$ 0.0652 USD
$ 0.0652 USD
$ 7.319 million USD
$ 7.319m USD
$ 146,408 USD
$ 146,408 USD
$ 2.589 million USD
$ 2.589m USD
150.753 million BEAM
Issue Time
2019-01-18
Platform pertained to
--
Current price
$0.0652USD
Market Cap
$7.319mUSD
Volume of Transaction
24h
$146,408USD
Circulating supply
150.753mBEAM
Volume of Transaction
7d
$2.589mUSD
Change
24h
-0.92%
Number of Markets
37
More
Warehouse
Andrew Beam
Github's IP Address
[Copy]
Codebase Size
30
Last Updated Time
2020-12-31 09:51:18
Language Involved
--
Agreement
--
Current Rate0
0.00USD
3H
-2.4%
1D
-0.92%
1W
-29.14%
1M
-43.99%
1Y
-78.92%
All
-95.13%
Aspect | Information |
Short Name | BEAM |
Full Name | Beam |
Founded Year | 2018 |
Main Founders | Alexander Zaidelson, Amir Aaronson, Alex Romanov, Sergey Bakhvalov, Vlad Ginzburg |
Support Exchanges | Gate.io, MEXC, CoinEx, etc. |
Storage Wallet | Official Beam Wallet, Trust Wallet, Atomic Wallet |
Beam is a privacy-focused cryptocurrency that was launched in 2018. It is named after the science fiction concept of a directed energy beam. Beam's primary goal is to offer a confidential and scalable form of value storage and transfer. BEAM coin is the native token of this blockchain, and it's used in all transactions and block rewards. The main founders of Beam are Alexander Zaidelson, Amir Aaronson, Alex Romanov, Sergey Bakhvalov & Vlad Ginzburg.
Beam is supported on a variety of exchanges such as Gate.io, MEXC, CoinEx, and more. Beam tokens can be stored in BEAM's official wallet, as well as multi-currency wallets like Trust Wallet and Atomic Wallet. It's important to note that Beam uses the Mimblewimble protocol which bolsters its privacy by encrypting all transactional data.
Pros and Cons
Pros | Cons |
Privacy-focused cryptocurrency | Relatively new hence lacks widespread adoption |
Mimblewimble protocol enhances transactional privacy | Not accepted by many businesses as a payment method |
Supported by multiple exchanges | Limited liquidity |
Various wallet support for storage | Competition from other privacy-centric cryptocurrencies |
Scalable transfer and storage of value | Volatility in token value |
Pros:
1. Privacy-focused cryptocurrency: Beam is primarily designed to offer users an exceptional level of privacy. This focus makes it appealing for users seeking anonymity in their digital asset interactions.
2. Mimblewimble protocol: Utilizing the Mimblewimble protocol, Beam enhances transactional privacy to a new level by keeping transactional data encrypted. This feature reduces the possibilities of privacy breaches and offers greater security.
3. Support from multiple exchanges: Beam tokens are traded on multiple exchanges, including Gate.io, MEXC, CoinEx, and more. This level of availability makes it accessible for a broad range of users.
4. Various wallet support for storage: The token can be stored in a variety of wallets, including the BEAM's official wallet, Trust Wallet, and Atomic Wallet. Users have flexibility in their storage choices.
5. Scalable transfer and storage of value: Beam keeps its blockchain lean and efficient which enables the scalable transfer and storage of value.
Cons:
1. New and lacks widespread adoption: As Beam was launched in 2018, its relatively new in the cryptocurrency space. Consequently, it lacks the widespread adoption enjoyed by some other cryptocurrencies.
2. Limited acceptance as a payment method: Beams focus on privacy and newness results in many businesses being reluctant to accept it as a method of payment. Its acceptance rate is not as broad as traditional cryptocurrencies like Bitcoin and Ethereum.
3. Limited liquidity: While Beam is supported on multiple exchanges, the liquidity for Beam is not as high as more popular cryptocurrencies. This lower liquidity can result in larger price swings.
4. Competition from other privacy-centric cryptocurrencies: Beam isn't the only cryptocurrency focused on privacy. It faces robust competition from other privacy-centric coins including Monero, Zcash, and Dash.
5. Volatility in token value: Like many cryptocurrencies, the value of Beams token can be highly volatile. This volatility can make it potentially risky for investors seeking stability in their investments.
Beam, as a cryptocurrency, stands out primarily because of its focus on maintaining strong privacy. It is one of the first cryptocurrencies to implement the Mimblewimble protocol, a design that boosts privacy by encrypting all transactional data. Unlike other cryptocurrencies, where transaction history and the involved parties could be mapped by analyzing the blockchain, Beam makes this practically impossible.
Furthermore, Beam utilizes a novel approach called 'cut-through', which helps maintain a lean and efficient blockchain without compromising transactional history's security and verifiability. This approach is different from blockchains like Bitcoin that continuously grow in size, making the task of synchronization and storage increasingly demanding.
