At 19:00 UTC today privacy coin beam completed its first scheduled hard fork at block 321,321.
Speaking with CoinDesk, CTO Alex Romanov said beam is on track with its initial goals. Romanov said the algorithm made beam more efficient and scalable:
Beam’s hard fork against ASICs, or application-specific integrated circuits, mirrors similar efforts by other cryptocurrencies, like privacy coin monero which hard forked in March over similar concerns.
Some cryptocurrency developers see ASICs as an unfair advantage for other users and often, in the name of decentralization or democratization of mining, have pushed for algorithms everyday laptops can run.
Going forward, Romanov says the foundation is focusing on the consumer side following a miner-focused hard fork. On the to-do-list includes atomic swaps, confidential asset development, hardware wallet integration with Trezor, and general wallet improvement.
Image via CoinDesk archives
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.