What is a Beam? Special Blockchain for the Gaming World

Beam is one of the blockchain platforms that is bringing big changes to the gaming industry. Not just an ordinary gaming platform, Beam is the gateway to the future of blockchain gaming, combining innovation, security and convenience in one all-in-one ecosystem. Find other interesting information about what Beam is, how it works, superior features, and an overview of its tokenomics in the following review. 

What is Beam

Beam is a blockchain designed specifically for the world of gaming. Created by Merit Circle DAO, Beam operates on the Avalanche network and was designed to address specific challenges in the blockchain gaming industry.

Beam's main function is to enable efficient in-game asset transactions as well as support omnichain NFT creation and management.

How Beam Works

Beam is a decentralized finance (DeFi) platform focused on increasing privacy in transactions and user identity. Operating on top of the Mimblewimble and LelantusMW blockchain protocols, Beam delivers a solution for stronger transaction anonymity. 

Beam uses the Avalanche architecture which provides fast transactions with low fees. Using a Proof of Authority (PoA) consensus mechanism, Beam has plans to transition to Proof of Stake (PoS) in 2024. Validators in the Beam ecosystem ensure the security and quality of the network​​.

The main features of Beam include:

• Beam Hub: Information platform for web3 games.
• Beam Companion App: Makes it easy to manage accounts and in-game assets.
• Sphere: Marketplace for in-game assets.
• Beam Swap and Bridge: Facilitates in-game currency exchange and bridging between chains.
• Beam SDK: Toolkit for game developers for blockchain integration​​.

Who is the Founder of Beam

Beam, as a blockchain platform specifically for gaming, is the creative result of Merit Circle DAO. Merit Circle DAO is a decentralized autonomous organization (DAO) focused on the gaming industry. They built and developed Beam as part of their mission to revolutionize the world of gaming by integrating blockchain technology into the latest gaming experiences. 

Tokenomics and Use of Tokens

The BEAM token is the primary digital asset in the Beam ecosystem, used for transactions and in the governance of the Merit Circle DAO. With the planned transition to a Proof of Stake system, BEAM tokens will also have staking functionality.

BEAM's total supply reaches 63 billion tokens, with around 46.28 billion tokens already circulating on the market. The value of the BEAM token has increased since its launch, signaling its growth potential in the GameFi sector​​. Based on data from the coinmarketcap site, BEAM is in 72nd position globally with a market capitalization of IDR 14.16 trillion and daily trading volume reaching IDR 927 billion on December 19 2023.

Conclusion

Beam demonstrates great potential as an innovative DeFi platform, with a focus on privacy and security. Thanks to its unique features and architecture, Beam has great potential in the GameFi industry, promising an evolution in the use of blockchain in the gaming sector. The growth in value of the BEAM token also shows market confidence in its long-term potential.

DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.

Also read