Blockchain and Cryptocurrency Pro - Crypto that Uses the Mimblewimble Protocol

Beam (BEAM)

Beam is one of the crypto projects that makes use of the Mimblewimble protocol. It is a private and scalable private cryptocurrency that utilizes the Mimblewimble protocol and LelantusMW. One of the main aims of Beam is to explore the world of confidential DeFi. Beam was created to solve the privacy issue that is associated with public blockchains like bitcoin. Back in the early years of bitcoin and other public blockchains, it was said that it is impossible to trace transactions on the bitcoin network. This has proven to be false because it is actually possible to trace a transaction back to the sender. This is a huge privacy risk because back actors can use the information for malicious activities. This is where Beam comes in to help solve the privacy problems by making transactions, address balances private which in turn keeps the identities of the sender and receiver private.

The Beam blockchain operates on the proof of work consensus mechanism and was created to improve privacy and scalability of blockchain. The Beam project was launched in March 2018 and the project was said to have held a private sale which about raised $5.2 million. One of the stand out features of beam is that is allows anyone to make transactions that are safe, stable and reliable. This is important in ensuring that user data is managed properly and more secure. On Beam, addresses are kept fully private and there is no way for outsiders or third parties to know the addresses of user, thereby giving users full control over their privacy, and can only decide who they decide to share their information with.

Beam Features

• Privacy by default
• Confidential Assets
• Atomic Swaps
• Decentralized Exchange
• Superior usability
• Smart Contracts
• Confidential DeFi

BEAM rankings
Currently, BEAM is ranked 473th on the coinmarketcap. With a current marketcap of $70,759,070 which is still not up to a billion, there is a lot of room for BEAM coin to grow. With the features of BEAM and the solution that it provides, there is a higher chance for it to grow and find its way into the top 100 coins in the nearest future when it begins to gain adoption.

BEAM wallet and Exchanges
Beam wallet is supported on a variety of devices such as desktop and mobile. BEAM is listed on a number of the big crypto exchanges such as Binance, Hotbit, Gate, CoinEx and a number of other exchanges.

The mimblewimble protocol has proven to be a solution that provides privacy and scalability in blockchain. It has a lot of benefits that when used in the bitcoin network, it can help solve some of the problems in the bitcoin network such as privacy issues and scalability issues. BEAM is one of the blockchains that utilizes the mimblewimble protocol to solve the privacy issues that is associated with public blockchains. While there are not that many blockchains that are making use of the mimblewimble protocol, it is a technology that has proven to bring solution to some of the problems of blockchain and as it continues to grow and gain adoption, many blockchain will utilize it to provide enhanced privacy and scalability.