1. Founding Date: Beam coin was founded in 2018 by Alexander Zelicov.
2. Consensus Algorithm: Beam utilizes the MimbleWimble protocol, but implements Equihash as its proof-of-work consensus algorithm.
3. Hash Function: It uses the BLAKE2b-512 hash function.
4. Supply Limitation: Beam has a max supply cap of approximately 262 million coins.
5. Block Time: Beam’s block time is 1 minute.
6. Beam Platform Scalability: The platform implements an L2 (Layer 2) scalability solution known as “Atriad”.
7. Beam Blockchain Architecture: Beam is built on the Lelantus framework and utilizes a UTXO (Unspent Transaction Output) model.
8. PoS, PoW or Both: Beam currently only facilitates Proof-of-Work consensus, though Atriad supports Proof-of-Work, Proof-of-Stake or a mix of both.
9. Open Source and Development Team: Beam is open-source and was developed by a closed core development team.
10. Cryptotype: Beam is considered a ‘privacy-centric coin’.
What is Beam?
Beam is a decentralized, confidential, and scalable cryptocurrency that has gained significant attention in recent years. Powered by the Mimblewimble protocol, Beam aims to provide a secure and private way for individuals to transfer assets.
Beam’s primary goal is to provide a cryptocurrency that is both scalable and private. To achieve this, the platform utilizes a unique consensus algorithm called Beam Hash III. This algorithm is based on a Proof-of-Work (PoW) consensus algorithm, but with a few tweaks to improve its efficiency and security.
Key Features of Beam
Beam’s core feature is its ability to provide confidential and private transactions. The platform achieves this through the use of the Mimblewimble protocol, which hides the sender, receiver, and amount of the transaction.
Beam’s architecture is designed to be scalable, with a block time of 1 minute and a block size of 1MB. This allows for a high throughput of transactions and fast confirmation times.
Beam’s consensus algorithm, Beam Hash III, provides a secure and reliable way to validate transactions. The algorithm is also designed to be energy-efficient and ASIC-resistant.
Beam has developed a user-friendly wallet that allows for easy transaction management and asset tracking.
Benefits of Beam
Beam’s confidential transactions provide a high level of privacy for users, making it ideal for those who value their anonymity.
Beam’s architecture allows for a high throughput of transactions, making it suitable for both individual and commercial use.
Beam’s consensus algorithm provides a secure and reliable way to validate transactions, giving users peace of mind when transferring assets.
Beam’s user-friendly wallet makes it easy for users to manage their transactions and assets.
Beam on CoinGecko
CoinGecko is a leading cryptocurrency data platform that provides information on a wide range of cryptocurrencies, including Beam. The platform lists Beam’s current market price, trading volume, and market capitalization, making it easy for users to track the performance of the cryptocurrency.
In addition to listing Beam’s market data, CoinGecko also provides information on Beam’s trading pairs, exchange listings, and community metrics. This makes it an invaluable resource for anyone looking to invest in or trade Beam.
FAQs
Q: What is Beam?
A: Beam is a decentralized, confidential, and scalable cryptocurrency powered by the Mimblewimble protocol.
Q: What is the Mimblewimble protocol?
A: The Mimblewimble protocol is a decentralized and confidential transaction protocol that allows for anonymous and confidential transactions.
Q: What is Beam’s consensus algorithm?
A: Beam’s consensus algorithm is called Beam Hash III, which is a Proof-of-Work (PoW) consensus algorithm with tweaks to improve its efficiency and security.
Q: Is Beam scalable?
A: Yes, Beam’s architecture is designed to be scalable, with a block time of 1 minute and a block size of 1MB.
Q: Where can I track Beam’s market data?
A: Beam’s market data is listed on CoinGecko, a leading cryptocurrency data platform.
