Review on Beam by Supertuck Cyclist
About Beam
Today I will tell you about the Beam coin, which was launched in January 2019. Beam is a Mimblewimble-based cryptocurrency that is not only privacy-focused but also scalable. While it gives its users full control over their own data, it is also successful in terms of performance.
I can say that Beam Coin was created to help fill the shortcomings in current privacy coins like ZCash and Monero. Stronger privacy controls are at the top of the Beam's features. I want to say that it defines a privacy model that makes transactions private only when specifically requested. Beam makes every transaction private by default.
Private transactions have the feature of hiding and blinding. This means that only the sender and recipient know the transaction amounts.
I also want to tell you that Mimblewimble is based on the Bitcoin protocol but has been modified to improve privacy and efficiency of the network.
Finally, I would like to say that Riccardo Spagni, one of the developers of Monero, one of Beam's biggest competitors, also emphasized that Mimblewimble privacy technology is quite "impressive" and expressed its respect for Beam's underlying technology.
Pros
- highly scalable
- mining currency
Cons
- several competitors in the market
- new and still in development
