Question 1

What is Beam (BEAM)?

Accepted Answer

Beam is a privacy-focused cryptocurrency that launched in March 2018. Its primary goal is to create a truly confidential digital currency without compromising on usability. All transactions on Beam are private by default, and no identity-related information or addresses are recorded on the blockchain, making it one of the most private cryptocurrencies available.

Question 2

Who created Beam (BEAM)?

Accepted Answer

Beam was created by a team of world-class developers who shared the vision of creating a genuinely confidential cryptocurrency. The team assembled quickly and built the first version of the Beam blockchain in just nine months. The project is entirely open-source and coded entirely from scratch, making it unique compared to other cryptocurrencies that are often hard forks or clones of existing projects.

Question 3

What is Beam (BEAM) used for?

Accepted Answer

Beam is used as a deflationary cryptocurrency with capped emission and periodic halving every four years, similar to Bitcoin. It uses a Proof-of-Work consensus algorithm called BeamHash III and is currently mined on GPUs. Beam offers several features to its users, including Atomic Swaps, Direct Payment Channels, Confidential Assets, Decentralized Apps, and Smart Contracts. Beam also offers an Atomic Swap marketplace integrated into its wallets, making it easy for users to trade Beam for other cryptocurrencies. Finally, Beam wallets have a built-in Dapp store that provides easy access for users to decentralized applications.

***Although 'BEAM' was the ticker assigned at the deployment of the Beam Token's smart contract, it is already in use by another asset that has a larger market presence and higher trading volume on major exchanges. Due to this pre-existing association and to avoid confusion in the marketplace, the alternative ticker 'BEAMMW' has been adopted for this token. This designation is specifically used to ensure that assets are distinctly identified.***