the creation of the first cryptocurrency, Bitcoin, took place, different digital currencies began to emerge over the years, and many had different characteristics or purposes, but they shared something in common, the lack of privacy .
Cryptocurrency promises privacy and a true peer-to-peer trading money without needing a third part to facilitate trades. The blockchain on the otherhand is the one responsible for making this trades possible and immutable. It is also where all the said transactions are stored.

But is the current state of the blockchain truly makes trading private and secure? Can the current trading process of cryptocurrencies be considered "true" peer-to-peer? Unfortunately, the answer to that question is a resounding NO!

While blockchain offers the needed security, it doesnt have the efficacy to keep us anonymous from the prying eyes of the internet because all transactions on the blockchain are visible to the public. Which means that a careful analysis of this data can expose the identity of the owner. Who knows what other technologies are capable of?
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What Is Beam?

Beam is a new decentralized, fast and scalable blockchain based on the MimbleWimble protocol

Beam is built to allow users choose the way the blockchain will publish their transactional history, either public or private.

BEAM is one of the most reliable and versatile cryptocurrencies, since with it you can perform different types of transactions, one of which is atomic transactions, which are transactions executed under intelligent contracts and which ensure that none of the parties involved is cheated.

"“Scriptless Script" technology allows implementation of a wide variety of transaction types beyond simple transmissions of value; for example, atomic swapping, escrow, and time-locked transactions."BEAM

What you need to know about BEAM

How It Works

Full Benefits of the Beam Ecosystem

Privacy
No additional block size required
User Controlled features enabled
Open sourced
Based on "Scriptless Script" technology
Mobile and desktop supported wallet
Fast and secure transaction
Scalable blockchain
Written in C++ from scratch

Use cases

Between the buyer and the ICO market, there are no huge security/privacy concern as all that is being dealt with mostly is just a raw communication between wallet addresses which can belong to anybody in general and nobody in particular except those ICO which requires KYC before investors can invest; which might have the same security/privacy concerns as those using exchanges.

In his country there are bands of computer scammers and extortionists who through the movements in the Blockchain discover who the users are and steal money, that is why Logan takes the security of him and his family very seriously.

I investigate which cryptocurrency could provide higher levels of privacy and that is how it came to BEAM. After further investigation into this cryptocurrency, I knew it was the correct one, since no cybernetic hacker or extortionist could contact him through his online transactions.

Conclusion

Many of the people who are in the world of cryptocurrencies have on occasion wanted to have a little privacy for our transactions due to different reasons. With BEAM this is possible and without a doubt it will be the solution for many people, thanks to the security and confidence that this cryptocurrency inspires, this will open the way to a large number of transactions that will begin when this cryptocurrency enters the market.
Therefore investors and traders alike can easily use the escrow and atomic swap functionalities of the blockchain to carryout transactions in a secure manner.