Since Bitcoin was introduced into the technological space as a decentralized economic alternative, whose electronic transactions are registered in a chain of blocks and presented as a totally public and transparent accounting book with the information that identifies both the issuer and the receiver, several have been the applications that have adopted the different business areas with respect to this system.
Bean helps to ensure that this decentralized transaction system can count on a much-requested benefit from the public, especially by those corporations that handle large investments and are interested in crypto , this benefit, advantage or demand is identified as privacy, although transparency has turned out to be a successful attraction for bitcoin, this is not entirely perfect, over the last decade updates in the blockchain have made this system more efficient and productive in different aspects, everyone wants to contribute to make this movement as successful as possible, but bean wants to add a new feature to the blockchain pattern directly through MimbleWimble
Bean is simply a "scalable confidential cryptocurrency" [1], described by the following features:
For Beam privacy is paramount, this is the initial feature and perhaps the most important, since other functions revolve around it, this contribution to the blockchain is understood as the ability that beam users can have to control the information they share. in the transactions, choosing the level of privacy with which they wish to proceed, in this way the many potential users that plan to invest in crypto are pleased, but they abstain because they do not have an option like this, remember that many investors who manage large investments are of the conservative style for security and preference, and therefore this is a difficulty that is limiting for public that has a reserved position.
The Beam platform offers a wide range of transactions such as "escrow transactions, time locked
transactions atomic ", this indicates diversity in its options offering a complete and satisfactory customer service at all times, in which it is very likely to find alternatives that are not contemplated in other platforms and even in the expectations of the same users, of this In the same way, it can be added that Beam, with the experience it has, offers alternative, projective and profitable visions to the users who dare to work in it.
Scalability in Beam can be said to be the second most important feature of this platform, given the mechanism of confidence, technical knowledge indicates that the chain of blocks tends to be saturated with mere transactions, now add another function within these operations, limits the number of transactions, therefore beam uses MimbleWimble, to support these activities. In a very summarized way, what MimbleWimble does is compress several blocks into one, that is, take a set of transactions and consider them as one, this same concept applies to the whole chain, indicating this form as "cut", which allows transaction confirmations much faster, opening the way to incorporations of a large number of operations without presenting complications.
What can not be missing in a platform destined to transactions in the network is the compatibility with the different types of equipment in the market, this represents the accessibility of Beam from any device familiar with the "Equihash algorithm", this quality specifically made for the miners interested in Beam, for users it is evident the utility in services and tools, which provides an understanding of the mechanism and operation of Beam.
The essence of the blockchain lies in the transparency that exists in transactions from a point A to B, so that the information can not unequivocally be outside these 2 points; entry or exit, plus if we add to this that any operation is recorded unaltered in a block or book, so that it can be consulted publicly, the concept is clear, the blockchain was made to be shared by all. Now the Bitcoin, the first information to travel in this style of transfer represents in a certain way the strength and success of this system, with all the obstacles and speculations in which the blockchain has been calmly overcome, there are still ingconitas, details to be solved so that this science ends up establishing itself as the economy of the future.
The issue is that the system is only now (almost 10 years after its launch) that has generated trust in the communities, with different purposes and circumstances the blockchain does not represent the same for everyone, however privacy is not an issue in which until now has not been taken as a priority, the projects aimed at improving this system focus on sustaining the usefulness of the chain of blocks in commercial applications and companies, can then be considered that the demands of the public do not yet demand this and can be for that reason according to my consideration that the updates of the blockchain have not contemplated privacy.
It is almost popular knowledge that there are many obstacles, for which the chain of blocks does not stop coiling, but the most resulting is that the security of money in crypto and privacy are fundamental defects in which this system should make a correction and in view of this, it seems curious that Mimblewimble has been released anonymously as a solution to the privacy and performance of the blockchain in particular, this is mere speculation but it does not seem unreasonable to me that the same creators of bitcoin are trying improve their system, adding new tools to observe the behavior of the community, since at the end of the day it is the community or the currents that define the validity of an economy, as well as determine fiduciary currencies. Mimblewimble options seem like a genius, granting users the ability to choose privacy levels is one of the incentives that reserved profile users demand, where they obviously care about keeping their business out of exclusivity, avoiding tracking money and identities. of these people who care about security.
Who would you like to register your account statement? and see in it how much you earn or lose, those who store your fortune in crypto, do not feel comfortable that your money is in the public eye, even if few are trained for these, privacy is a right that the blockchain can not underestimate.
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