BEAM Beam

Use Cases of Beam

Beam offers a variety of use cases due to its unique features focusing on privacy and scalability:

• Private Payments: Beam allows users to send and receive payments anonymously while ensuring the validity of transactions. This is particularly useful for individuals who value their financial privacy.

• Financial Transactions: Businesses can leverage Beam for confidential financial transactions with higher scalability and lower fees compared to other privacy-focused blockchains. This makes it an attractive option for companies that need to keep their financial dealings private.

• Supply Chain Management: Beam can be used to track the origin and ownership of goods privately while maintaining transparency and accountability. This is beneficial for industries where the provenance of goods is crucial.

• Decentralized Finance (DeFi): Beam enables privacy-preserving DeFi applications, potentially expanding the user base. Its compatibility with the Ethereum Virtual Machine (EVM) allows developers to port Ethereum-based applications onto Beam, enhancing its utility in the DeFi space.

• Gaming: Beam's focus on privacy and scalability makes it suitable for the gaming industry, where fast and secure transactions are essential. Its adoption in gaming is increasing, and it is actively collaborating with gaming platforms to enhance user experiences.

• General Confidential Transactions: Beam's use of Mimblewimble and Lelantus protocols ensures that all transactions are confidential by default, making it a versatile tool for any scenario where privacy is a priority.

Advantages of Beam

• Privacy: Beam highly values privacy by not storing users' addresses on the blockchain. Users can create a new receiving address for every transaction, ensuring that personal data remains confidential.
• Scalability: The Mimblewimble protocol used by Beam keeps the blockchain compact and efficient, reducing bloat and improving network scalability.
• Transaction Flexibility: Beam supports various transaction types, including time-locked transfers, atomic swaps, and escrow payments, thanks to its Scriptless Script technology.
• Audibility: Beam offers opt-in audibility, allowing users to save and share transaction history with auditors and regulators if needed.
• Decentralization: Beam is a decentralized Proof-of-Work (PoW) cryptocurrency that can be mined with GPUs, promoting equitable distribution of coins.

Disadvantages of Beam

• Interactive Transactions: Wallets need to interact to make a transaction, which can be a point of friction compared to traditional address-based transactions.
• Complexity: The use of advanced technologies like Mimblewimble and Scriptless Script might make Beam less accessible to beginners.
• Limited Adoption: Beam's success heavily relies on its adoption by various industries and communities, which can be a challenge.
• Regulatory Uncertainties: Like many cryptocurrencies, Beam faces regulatory uncertainties that could impact its price and adoption.
• Market Volatility: Beam's price can be highly volatile, which is a common risk in the cryptocurrency market.

Founders of Beam

Beam was founded by Alexander Zaidelson in 2018. He is an entrepreneur and investor with experience in the crypto industry and served as the CEO of the Beam Foundation.

Investors in Beam

Beam is backed by Merit Circle, one of the largest investment firms in the crypto gaming space. Merit Circle has invested heavily in Beam, leveraging its partnerships and expertise to drive growth and adoption. Additionally, Beam has strategic partnerships with various businesses and merchants, further expanding its investor base and ecosystem.

Key Points About Beam's Investors:

• Merit Circle: A leading investment firm in crypto gaming, providing significant capital and strategic support.
• Strategic Partnerships: Collaborations with businesses and merchants to enhance Beam's ecosystem and adoption.
• Diverse Investor Base: A mix of institutional and strategic investors contributing to Beam's growth and development.

Additional Insights:

• Gaming and Blockchain: Beam's focus on gaming and blockchain technology attracts investors interested in these emerging sectors.
• Privacy and Scalability: Beam's emphasis on privacy and scalability makes it an attractive investment opportunity for those seeking secure and efficient solutions.
• Growing Ecosystem: Beam's expanding ecosystem, including partnerships and community engagement, continues to attract new investors and users.

Halal Status of Beam

• Halal: Yes
• Reason: Beam has been screened against robust Shariah guidelines and is listed as halal by various sources, including Crypto Ummah and other Islamic finance platforms.