Beam: Security and real confidentiality in a blockchain
Beam: Security and real confidentiality in a blockchain.
Preliminary Terms
Scalability:
Scalability is the capability of a system, network, or process to handle a growing amount of work, or its potential to be enlarged to accommodate that growth. For example, a system is considered scalable if it is capable of increasing its total output under an increased load when resources (typically hardware) are added.
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Property of blockchain technology as a whole that indicates its ability to adapt to new challenges and to evolve in a fluid way
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Privacy:
Privacy is the ability of an individual or group to seclude themselves, or information about themselves, and thereby express themselves selectively.
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The Problem
Since its appearance there is no doubt that bitcoin is the most exchanged and used cryptocurrency worldwide, this popularity has placed it as a value pattern with respect to other cryptocurrencies as well as the US dollar.
However, this popularity results in two major problems.
First, the privacy. Although at the beginning, for some newcomers like me, it was believed that when doing transactions with bitcoin, seeing how long and complex combinations of the addresses of users' portfolios, it was believed that the user was enjoying complete anonymity . However, when starting to understand the operation of the blockchain, and behind a transaction validation is recorded for posterity not only the transaction itself, but the details of the same as the amount and addresses of the recipient's portfolios and issuer of the cryptocurrency. Then it is enough to know the address of a user and have access to the transaction records (public information) to know how much money in cryptocurrency has managed that user. Putting the person in a vulnerable position before ill-intentioned people.
Second, the scalability. For the same growth and popularity of cryptocurrencies are increasingly users who make life in the bitcoin blockchain network. As a result, the number of transactions increases and the verification rates thereof decrease. Making this growth and popularity not very profitable for the network itself, that is, the scalability of the network is affected in a negative way.
Beam solves these problems
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What is Beam?
Beam is a blockchain that improves the Bitcoin blockchain, and has great features that make it an option superior to other.
Beam records each transaction immutable and incorruptible, as does bitcoin. But with an algorithm that optimizes the really essential information to register. Which considerably improves the size of the network blocks, giving a superior performance in terms of speed and processing power, converting it into a network with great potential and efficiency scalability.
In addition Beam presents its large letter of presentation that is privacy management, this feature is established by default, assuring the user complete anonymity when making transactions in the network. However, the user has absolute control over their data, being able to enable the display of data if desired.
When Beam establishes that it is not necessary to store all the transaction history to validate the blockchain, this not only ensures the privacy of the user but also reduces the size of the blocks considerably improving the scalability of the network.
As it does?. MimbleWimble is the Answer.
Beam is based on MimbleWimble. This was a proposal to improve Bitcoin's blockchain.
In November 2017, MimbleWimble was launched, by a user using the name of Tom Elvis Jedusor, with a very interesting background.
The account never posted another message before or after. The link led to a text dated July 19, signed ‘Tom Elvis Jedusor’, which laid out the basic concept for Mimblewimble. In the two years since, it has been reviewed by developers, academics, and cryptographers… and it works. It is recognised as one of the most elegant proposals for improving cryptocurrency, offering guaranteed privacy, and improving efficiency in the same stroke.
No doubt when you read that last paragraph, you thought, “Hey! ‘Tom Elvis Jedusor’ is an anagram of ‘Je suis Voldemort’, which is French for ‘I am Voldemort’, the villain from Harry Potter.” Well spotted. The name ‘Mimblewimble’ is another Harry Potter reference. In the books, Mimblewimble is a spell that stops people from spilling secrets (a sort of magical NDA) and Jedusor’s paper said:
I call my creation Mimblewimble because it is used to prevent the blockchain from talking about all user’s information
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The link of GitHub with the specifications to install the platform and activate the node of the testnet was published from the Twitter account of Jameson Loop.
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MimbleWimble basically consists of creating a transaction with multiple inputs and multiple outputs from and intended for different users, making it difficult to trace transactions to their origin.
Source [1. criptonews] [2. Andrew Poelstra]
Beam is based on Mimblewimble
The Beam developers build the blockchain network from scratch using C ++ using the Mimblewimble algorithm as a basis. By doing this, Beam allows users to have real control over their privacy and by optimizing the blocks they can scale and support the entry of more users and their transactions.
Below is a diagram of the functionality.
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There are other platforms that deal with the issue of privacy in blockchain transactions, such as Monero and Zcash. However, Beam has features that combine and optimize the characteristics of the others. In this comparative table you can see.
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Other Beam Features
Source: Animation made by @autinf
True Confidentiality: the addresses and personal information of the users are not stored in the blockchain.
Versatility: Thanks to the "Script Script" technology, Beam allows the possibility of implementing several types of transactions, such as: atomic swapping, escrow, and time-locked transactions.
Scalability: Beam based on Mimblewimble only stores the essential information for transaction validation. What makes the blockchain faster, with smaller blocks and giving great potential for expansion and growth.
Sustainability: Beam encourages the development and promotion of the platform with 20% of the mining rewards for the programmers, auditors and collaborators of the Beam Growth Pool community. The Beam code is made in C ++, completely auditable by anyone who wants to do it.
Compatibility: Beam comes with a comprehensive set of tools to run and manage mining nodes. Thanks to the use of Equihash algorithm.
Usability: Beam provides users with a wallet for desktop computers and mobile devices, designed by their team, to facilitate the user's operations in the blockchain.
