The world changes in an accelerated way and almost without us noticing. The way in which we make our consumption is modified; new things to use and buy arise every day and many times it is inevitable to fall in the trends.
Faced with these new things to try, we become vulnerable, we seem vulnerable and easy to manipulate. Therefore, every day new habits arise that, good or not, are installed in our societies.
In the modern era where everything is handled with the use of the cryptocurrency always in search of something that innovates the technology and the market, it provides us with a service that is really perceived as added value
The subject of the use of the cryptocurrency is always heard here and there, bringing with it new methods of safeguarding it and, at the same time, new ways of handling it. Today Beam was created, everyone will wonder what that is.
What is Beam?
In Bean all our transactions are private apart from our Cryptocurrency are confidential and scalable information about the participants of the transaction is not stored in the blockchain
This in turn uses a protocol of Mimblewimble that allows confidential transactions which allows all its values to be encrypted, which means that the values can not be seen directly. In order to understand a little more about Beam we must as close as it is Mimblewimble?
Mimblewimble
Solutions to enhance the scalability and privacy of Bitcoin continue to be developed in the blockchain ecosystem with a view to achieving greater effectiveness in the network. Among the proposals highlights MimbleWimble, which launched its test blockchain network yesterday and is being activated by different enthusiasts of the network.
This solution seeks to give network users greater privacy through transactions with multiple entries and exits, which will make it difficult to track the addresses of users. Also, it proposes to mix all the transactions among themselves to generate greater privacy in the network.
Distributed accounting technology platforms with this privacy capability are already in the market
The Solution - Beam
The concept of Mimblewimble is to enable privacy transactions without clogging up the network. Beam is building their network from scratch in C++ based on Mimblewimble for this reason.
With Mimblewimble at its core, Beam can scale to accommodate mass adoption while still maintaining reasonable block sizes and allowing full control over privacy!
With this system, unspent transactions outputs (a transaction received by a user which has persisted in the blockchain) can be proved to belong to the receiving user via the value of the message and the value of the blinding factor. After creating the transaction, only the commitment is recorded on the blockchain; not the addresses of the users or the amounts exchanged.
For more information watch this presentation by the CEO, Alexander Zaidelson:*
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