What is Beam (BEAM)? Cryptocurrency with High Privacy and Scalability

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Bittime - In the cryptocurrency, BEAM is emerging as one of the projects that is attracting attention. In this article, we will take a thorough look at BEAM, including its main products and features, BEAM token functionality, tokenomics, fundamental analysis, comparison with competitors, and relevant conclusions.

What is Beam?

BEAM is a cryptocurrency designed to provide high transaction privacy and scalability. In contrast to some other cryptocurrencies that are based on blockchain technology , BEAM uses the Mimblewimble protocol to provide strong privacy to users and maintain efficient transaction scale.

Beam Key Products and Features

1. Privacy: One of BEAM's main features is its strong privacy. Using Mimblewimble technology, BEAM allows users to carry out transactions without disclosing their personal information, such as the transaction amount or recipient address.
2. Scalability: BEAM also offers high transaction scale. The Mimblewimble protocol allows merging transactions, which results in smaller blocks and allows the BEAM network to handle high transaction volumes quickly and efficiently.
3. Security: Although its primary focus is on privacy, BEAM also places security as a priority. Users can trust that their transactions are secure and irreversible.

Also Read: 3 Effective Cryptocurrency Trading Strategies

What are BEAM Tokens?

BEAM tokens are digital assets that are used within the BEAM ecosystem for various purposes, namely as follows.

1. Payment: Users can use BEAM tokens to make payments for goods and services on platforms that accept BEAM as a payment method.
2. Rewards: BEAM is used as a reward for users who participate in certain activities, such as mining or providing liquidity on the related DeFi platform.
3. Governance: BEAM token holders have voting rights in decision-making regarding the development and direction of the BEAM project.

BEAM Token Tokenomics

• Maximum Supply: 262 million BEAM tokens?
• Circulating Supply: 148 million BEAM tokens.
• Distribution: Distribution of BEAM tokens is carried out through mining and airdrops to the BEAM community.

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Beam Fundamental Analysis

Beam's fundamental analysis (BEAM) covers several key aspects that influence the value and growth potential of the project. Here are four aspects of fundamental analysis that are usually considered.

1. Technology: Beam uses innovative Mimblewimble technology to provide strong privacy and high transaction scale. The platform is designed to meet the needs of users who care about their privacy.
2. Team: The development team behind Beam consists of individuals experienced in cryptography, blockchain technology, and software development. They have a clear vision to bring privacy to the world of cryptocurrency.
3. Community: The Beam community continues to grow, with thousands of users actively using the platform and participating in project development.
4. Adoption: Although still in the development stage, Beam has managed to gain significant adoption among users and developers who care about their privacy.

Comparison of Beam and Competitors

1. Scalability: Beam offers high transaction scale thanks to the Mimblewimble protocol, but several competitors also offer similar solutions.
2. Fees: Transaction fees on Beam tend to be low, making it an economical choice for users looking for a secure and efficient payment solution.
3. Security: Beam places security and privacy as a priority, but several competitors also offer strong security features.
4. Adoption: Beam has gained significant adoption, but competition from competitors remains. Beam is constantly trying to improve its services and attract more users.

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Conclusion

Beam is a cryptocurrency that offers innovative solutions for privacy and high transaction scale. With advanced products and key features, as well as a commitment to technology, team and community, Beam has great potential to continue to grow and become a leader in the cryptocurrency industry. Thus, Beam is an attractive choice for users looking for a secure, efficient and private payment solution.

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To be able to buy crypto assets on  Bittime ,  make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into  your wallet . For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

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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.