Beam: The Privacy-Focused Blockchain for Decentralized Apps
The world of blockchain technology has come a long way since the inception of Bitcoin in 2009. As the industry has evolved, so have the needs of blockchain users. One of the most pressing needs in the industry today is privacy, and that’s where Beam comes in.
Beam is a layer one blockchain that utilizes the following features:
Mimblewimble is a privacy-focused protocol that was introduced in 2016. It was designed to address some of the privacy concerns associated with Bitcoin and other blockchains. Mimblewimble works by hiding the transaction inputs and outputs, making it difficult for outside observers to determine the sender, receiver, and amount of a transaction.
Zero-Knowledge Bulletproofs (ZKPs) are cryptographic proofs that enable the verification of a statement without revealing any information about it. They allow for the creation of a transaction proof that can be verified by anyone on the network without revealing any sensitive information about the transaction.
Dandelion++ is a privacy protocol that helps to obfuscate the origin of a transaction by transmitting it through a series of hops before broadcasting it to the network. This makes it more difficult for outside observers to track the transaction back to its source.
Lelantus is a privacy protocol that allows users to make anonymous transactions on the Beam blockchain. It works by breaking down a transaction into smaller denominations and then combining them in a way that makes it difficult to trace the original source of the funds.
By utilizing these privacy-enhancing technologies, Beam is able to offer its users an unprecedented level of privacy and security. Whether you’re using Beam to send payments, store data, or build decentralized apps, you can rest assured that your information is safe and secure on the Beam blockchain.
Decentralized Apps on Beam
Beam is not just a privacy-focused blockchain. It is also a platform for decentralized apps (dApps) that require privacy and security. Developers can build dApps on the Beam blockchain and take advantage of its privacy features to protect user data and transactions.
For example, a messaging app built on the Beam blockchain could allow users to communicate without the risk of their messages being intercepted or traced back to them. A healthcare dApp could allow patients to securely share their medical records with doctors and hospitals without the risk of their personal information being compromised.
With DEX and a new Stablecoin(NPH) coming to the Beam and the ETH bridge ready on mainnet, we are expecting to see this privacy ecosystem grow starting in 2023.
This is just my(ChatGPT’s) random idea for Coin Telegraph post sort of things