Review on Beam by francis fernandez
Beam: Blockchain Scalability and Privacy in One Place!
Beam is a digital currency that offers users the opportunity to carry out transactions anonymously and privately within its blockchain.
The Beam project goes even further than just being a private currency; is a set of blockchain protocols, smart contracts and applications, which constitute an open business ecosystem that serves as the basis for developing decentralized financial services on a small scale. Therein lies its DEFI cryptocurrency feature.
Beam in addition to carrying out confidential transactions where all the information of the parties involved is stored anonymously and securely on its blockchain; it also represents a fully scalable digital currency.
What is Beam privacy?
In the Beam platform, the transfer of crypto assets is carried out peer-to-peer and by default in a private manner and the history of the operations is not completely shown to the public in the block validation process. This contributes to the scalability of the network.
The information of the transactions carried out by the user or the addresses are never stored in the blockchain, this is the reason for the anonymity and confidentiality of the protocol used by Beam.
This feature of Beam offers its users the possibility of exercising control over the privacy or not of their transactions; being able to decide what data they want to reveal and what not.
What is the protocol behind Beam privacy?
Beam uses the privacy protocol known as Mimblewimble. This protocol reduces block size without compromising network scalability.
What utilities does Beam offer its users?
In addition to private asset transfers, the technology used by Beam allows:
* Perform multiple operations such as: atomic exchanges, custody of assets, operations with block time, among others.
* Speed in the validation of transactions due to the reduction in details.
* Allows a limited download of coins.
* Privacy in transaction amounts.
Pros
- Fluency of operations quickly
- Control of the level of privacy of operations by the user.
- Control in the supply of coins. AGAINST:
Cons
- For many users the privacy of your platform could be considered not very well seen.
