Beam cryptocurrency description
This crypto currency can be mined with the Beam Hash II algorithm. This is an algorithm modified from equihash. The project started in march 2018.
The Mimblewimble paper describes some problems in the bitcoin chain regarding privacy and replay requirements. Mimblewimble , that is special for this project, looks at the solutions for this.
So we have to do with a privacy coin here.
Official project link: https://beam.mw/
More information mainly news, can be found on twitter.
There is a very active discord channel for this coin. Invite here
There are around 15 exchanges and 30 markets / trading pairs for this cryptocoin. Binance seems to be the most serious exchange
Review for Beam
Usually mining with CPU or Graphic cards results in a wide distribution of a coin. I am not a miner, I just know that mining is hardly profitable in most countries in the world. Depending on electricity prices of course.
In the explorer you can’t find anything about distribution of the coins over all addresses , or anything about the number of addresses in use. This is a feature of this coin. Consider its good or bad.
The number of exchanges were you can trade Beam ,as mentioned above (under markets) is fine.
Overall this coin does not look bad , but it is a competitor in the privacy coin part of the crypto world. When I hear or read privacy coin , the first one that comes to mind is Monero, sorry Beam. The active community makes really sense for the future of a cryptocurrency.
We have not found shops so far where Beam is accepted or another use case.
Update: in november 2019 there is news about the privacy aspects of Mimblewimble being broken. Someone setup a VPS server monitoring the chain , and is able to monitor the transactions ,where they come from and where they are going. It still does not provide information about the user, but when following the coins on the chain is possible, that is just the next step.
Last update of this page : 19-11-2019
Disclaimer : I am not holding any Beam coin. Always do your own research before mining or trading this coin.