What is beam and its impact?
Beam is a cryptocurrency that emerges as an alternative for users with the desire to keep their financial transactions anonymous or confidential
Each transaction in most of the blockchain is stored and stored in blocks, this is a system that generates waste which releases information of the transactions carried out
Why beam and mimblewimble is the solution to confidentiality problems?
Beam uses Mimblewimble technology which offers users the opportunity to have total control and privacy when making a financial move.
Mimblewimble has different qualities and characteristics that make it unique as for example, they do not use signature rings
It does not have reusable addresses, at the moment of making a transaction the address changes randomly, this means that it is impossible to identify a user by means of his address. Use "blinding" allow to hide different values
Mimblewimble has a unique and fast storage system, it does not need to store all the verified data, this has a lot to do with the chain of blocks, which are shortened.
Thanks to all these features offered by Beam (Mimblewimble) becomes the number 1 option when seeking confidentiality for the financial movements of users
What is the benefit of having the ability to choose levels of privacy according to the use case?
The benefits that can be obtained when using Beam can be summarized in two words ... security and anonymity
The benefits offered by Beam allow the user to have total control over their privacy, thus giving benefits either directly or indirectly
Some examples can be: financial autonomy or protection of possible hacks
How does allowing smaller blocks increase performance and scalability (Mimblewimble)?
By using smaller blocks, the number of steps and data to be stored in the blockchain is reduced. This generates a more secure and faster traffic
If a transaction goes from A, to C, passing through B. It would be saved like this: A-B-C
But with the smaller blocks used by Beam it would look like this: A-C
Use cases
Jose is a renowned economic adviser, who likes to keep his transactions and movements anonymously for work reasons.
When investigating Jose discovers Beam as an alternative to protect their confidentiality and decides to make use of it.
Currently Jose does not care about his security and financial confidentiality because he uses Beam
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