YOU HAVE THE CONTROL, BEAM CAN RETURN OUR PRIVACY BACK

BEAM: THE DECISION ON YOUR HANDS

Blockchain technology allows users to have freedom over their commercial, financial and economic operations without being under a centralized system that is managed under certain parameters of people who do not have the security or confidence to manage our money.

The cryptocurrencies that are structured under a blockchain and decentralized technology provide its users with the necessary control and information of where, when, for what and with whom transactions are made with your money, that is, it gives you independence and security because practically in real time the transactions you do and nobody else can influence them. An example of this is Bitcoin cryptocurrency, which since its inception has worked with blockchain technology and offers these requirements and many more to its users.

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However, in the Bitcoin blockchain there is sensitive information that should not be shown to everyone (we already know what can happen if you put all your information on a website), many users prefer to have their identity incognito as well as total balances of your accounts, but this is not possible because with a careful study in the blockchain of the transactions you have made can easily give with the identity of the user, that is why BEAM emerges hand in hand with the transparent, incorruptible and unbreakable system of blockchain, is a confidential cryptocurrency that is based on certain protocols where the identity and certain personal information of the user will not be in full visibility.

GIVE YOURSELF THE VALUE OF YOUR INFORMATION, BEAM IS THE NECESSARY TOOL

BEAM has two fundamental principles

1. Private by default: the user has complete control of their information. They can place what is relevant to know, of course, always based on the blockchain technology and its codes the user can have transparency, independence and privacy in the data that want to share.

2. Protocol based on Mimblewimble: it is an elegant design that can be implemented in blockchain technology based on two concepts: confidential transactions and transaction cut.

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Confidential transactions are based on hiding and binding, where the user can at a specific moment to encrypt a certain information and at the indicated time reveal that information, the person who is shown can only observe the information provided without any indication of a later information. With respect to the transactions cuts allow merging certain transactions. An example of these cuts is when there are two transactions A to B and then B to C, the result of implementing these cuts is a transaction A to C, this is known as UTXO unused transaction output.

Let's explain this in a simple way. Mimblewimble establishes a scheme using cryptography called Pedersen Commitment

C = R * G + V * H

Where each letter means:

R = BLINDING FACTOR, this is a kind of key that allows to temporarily hide the real value. (this will only depend on what the user wants to show). V= A REAL VALUE

G, H = Generators of an elliptical cryptography. Cryptography with elliptic curves usually tend to be faster and contains short keys, providing a high level of security.

Basically, the Mimblewimble scheme consists of a linear combination of two factors, one real and the other blinding.

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To understand how Mimblewimble works, if we play a video game where its theme is spells, Mimblewimble would be a spell that aims to show the skills that the game just wants others to see and at a certain moment reveal those skills. Another example would be when you give a gift, basically you know who gave it, to whom it is given, what is the gift and on what date the gift was delivered, this without giving the information of how much cost and where the purchase was made.

BEAM AND MIMBLEWIMBLE OF THE HAND FOR FASTER TRANSACTIONS!

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When using the cut of transactions, it allows that the transactions that are going to be visualized in a block of the chain have entrance and exits, since the intermediate transactions, personal directions or information that simply are not opportune in the transaction will be fused and in such case they will only appear in the blockchain as headers of the transaction, which will generate more rapidity in the search for information and in the transactions that they wish to make.

WHAT ELSE DO YOU NEED TO KNOW ABOUT BEAM?

BEAM uses Equihash, a mining algorithm. BEAM has an implementation from zero C ++. BEAM assured that for a very close future its performance would be better than Bitcoin and other cryptocurrencies. BEAM in its vision plans to be used as a store of value. BEAM at its launch will have an application for MAC, WINDOWS and LINUX.

BEAM comparison

HOW BEAM CAN BE ADAPTED TODAY DAY

Laura works in an insurance company INSURANCE SA, where there are plans to ensure any type of property, vehicles and these can be canceled with cryptocurrencies. Clients and Laura are concerned that by using cryptocurrencies, anyone can make an analysis of the transactions that appear in the blockchain can find the address, cost, and valuation of the property policy, as well as the brand, cost and valuation of the vehicle. Laura found the solution to this problem, found BEAM, where the user can choose the degree of security and privacy using cryptocurrencies.

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Hector lives in another country and wants to help his parents financially. Hector is an expert in trading and cryptocurrencies and wants his parents to get involved in the world of new blockchain technology and cryptocurrencies, but his father is reluctant to this idea, because he has to put his personal data and how much he has in his wallet, He has read several cases where this information is used to track and rob people. Hector investigates the world of cryptocurrencies found BEAM, a magnificent and confidential cryptocurrency, an excellent solution for his father to trust and start working with Hector.

Marie is the new Director of International Purchases of FASTER.CO, due to the great flow, and boom Marie wants to market in cryptocurrencies, since in many countries in the world this new payment mechanism is being observed. However, your boss does not agree with this, since he does not want everyone to have sensitive information about the company and the daily activity that he does, he does not want to show the amount in exports and imports, he does not want to show how much the remuneration nor the number of people who are working, and above all do not want to give information on how much is the capital of the company. Marie is sure that she is in an opportunity that she can not let go, so she talks with her friend Luis to advise her, together she finds BEAM, the perfect cryptocurrency to be able to commercialize in cryptocurrencies as well as meet the privacy requirements she is requesting Marie's boss.

FINALLY

BEAM is a perfect combination between blockchain technology and privacy. BEAM allows us to show a new image of cryptocurrencies and thus show in an attractive way to people who are still afraid of being included in this new technological, financial, commercial and economic world. BEAM with its MimbleWimble protocol is the most ideal option for companies to venture into commercial transactions with cryptocurrencies, because due to their privacy criteria, not only companies but each individual will have control of personal or confidential information, which will also generate a greater speed in the search of the information in blockchain without putting in risk the privacy of the people.