the competition for Monero, Dash & co.: With Beam, there is a new Cryptocurrency that focuses on privacy. It is based on the Mimblewimble Protocol. Users should keep in the transaction the full control over your data.
By Phillip Horch
4. January 2019TeilenFacebookTwitterLinkedInxingemail
In the case of Harry Potter Fans are likely to ringing in the concept of „Mimblewimble“ the bells. He stands for a spell, the knotted human tongue, if you want to talk about topics you are not supposed to speak. The Blockchain came ultimately Equivalent to its name: The Mimblewimble Protocol for privacy, and their implementation in the crypto world. (In all necessary detail, read more here).
BEAM: properties in The Detail
Since the 3. January there is now a new crypto currency that uses the privacy Protocol Mimblewimble. As the new Coin of the must for the privacy of its users, they can decide for themselves how much and which information to share. Here, the authors describe the properties of the Beam on your Github Account is as follows:
allow users to keep total control over your privacy – you decide what information is to be displayed for which parties. So you keep control of your data in Accordance with your will, and appropriate laws.Confidentiality without punishment — in the case of BEAM sensitive transactions do not cause clogging of the Blockchain. As a result, you avoid Congestion or degradation of Performance and scalability, while the value of the transaction changes.You need no additional Setup.Mining works by the Equihash-Proof-of-Work algorithm.limited Emission by a periodic HalvingDie Blockchain does not store addresses. It stores no information about the Sender or receiver of transactions.Superior scalability due to the compact Blockchain size. By using the „cut through“Feature of Mimblewimble, the size requirements of the BEAM-Blockchain smaller than that of any other block chains.BEAM also supports many types of transactions, such as for example Escrow, timelock, or Atomic Swaps.No Premining. No ICO. Supported by their own restraint, is emitted from the blocks during the first five years.from the ground up in C++ implementiertBEAM: Bitcoin plus privacy
Overall, one may feel here is reminiscent of the properties of Bitcoin to a higher scale, and privacy features added. In the case of successful implementation (and acceptance) seems, therefore, clear Potential exists to add to the list of crypto currencies makes sense.