A privacy coin without addresses, Beam Privacy is a younger altcoin powered by some pretty exotic blockchain technology. It’s accepted by +300 businesses around the world; from Floridian coconut water to South African alternative medicine gurus.
Who Accepts Beam
Should you buy Beam?
BEAMs characteristics (decentralized, fixed supply, halvening cycle, and proof-of-work) are going to continue to make it attractive to cryptocurrency purists. According to some analysts, its privacy features are unmatched by the other privacy coins. Smart money will continue to flee inflation and taxation into privacy coins so I would anticipate it growing in value. At less than $2 per coin, it seems pretty undervalued at present, especially compared to the leading privacy coins which are worth hundreds.
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But with privacy coins, there’s always the risk that the government might decide that they don’t want people doing commerce with total privacy and ban them.
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Since Bitcoin, which was the ﬁrst implementation of the idea of a peer to peer electronic cash system proposed by Satoshi Nakamoto back in 2008, the ﬁeld of crypto currencies and blockchain based systems has exploded producing thousands of dierent projects, technologies and research papers. Today one can ﬁnd such projects ranging from distributed computing to Enterprise solutions and applied to all ﬁelds from medicine to automotive industries. However, the basic need for people to store their money and transact in a secure way without relying on a centralized authority is still the main use case and the most important, which is one of the reasons why Bitcoin is still the top cryptocurrency and is as inﬂuential today as it was almost ten years ago. In Bitcoin, as in most crypto currencies since, your balance is represented by a series of transactions which can be traced back to the very beginning of a blockchain. In order to trust the system we need to make sure that each transaction in a chain is valid, and to do so without relying on a centralized entity, which is the main purpose of Bitcoin nodes and miners. All participants in the system must agree, or using more professional terms “reach consensus”, on an ocial version of the transaction history and be able to do so without trusting each other or anyone else. The ability of the system to do so is the true strength of the Bitcoin idea.
From the introduction of the Beam whitepaper
Beam aims to offer a private, scalable, and easy-to-use cryptocurrency. All transactions on Beam are private by default and none of the cryptographic protocols used in Beam require a trusted setup. Like Bitcoin, scarcity is ensured by periodic halving. Beam did not have an ICO nor premise.