Beam also takes a unique stance on monetary policy. It diminishes emission over time using the Halving Mechanism, with the number of tokens issued as block rewards decreasing by half roughly every four years. This tends to create scarcity and is different from other cryptocurrencies that have a fixed yearly amount or no cap at all.
The project is also shaped by its governance, operating under the Beam Growth Pool, intending to govern the protocol in a way that brings the most value to its users in the long term. It's different from some cryptocurrencies that either operate under a for-profit company (like Ripple) or a decentralized network of developers (Ethereum, Bitcoin).
However, Beam, like any other cryptocurrency, operates within a competitive and evolving landscape, and what can be seen as positive or negative traits largely depends on the user's specific needs and outlook on privacy and blockchain technology.
Beam operates as a privacy-centric cryptocurrency built on the Mimblewimble protocol. Unlike many traditional blockchains that publicly store transaction data, Beam encrypts transaction information to provide privacy for its users.
The Mimblewimble protocol allows Beam to aggregate transactions, which helps to maintain a lean and efficient ledger. The key principle is ‘cut-through’ where the protocol allows the system to discard a majority of the transactional data from the blocks while still maintaining the blockchain's overall security and verifiability. Only the unspent transaction outputs (UTXOs) and block headers are kept on the ledger, reducing the blockchain size for more straightforward verification and synchronization.
Beams transactions called Confidential Transactions, use a cryptographic 'blinding factor', helping to conceal the transaction value. Even though the transactions can be verified as valid, outside observers cannot see the amount being transferred.
Beam also incorporates Dandelion++, a network privacy protocol that conceals the origin IP of transactions. It does this by first sending transactions through a number of 'stem' nodes before 'fluffing' them out across the network, like a dandelion spreading its spores.
The Beam blockchain runs on a Proof-of-Work (PoW) consensus mechanism, similar to Bitcoin. Miners have to solve complex mathematical puzzles to find new blocks. However, Beam uses a modified PoW algorithm called BeamHash III, designed to encourage broad mining decentralization.
As far as token emission goes, Beam has a diminishing emission policy. The number of tokens issued as block rewards decreases by half approximately every four years, a mechanism known as ‘halving’. This mechanism is intended to emulate the scarcity aspect of natural resources which tends to drive value.
Moreover, Beam features opt-in auditability. While privacy is a default with Beam, users who need to provide audibility for compliance purposes can create auditable wallets and share view keys with auditors, allowing permissioned visibility into the wallet's transactions.
It should be remembered that while Beam offers enhanced privacy features, it does not encourage or support illicit activity. The project's focus is on financial privacy and freedom, with responsible use.
The total circulating supply of BEAM as of September 22, 2023 is 145.03 million. This means that this is the total amount of BEAM that is currently in circulation and available for trading.
The price of BEAM has been relatively volatile since its launch in 2018. It reached an all-time high of $1.12 in May 2021, but has since fallen to its current price of around $0.029. The price of BEAM is affected by a number of factors, including the overall state of the cryptocurrency market, news and developments related to the Beam project, and supply and demand for BEAM.
There is no mining cap for BEAM. This means that there is no theoretical limit to the amount of BEAM that can be created.
Several crypto exchanges allow the buying and trading of Beam (BEAM). Please note that the specific trading pairs available might vary over time and location.
You can acquire BEAM on various centralized trading platforms such as Gate.io, MEXC, CoinEx, Tradeogre, and Bitforex. In addition, it's also tradeable on instant exchanges like Beam4Me, Simpleswap, StealthEX, Kriptomat.
As with any cryptocurrency trading, it's always important to do your own research and ensure security procedures to protect your funds while trading. Please consult the respective exchange's website for the latest and most accurate information.
BEAM can be stored using various types of wallets, each providing different levels of functionality and security.
1. Official Beam Wallet: The official Beam wallet is available on multiple platforms including Windows, Mac, Linux, iOS, and Android. It offers full control over the private keys and allows users to have complete control of their tokens.
2. Trust Wallet: Trust Wallet is a popular multi-coin wallet for Android and iOS which supports BEAM. It also offers full control over the private keys and provides an easy-to-use interface.
3. Atomic Wallet: Atomic Wallet is a desktop application that supports various cryptocurrencies, including BEAM. It is favored for its security features, its user-friendly layout, and the ability to swap cryptos within the wallet.
4. Hardware Wallets: Hardware wallets, such as Trezor or Ledger, are considered highly secure as they store the private keys in a protected area of a microcontroller and cannot be transferred out of the device in plaintext.
5. Paper Wallets: For those wanting ultimate security and don't need to access their BEAM often, paper wallets can be an option. This method involves printing out your public and private keys and storing them in a secure location.
6. Mobile Wallets: These are wallets that run on an app on your phone. They are useful as they can be used anywhere including retail stores. Beam also has a mobile wallet available, which can be downloaded from the app store.
7. Desktop Wallets: Desktop wallets are downloaded and installed on your computer. They can only be accessed from the single computer in which they are downloaded. The Beam desktop wallet is available on the Beams official website.
