What coin is BEAM? What is the value of BEAM coin

Powered by MimbleWimble and Confidential Transactions, BEAM enables anonymous and untraceable transactions while boasting enhanced scalability.

Feb 06, 2025 at 09:30 am

Key Points

• BEAM is a privacy-centric cryptocurrency designed to provide anonymous and untraceable transactions.
• It utilizes MimbleWimble and Confidential Transactions protocols to achieve enhanced privacy and scalability.
• As of March 8th, 2023, BEAM has a circulating supply of 159 million coins and a market capitalization of approximately $282 million.

What is BEAM?

BEAM is a private, anonymous, and scalable cryptocurrency that allows users to make untraceable transactions while preserving the privacy of their identities and balances. Unlike many other cryptocurrencies, BEAM does not store addresses or amounts in its blockchain, making it highly secure and resistant to tracking.

How does BEAM work?

BEAM employs a combination of two advanced cryptographic protocols: MimbleWimble and Confidential Transactions.

• MimbleWimble: This protocol eliminates redundant transaction data from the blockchain, reducing its size and improving its scalability. Transactions in MimbleWimble are represented as succinct equations, significantly reducing the storage space required.
• Confidential Transactions: This protocol enables users to keep their transaction amounts private while proving the validity of their transfers. Confidential Transactions rely on zero-knowledge proofs to ensure that transactions are legitimate without revealing any sensitive information.

What are the benefits of using BEAM?

• Enhanced Privacy: BEAM prioritizes privacy by providing sender and recipient anonymity as well as concealed transaction amounts.
• Improved Scalability: The use of MimbleWimble allows BEAM to handle a high volume of transactions without sacrificing decentralization or security.
• Fungibility: BEAM coins are fungible, meaning they are indistinguishable from one another, ensuring that all coins hold equal value and are equally desirable to users.

How do I buy and store BEAM?

• Buying BEAM: BEAM can be purchased on a limited number of cryptocurrency exchanges, including KuCoin, Gate.io, and Hotbit.
• Storing BEAM: BEAM can be stored in any wallet that supports the BEAM blockchain, such as the official BEAM Wallet, Exodus, or Atomic Wallet.

FAQs

• Is BEAM a Proof-of-Work or Proof-of-Stake cryptocurrency? BEAM uses a hybrid consensus mechanism called Proof-of-Work/Proof-of-Stake (PoW/PoS).
• What is the block time for BEAM transactions? BEAM has a block time of approximately 60 seconds.
• Is BEAM mineable? Yes, BEAM is mineable using specialized mining hardware.
• What is the block reward for mining BEAM? The current block reward for mining BEAM is 25 BEAM coins.
• Where can I find more information about BEAM? More information about BEAM can be found on its official website, GitHub repository, and Discord server.