Price Data, Market Cap & News for BEAM ($BEAM) Cryptocurrency

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An Overview of BEAM

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Overview of BEAM

A Glimpse into BEAM

BEAM is a unique digital currency that prioritizes privacy and confidentiality. It operates on a decentralized finance (DeFi) platform, combining two blockchain protocols - LelantusMW and Mimblewimble. Launched in 2018, BEAM aims to enhance the anonymity of transactions, address balances, and user identities, addressing the privacy concerns associated with public-blockchain cryptocurrencies.

The Minds Behind BEAM

The team leading BEAM includes Alexander Zaidelson, Alex Romanov, and Amir Aaronson. Zaidelson, the CEO, has a rich background in software development and has founded several startups, including a P2P file-sharing company, Nareos. Romanov, the CTO, brings his experience from working on complex projects with large teams. Aaronson, the COO, has co-founded several tech companies alongside his work on BEAM.

Token Supply

The exact number of BEAM coins in circulation is dynamic due to the coin's emission schedule. The total supply is capped at 262,800,000 BEAM, ensuring a scarcity factor. The emission of BEAM coins decreases every year, contributing to its value over time.

Where to Buy BEAM

BEAM is available for purchase on various popular cryptocurrency exchanges. However, it's important to research and choose a reputable exchange that offers security and ease of use. Always ensure to store your BEAM in a secure wallet after purchase.

Applications of BEAM

BEAM's primary use is to facilitate private, secure transactions between parties. It eliminates the risk of user data mismanagement, making the system more secure. BEAM's blockchain, built from scratch using the C++ programming language, supports custom transactions, including escrow, atomic swaps, and time-locked transactions. User addresses remain confidential, with users having full control over their privacy and who can access their information.

Latest News and Developments

BEAM continually evolves, with recent developments focusing on enhancing its privacy features and expanding its usability. The team has recently introduced Confidential Assets, allowing users to create their own privacy tokens. This feature is a significant step towards a more private DeFi ecosystem. In terms of partnerships, BEAM has collaborated with various companies to expand its reach and utility. Always stay updated with the latest BEAM news today to keep track of its progress and developments.

Significant Technological Advancements

BEAM has been making significant strides in technological advancements. They have successfully integrated with Unstoppable Web3 Domains, simplifying the process of sending and receiving assets. They have also been working on adding hardware wallet support for Nano Ledger, which will enhance the security of transactions. Furthermore, they have been developing a decentralized application (DApp) network, which will allow developers to build on the BEAM platform while maintaining their privacy.

Community Engagement and Expansion

BEAM has been actively engaging with its community through initiatives like the Beam Feature Request. This initiative aims to align ongoing development efforts with the community's needs and wants. They have also been working on expanding their ecosystem by launching the Beam DEX, a platform that will allow for trade between BEAM and Confidential assets without the need for a third party.

Financial Developments

BEAM has successfully raised $9.5 million in a Series A funding round, which will help in further development and expansion. They have also proposed to allocate 6,000,000 BEAMX towards farming activity for the next two years to support ongoing liquidity. This shows that BEAM is not only technologically advanced but also financially stable and growing.

Looking Forward

BEAM has a lot in store for the future. They are set to celebrate their 4th anniversary on January 3rd, 2023. They are also planning to launch the Beam DEX on the mainnet and are working on the infrastructure & research for the Beam Anonymous Messenger Dapp. With these exciting developments, BEAM is definitely a cryptocurrency to watch out for.