Review on Beam by Pedro O. Alvino M.
A project for privacy
BEAM a project based on privacy, emerged to improve the privacy system of Monero and Zcash, in which the transaction will be private if required by the operator, instead with BEAM not, so that issuance will always be private of transactions in the network through the Mimblewimble protocol, which, so to speak, is an anonymously scalable solution.
When emerging at the beginning of the current year, there are still several updates to improve the BEAM ecosystem, as well as the inclusion of the BEAM network to the Cudo mining ecosystem, which will allow the Cudo mining network to make gains in the network through BEAM, in this way the CEO BEAM mentions that the relationship with the mining network must be crucial for the operation of BEAM.
Using the Mimblewimble protocol establishes better scalability, so that it reduces the blockchain size and eliminating old transactions giving way to new ones. In addition to the operation of the address system in the wallet, it will have to be managed by the operator in addition to that this same address will be modified in 24-hour intervals, in which it can be tedious but establish a transaction so it can become advantageous.
In addition, it establishes other security and privacy methods for the operator, through the Dandelion protocol that reduces the probability of linking personal data, as well as addresses and transactions and also establishes the communication of wallets through encryption messages
Today there are projects that come out with an improved version, because such is the case that BEAM is not left behind, as this could be fatal for managers but try to establish greater adoption of the project
Pros
- First project implementing with the Mimblewimble protocol
- Your ecosystem based on an easy-to-use private store of value
- When using the Mimblewimble protocol, the network is lighter and scalable
- Transactions are totally private, impossible to track.
- Supports digital sign integration
- It establishes a function that does not allow linking to personal data
Cons
- Several competitors in the market
- Relatively new project
- Your consensus protocol system can be detrimental because of the high energy consumption
- Currency management can be complicated
