Beam Security and privacy
Hello friends I hope you are very well, the technology of the blockchain is advancing rapidly, and every day there are more projects that want to implement this technology, even many people feel distrust since the vast majority of projects are totally open and you can not have privacy with your data, many transactions can represent large amounts of money and that is sensitive information, of course some people see that as something positive, but the idea is to be able to please different tastes, that's why I'm going to introduce you to Beam, this project seeks to combine the incredible characteristics of the bockchain, such as immutability and incorruptibility, and add the following characteristics:
Confidentiality
All transactions are private. No information about transaction participants is stored in the blockchain.
Versatility
“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.
Scalability
The “cut-through” feature of Mimblewimble helps to avoid excessive computational overhead, making the BEAM blockchain orders of magnitude smaller than any other blockchain implementation.
Sustainability
Open source, implemented from scratch, community-governed, and backed by the Beam Growth Pool: 20% of block mining rewards goes to this pool to incentivize development and promotion of BEAM.
Usability
A wallet for desktop and mobile, designed to support day-to-day usage for both individual and small business users. The built-in dashboard makes budget management easy, featuring actionable spend and earning insights.
Compatibility
An industry-proven Equihash algorithm was selected to ensure broad adoption by existing GPU miners. BEAM comes with an extensive set of tools for running and managing mining nodes.
In the following chart you can see the comparison with famous coins
Beam has something quite curious and is MimbleWimble, if you know the word is because it is a spell of the famous Harry Potter books, the protocol was published by an anonymous author and Beam will use it, this protocol was built in C ++, this protocol allows us confidential transactions, using two principles, concealment and linking, in the project they explain to us that it is similar to that you sent an information or money in a safe, and of course only you have the key of that box, when you arrive the receiver will reveal the key and the receiver will validate that he received the promised, but only he and you will be able to know the information.
MimbleWimble uses a pattern called compromise perdersen, this is achieved using elliptic curve cryptography and literally comes from a linear equation C = r * G + v * H, the equation can be understood as follows, r is blinding factor, and the three other variables are generators that determine the curve, when the issuer generates the transaction only he knows the blinding factor and to transfer the property the receiver must reveal that factor.
I leave the work route of the project
conclusion
The opportunity that Beam offers us is very interesting for both natural and legal persons, the privacy of our transactions are as important as mobility, paper portfolios or usb ledger, although it allows an acceptable degree of privacy to limit us at the moment of mobility , apart from soltions such as the usb ledger or paper wallets are only viable for natural persons, for a company it is not practical, while beam will allow us to do those transactions in a safe and anonymous way, this is undoubtedly an advance for the massive adoption of the blockchain technology that is what all the people of the cryptographic world want.
Meet the work team
You can also contract with them through social networks
Beam Website
Beam YouTube
Beam Telegram
Beam Facebook
Beam Position Paper
Beam Twitter
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Overly fun colour.
Very interesting project, thanks for posting it.
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