BEAM is a scalable and privacy-oriented cryptocurrency established in March 2018. It’s built on the Mimblewimble protocol. The platform aims to solve the privacy issue that wasn’t resolved by other platforms. The key members of the development team are Alexander Zaidelson, Alex Romanov, and Amir Aaronson.
At the beginning of the cryptocurrency development, it was believed that it was impossible to trace back transactions with public-blockchain cryptocurrencies, including BTC. However, it’s not true. They are traceable so that the senders can be determined. As a result, the founders of BEAM came up with an idea to improve the anonymity of transactions, users, and address balances.
The cryptographic protocols used in Beam don’t require a trusted setup. Beam is based on the Equihash proof-of-work algorithm,which provides an opportunity to store large amounts of data. Initially, it was built on the C++ programming language.
Beam is more transparent and secure. It allows its users to make safe and stable transactions. Users can be sure that their addresses are not available to any third parties and they can control who can access their information and what they can see.
Using Beam, you can make different transactions, including escrow, atomic swaps, and time-locked ones. BEAM’s supply is limited to 262,800,000 tokens. The cryptocurrency’s scarcity is ensured by periodic halving. The token has no premine. Also, it’s not expected to hold an initial coin offering. It’s backed by a treasury, released from every block during the first five years since the launch.
The cryptocurrency’s price reached its maximum of 3.18 US dollars on January 28, 2019. Its current value is low. However, it doesn’t matter if you trade BEAM to USD. You can trade the BEM/USD pair on LiteFinance via CFD.
Risk warning: Trading in FX and CFDs entails high risk of losing capital.