Storing your BEAM tokens, just like any other digital asset, involves understanding the risks and responsibilities involved. Your tokens are as secure as the precautions you take, and it is always recommended to go the extra mile when it comes to securing them. Always make sure to keep your private keys private and always maintain backups of your wallets.
Buying Beam (BEAM) may be suitable for diverse types of investors or interested parties, depending on their financial goals, risk tolerance, and interest in unique cryptocurrency features. Here are few recommended categories:
1. Privacy enthusiasts: Beam is built upon the MimbleWimble protocol aiming to provide superior privacy than other cryptos. If privacy is paramount in your interactions with digital assets, Beam could be interesting for you.
2. Technological adopters: Beams utilization of cutting-edge tech such as Mimblewimble and Dandelion++ provides a technological edge. If you're someone who values advanced technological design within a crypto, Beam may be a desirable option.
3. Speculative buyers: Cryptocurrencies, due to their volatility, are often chosen by traders seeking to profit from price fluctuations. If you're a speculative trader, the price movements of Beam might present buying opportunities.
4. Long-term investors: If you believe in the long-term viability of privacy-focused cryptocurrencies and Beam's place in it, you might consider it for a long-term hold.
However, here are some things to consider:
1. Market Research: Perform in-depth research into Beam—its underlying technology, development team, roadmap, and competition.
2. Volatility: Cryptocurrencies, including Beam, can be highly volatile. Be prepared for potentially large price moves, both up and down.
3. Regulation: Regulatory actions can impact crypto prices significantly, either positively or negatively. Keep an eye on regulations relevant to privacy-based cryptocurrencies as they can impact the value of Beam.
4. Beams standing: Stay updated with Beam's latest developments, partnerships, and technological advancements. Realize that Beam is competing in a crowded market with other privacy-focused cryptocurrencies.
5. Risk Management: Do not invest more than you can afford to lose. Diversify your investment portfolio to distribute the potential risk.
6. Professional Advice: Consider seeking advice from a financial advisor knowledgeable in cryptocurrency investments. They can potentially guide you based on your financial goals and risk tolerance.
Remember, investing in cryptocurrencies involves a substantial risk of loss and is not suitable for every investor. Carefully consider your financial situation and risk tolerance before investing.
Beam is a privacy-focused cryptocurrency leveraging the Mimblewimble protocol to enhance transactional anonymity. Its inception in 2018 by founders Alexander Zaidelson, Amir Aaronson, Alex Romanov, Sergey Bakhvalov, and Vlad Ginzburg has spearheaded a new wave of technology promoting user security and privacy. The Beam token can be traded on various exchanges, including Gate.io, MEXC, CoinEx, and more, and can be stored in various wallets such as the Official Beam Wallet, Trust Wallet, and Atomic Wallet.
Regarding its development prospects, Beam's focus on privacy and scalability could position it favorably, especially among users prioritizing transactional privacy. Its unique features such as the MimbleWimble protocol, the 'cut-through' functionality for an efficient blockchain, and the opt-in auditability offer users flexibility and functionality in their cryptocurrency transactions. Its usage of the 'halving' mechanism for token issuance intends to create scarcity and potentially drive value, comparable to what Bitcoin has done.
However, as with all cryptocurrencies, Beam's appreciation potential involves several uncertainties and risks. The volatility of the crypto markets, regulatory challenges around privacy coins, and the level of competition from other privacy-based coins like Monero and Zcash are some of the factors to consider. Beam's price is market-driven and depends on supply and demand factors, perceptions of its future value, technological developments, and the broader crypto market sentiment. Therefore, as with any form of investment, potential investors should conduct thorough research and possibly seek advice from financial professionals. Beam's current use case and technological advantage doesn't guarantee future profitability or value appreciation. It can potentially be a profitable investment, but it's essential to approach it with a thorough understanding of the risks involved.
Q: What is Beam's main function in the crypto world?
A: Beam is a privacy-centric cryptocurrency that offers encrypted and secure transactions using the Mimblewimble protocol.
Q: Which exchanges facilitate the trading of BEAM tokens?
A: Several exchanges, including Gate.io, MEXC, CoinEx, and more, offer trading services for Beam.
Q: What wallets can be used for the storage of Beam tokens?
A: Beam can be stored in various wallets such as the Official Beam Wallet, Trust Wallet, Atomic Wallet, or even hardware wallets like Trezor or Ledger.
Q: How does Beam distinguish itself from other cryptocurrencies?
A: Beam differentiates itself through its privacy focus and the use of Mimblewimble protocol, offering enhanced transactional privacy by encrypting all transaction data.
Q: What potential advantages does Beam offer to its investors?
A: Beam provides privacy, scalability, and the potential for appreciation due to its diminishing emission policy, although this cannot be guaranteed.
Investing in cryptocurrencies requires an understanding of potential risks, including unstable prices, security threats, and regulatory shifts. Thorough research and professional guidance are advised for any such investment activities, recognizing these mentioned risks are just part of a wider risk environment.
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