This includes everything from asset transfers to smart contract executions, underpinning the network’s operations and governance. The $BEAM token also plays a crucial role in the Merit Circle DAO, empowering token holders with governance rights, thus fostering a community-driven approach to decision-making and development. The native cryptocurrency of the Beam network, $BEAM, plays a pivotal role in this ecosystem. It is used to pay for transactions, interact with smart contracts, and participate in the governance of the Merit Circle DAO. This decentralized autonomous organization is a key component of Beam’s governance structure, allowing $BEAM holders to influence the direction of the project. It also encompasses a decentralized exchange, providing a platform for the seamless exchange of assets within its network.
latest Beam news
- Users have total access and control over their privacy, deciding who can access their information and what they are allowed to see.
- It’s a significant step forward in ensuring user transactions remain private and secure, safeguarding against potential privacy vulnerabilities.
- Beam is being traded on 35 cryptocurrency exchanges, including Binance and Kraken.
- It’s interesting that at the end of June the coin rate came pretty close to the max value.
The Dandelion Protocol allows Beam to support dummy inputs and outputs. Mimblewimble has also streamlined the blockchain by using transaction aggregation that rids us of the need to store most past transaction data. Within Mimblewimble blocks the transactions look like a random mix of outputs and inputs. This allows faster synching of nodes since they need only verify the authenticity of certain recent inputs rather than the entire blockchain. A pivotal moment in Beam’s history was the establishment of the Beam Foundation Limited, a step that underscored the project’s commitment to governance and sustainable development. This move was crucial for fostering a community-driven approach to decision-making and project evolution.
What was the price at ICO?
Beam cryptocurrency is all about keeping your transactions private and secure, using some pretty slick tech to make sure your business stays your business. The BeamX rollout on October 21st, 2021, let users stake their idle $BEAM tokens to earn $BEAMX. Participants could earn $BEAMX by being a liquidity provider (LP) to DeFi apps governed by the DAO or by participating in governance voting. Beam takes privacy seriously with Mimblewimble and Lelantus protocols on Layer 1. Transactions are routed through Dandelion++ and merged in the stem phase on Layer 0, ensuring all transactions are private by default.
Current BEAM market cap?
The platform supports a variety of transaction types, including escrow and atomic swaps, which are essential for secure and trustless exchanges between parties. Furthermore, its time-locked transactions add an additional layer of security and flexibility, enabling users to set conditions for when funds can be accessed. Together, these technologies provide a robust security framework for Beam, ensuring that transactions are not only private and untraceable but also secure against various types of cyber threats. This comprehensive approach to security is what underpins Beam’s network, making it a secure platform for conducting confidential and anonymous financial transactions. As of today, BEAM tokens are traded only on the second version of Uniswap decentralized exchanges and can be bought only with ETH coins. No centralized exchanges listing means it’s less accessible for many investors.
Besides functioning as a gas token that fuels the Beam network, $BEAM is the heart of the governance of the Merit Circle DAO. Stronger privacy controls are at the top of the list of Beam’s features. It’s believed that other privacy coins have defined a privacy model that only makes transactions private What is BEAM coin when specifically requested rather than adding privacy by default. The Beam network is secured using the Equihash proof-of-work algorithm, known for its ability to manage large data volumes efficiently. This choice reflects Beam’s commitment to maintaining a robust and secure network for its users.
