BEAM Price

About the coin

Beam is a cryptocurrency that implements the Mimblewimble protocol, which is designed to enhance privacy and scalability. Unlike many other cryptocurrencies, Beam ensures that all transactions are private by default, meaning that no addresses or other private information are stored on the blockchain. This makes Beam a highly confidential and fungible digital asset.

Main features

Beam offers several core features that set it apart from other cryptocurrencies. These include complete control over privacy, superior scalability due to a compact blockchain size, and opt-in auditability. Beam supports both online and offline transactions, atomic swaps, and hardware wallet integration. The governance model of Beam is unique as it has no premine or ICO and is backed by a treasury. A non-profit foundation governs the protocol after the Mainnet launch.

How it works

Beam transactions are created by wallet owners using a secure channel, either online or offline. Both wallets involved in a transaction participate in signing it using the Schnorr protocol. Transactions are sent to nodes and contain inputs and outputs represented by Pedersen Commitments, explicit fees, and kernels. Each transaction also includes a non-interactive zero-knowledge range proof to verify the positivity of the output transaction value. Nodes verify transactions against the recent blockchain state stored as a Merkle Tree. Mined blocks containing new transactions are sent to known peers, and a valid block extending the longest chain is accepted as a new Tip and propagated until full consensus is reached. Beam also supports fast synchronization for new nodes by providing compacted history containing only system state and blockchain headers.