What is Beam (BEAM)

Beam, $BEAM: A Comprehensive Overview

Introduction

In the rapidly evolving world of blockchain technology, Beam stands out for its dual initiatives - one focusing on privacy and the other on gaming. The unique elements of these projects highlight the diverse possibilities within the crypto landscape. This article aims to provide a detailed overview of both the privacy-focused and gaming-focused Beam projects, revealing their goals, creators, functionality, and historical milestones.

What is Beam, $BEAM?

Beam represents two distinct projects, each with a unique aim and operational framework.

1. Privacy-Focused Beam

Overview:
The privacy-focused Beam project is a groundbreaking decentralized finance (DeFi) blockchain. Built with a strong emphasis on privacy-by-default transactions, it utilises advanced cryptographic protocols - including Mimblewimble, Lelantus-MW, and Dandelion - to facilitate anonymous transactions.

Aim:
The primary objective of this initiative is to create a confidential cryptocurrency that prioritises user privacy without sacrificing usability. By doing so, it aims to redefine the standards of privacy in the cryptocurrency space, offering a secure environment for users concerned about their financial anonymity.

2. Gaming-Focused Beam

Overview:
The gaming-focused Beam project, launched by a decentralized autonomous organization known as Merit Circle, aims to revolutionise the gaming experience within the web3 ecosystem. This project operates as a subnet on the Avalanche blockchain, integrating with LayerZero for enhanced interoperability.

Aim:
Its main goal is to elevate player experiences through innovative gaming solutions and efficient asset trading mechanisms. The project seeks to marry traditional gaming principles with the benefits of blockchain technology, delivering a cutting-edge platform for gamers worldwide.

Who is the Creator of Beam, $BEAM?

1. Privacy-Focused Beam

The privacy-focused segment of Beam was founded by a talented team comprising:

• Alexander Zaidelson: Former CEO of Beam and a key figure in shaping its vision.
• Yoni Ben-Shimon: Involved in the foundational aspects of the project.
• Alex Romanov: Current CTO, responsible for technological advancements within Beam.
• Amir Aaronson: COO, who oversees operational strategies of the project.

2. Gaming-Focused Beam

The gaming-focused Beam was launched by Merit Circle DAO, a collective of forward-thinking individuals dedicated to supporting web3 gaming initiatives. However, information on specific individual contributors is not readily available.

Who are the Investors of Beam, $BEAM?

Currently, the details regarding the investment foundations or organizations supporting each initiative of Beam remain unspecified. Despite this, the support from institutions aligned with DeFi and gaming innovations is essential for the growth and sustainability of these projects.

How Does Beam, $BEAM Work?

1. Privacy-Focused Beam

The workings of the privacy-focused Beam project are distinguished by a series of innovative features:

• Cryptographic Protocols: By utilising Mimblewimble and Lelantus protocols, the project ensures that all user transactions remain private and secure, shielding them from potential surveillance or tracking.

• Proof of Work Model: Operating on a proof-of-work (PoW) mechanism with the Equihash algorithm, Beam maintains the integrity of its transaction validation process while upholding decentralisation.

• Advanced Features: In addition to its foundational protocols, Beam supports confidential functionalities such as time-locked transactions and atomic swaps, which allow for seamless asset exchanges between parties without exposure to external entities.

2. Gaming-Focused Beam

The gaming-focused initiative operates under a distinct paradigm:

• Avalanche Subnet: By functioning as a subnet on the Avalanche blockchain, Beam benefits from rapid transaction processing and low associated fees, ensuring an optimal gaming experience.

• Proof of Authority Transition: Initially deploying a proof-of-authority (PoA) model for block validation, the project plans a future transition to a proof-of-stake (PoS) model, promoting stakeholder engagement and decentralised validation.

• Interoperability Features: The integration of LayerZero enables seamless interaction among different blockchain environments, facilitating omnichannel non-fungible tokens (NFTs) that amplify the utility and potential for asset exchange within the gaming ecosystems.

• $BEAM Utility: The project employs its dedicated $BEAM token as a medium for transaction fees and will enable staking, promoting an engaged and dynamic user community.

Timeline of Beam, $BEAM

Privacy-Focused Beam

• March 2018: Launch of the privacy-focused Beam project, signalling its entry into the blockchain realm.
• January 3, 2019: Official launch of the mainnet, allowing users to participate in the ecosystem fully.
• March 2023: Introduction of Beam Bridge, facilitating cross-chain asset transfers between Beam and Ethereum networks, further enhancing its operability and user experience.

Gaming-Focused Beam

• October 26, 2023: Launch of the $BEAM token, marking a significant milestone for the gaming-focused Beam project.
• 2023: Official declaration of Beam as a public blockchain, inviting community participation and exploration.
• Future Plans: Commitment to transitioning to a proof-of-stake model for enhanced validation and expansion of validator networks, fostering a more comprehensive and inclusive blockchain ecosystem.

Conclusion

Beam, $BEAM, encapsulates two innovative blockchain projects that leverage unique solutions to address contemporary challenges in the realms of privacy and gaming. The privacy-focused Beam paves the way for confidential transactions, while the gaming-focused Beam redefines gameplay through blockchain integration.

Through diligent efforts by their respective teams and potential support from forward-thinking investors, both initiatives contribute to the wider spectrum of web3 and crypto projects, promising enhanced user experiences and groundbreaking technological advancements. As these projects continue to evolve, they exemplify the diverse applications and potentialities of blockchain technology in contemporary society.