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Ambassadors Program
BEAM has a program of Ambassadors where more and more people join. Where the ambassador becomes a promoter and informant of Beam. Among its functions is to hold meetings, discussions and knowledge exchange sessions about Beam and everything related to blockchain.
If you consider that you can be an ambassador and promoter of Beam and Mimblewimble, it can be very exciting and you can also get compensation for your effort. If you want more information press [Here].
Use cases
1.- Payroll Payments: In the company where I work, my friend can not request a work record in my name in the human resources department, without a written authorization signed by me. This happens for security and keep the confidentiality of my salary. However, there is a proposal to make part of the payment of our salary using the "Petro" cryptocurrency (Venezuela). If this will happen perhaps if someone decides to investigate and analyze in detail the transactions made from the portfolio of the company could know the amount of salary of each worker. Losing the confidentiality of this information. Therefore the blockchain Beam is useful for this type of case, where the privacy of the amounts of the transactions and the direction of the portfolios are protected by the algorithm based on MimbleWimble.
2.- Revenues in decentralized social networks: In the decentralized social networks like STEEM our portfolios are public and in view of all, even if we take our income to another wallet like bittrex, it is enough to enter the wallet of each user, see the detail of your transactions and we can see your profits, your withdrawals, the interaction with other users and accounts. At first glance, it looks like simple information. But it is really a delicate information to keep it public, because if a malicious person who does not even belong or make life in the social network can see the amount of cryptocurrencies saved by the user. If in the articles or publications shared by the user there may be an indication of personal data such as real name, work address, etc. This malicious person can locate the user and extort or kidnap him to take away his savings. Beam in a use case, where this would not happen because the privacy of the transactions and even the amounts are a total secret for others.
Personal conclusions
When a blockchain is analyzed, the first information that is sought is the one referring to security. Beam has been implementing the Secure BBS system for Testnet purposes, where encryption is performed between wallets connected to each other through temporary addresses. That is, the Beam team has taken this criterion very seriously.
In addition to security, another criterion is the speed in the verification of transactions. Thanks to the use of MimbleWimble the information stored in the blockchain is much smaller, which makes the blocks smaller and their verification much faster. It should be noted that the data is never deleted in the blockchain, but the information is compact, only the information needed to validate the entire network.
Then for the blockchain projects, ICO public fundraising is established in most cases. Beam is not an ICO and they did not publish a white paper, they presented a Position Document where they publicly establish the guidelines that will govern Beam.
Personally after researching and reading about Beam, what I liked the most is that although the improvements in terms of privacy are programmed and configured by default, Beam does not impose this feature, it does not oblige anyone to remain anonymous, although if it promotes it. The user is the one who ultimately owns their data and makes the final decision, whether or not to remain under cryptographic anonymity.
I am one of those who believe that the use of the blockchain its immutability, its transparency and its characteristic of being auditable can change the world. I even think that it is possible to establish a governance system registered completely in the blockchain, eradicating corruption.
This is where I find the great dilemma, between which I prefer, privacy or auditability. And studying and analyzing well, I think they are not exclusive, but in a system of governance can coexist together, applicable in different cases.
First, the traceability and auditability would be necessary to establish operations for institutions or even government people, where the transparency and knowledge of an irreproachable procedure is necessary that is public knowledge. It is there, where Beam's ability to let the user decide whether or not to share sensitive and personal information.
And secondly, the privacy necessary to apply it to the real world and its dangers, not all of us are politicians, or representatives of the government, and our income does not need to be available to anyone. Therefore, this is where the main characteristic of Beam is applicable. Giving the user the security and real confidentiality in a blockchain.
Important Documents
- Beam Position Paper
- Mimblewimble Paper
- Mimblewimble: Private, Massively-Prunable Blockchains. Andrew Poelstra. (You can accompany it with this video)
Some Videos about Beam
| Alexander Zaidelson (CEO): Discover Beam from a pure community perspective. |  |
| Alex Romanov (CTO): Discover BEAM's implementation of Mimblewimble |  |
| Panel: An incredible debate about Financial Privacy and Beam as a solution when it comes to privacy coins |  |
| Andrew Poelstra: Bulletproofs & Mimblewimble |  |
The Team
Advisors
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Investors
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RoapMap
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More Information and Resources
Beam Website
Beam Position Paper
Mimblewimble Paper
Beam YouTube
Beam Telegram
Beam Facebook
Beam Github
Beam Bitcointalk
Beam Medium
Beam Twitter
Contest
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Disclaimer: @autinf does not offer any type of investment advice. This publication is a participation in the @OriginalWorks writing contest.
This is a @originalworks sponsored contest. Here is the link to the post
My Tweet link:
https://twitter.com/nogueraca/status/1039295661802487808.
beamtwitter
beam2018
Mi Proyecto Personal de Curación, #TopFive los cinco y otros más. 11/09/2018
Excelente amigo. me gusta mucho como armas tus post. mereces ganar siempre cuidas muy bien los detalles. Saludos.
Gracias amigo por tu comentario y buenos deseos. Saludos.
Es una excelente entrada sobre todo a nivel de diseño, te deseo mucha suerte para que Original te de la bonificación que mereces, aunque los que eligen son los miembros de Beam, saludos!
Gracias por comentar. Un fuerte abrazo.
@autinf beam is a great project
Uncomplicated article. I learned a lot of new things. I signed up and voted. I will be glad to mutual subscription))))
Coins mentioned in post:
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