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Beam- Confidential privacy De-Fi blockchain

Tue, 13 Feb 2024, 09:51 am UTC

The beam is the top Mimblewimble L1 privacy blockchain, completely concealing transactions.

Mimblewilmble- Mimblewimble is a privacy and scalability-focused blockchain protocol that was introduced in a white paper titled "Mimblewimble" in July 2016. It is a blockchain that features anonymous transactions.

Confidential transactions are implemented by using a cryptographic commitment scheme which has two basic properties: hiding and binding. It helps to enhance privacy.

Beam offers the creation of new asset types on the blockchain called Confidential Assets (CA). Each new CA is designated as a first-class citizen in Beam nodes due to the Layer 1 implementation and does not require using Smart Contracts like Ethereum ERC-20 tokens.

Cut through- Mimblewimble uses a new mechanism called Cut through. It aggregates multiple transactions into a single one to improve scalability.

Private transaction- All transactions in Beam are private by default. Expect participants no one can see the sender and receiver of the transactions.

Atomic Swaps- Beam has an in-built Atomic saps functionality. It allows the transfer of cryptocurrencies directly between users of different blockchain networks without any third parties.

Beam also supports many transactions such as escrow and time-locked transactions.

Blocks are mined using the Equihash Proof-of-Work algorithm.

Beam is an open-source blockchain specialized for gaming. Beam SDK


Transaction per second 17

Block time- 100 beams per block.

BEAMUSD surged more than 80% this month. It hit a high of $0.0302 and is currently trading around $0.0288.

The bullish invalidation can happen if the pair closes below $0.0150. On the lower side, the near-term support is $0.0240. Any break below target $0.0200/$0.0150. Any breach below $0.0150 targets $0.0100.

The immediate resistance stands at around $0.0300. Any breach above confirms bullish continuation. A jump to $0.035/$0.040 is possible. A surge past $0.0400 will take it to $0.050.

It is good to buy on dips around $0.0200 with SL around $0.0150 for TP of $0.0350.

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