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- 1 Beam is a cryptocurrency that was launched in 2018 with the goal of creating a truly confidential digital currency without compromising on usability.
- 2 Beam is the native crypto asset for the Beam network, a gaming network powered by the Merit Circle DAO.
BEAM is a cryptocurrency that prioritizes privacy, it was launched in March 2018. It aims to offer a truly confidential way of using digital money without sacrificing convenience. All transactions on Beam are private by default, and no information or addresses related to identity are stored on the blockchain, making it one of the most private cryptocurrencies available.
The Beam network, a gaming network powered by the Merit Circle DAO, uses the BEAM token as its native crypto asset. It is an ecosystem where gamers and developers unite to shape the future of the gaming industry. One of its main features is the Beam SDK, which is a flexible software development kit that permits game developers to choose from diverse to utilize Beam, BEAM is needed. This is the native crypto asset that is used to pay for transactions within the Beam network. This includes not only transfers of assets but also all interactions with smart contracts on the Beam network, enabling a smooth, immersive gaming experience.
In addition to being a gas token that runs the Beam network, BEAM is also the core of the governance of the Merit Circle DAO. This decentralized autonomous organization (DAO) was launched in early 2021 to transform the gaming industry. The $BEAM token allows its holders to participate in the governance of this DAO.
Founders of Beam
Developers who had a common vision of making a truly confidential cryptocurrency created Beam. The team formed quickly and developed the first version of the Beam blockchain in nine months. The project is completely open-source and coded from scratch, making it different from other cryptocurrencies that are often derived or copied from existing projects.
Uses of Beam
Beam is a cryptocurrency that reduces its supply over time with a fixed emission limit and a halving event every four years, similar to Bitcoin. It uses a Proof-of-Work consensus algorithm called BeamHash III and is currently mined on GPUs. Beam has several features for its users, such as Atomic Swaps, Direct Payment Channels, Confidential Assets, Decentralized Apps, and Smart Contracts. Beam also has an Atomic Swap marketplace built into its wallets, making it easy for users to exchange Beam for other cryptocurrencies. Lastly, Beam wallets have a Dapp store that gives easy access to decentralized applications.
Conclusion
Beam is a cryptocurrency that prioritizes privacy and aims to offer a truly confidential way of using digital money without sacrificing convenience. It is the native crypto asset for the Beam network, a gaming network powered by the Merit Circle DAO, where gamers and developers unite to shape the future of the gaming industry. Beam has several features for its users, such as Atomic Swaps, Direct Payment Channels, Confidential Assets, Decentralized Apps, and Smart Contracts, as well as a Dapp store and an Atomic Swap marketplace integrated into its wallets. Beam is also a deflationary cryptocurrency with capped emission and periodic halving, similar to Bitcoin, and uses a Proof-of-Work consensus algorithm called BeamHash III.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
