Beam
Crypto Overview
Project Overview
Beam is a privacy-focused cryptocurrency launched in January 2019, implementing the MimbleWimble protocol. It aims to create a confidential and scalable blockchain system where transactions are private by default, unlike many other cryptocurrencies where privacy features are optional.
Intended Utility
The primary purpose of Beam is to serve as a privacy-preserving medium of exchange and store of value. The project emphasizes confidential transactions while maintaining auditability when needed through a feature called 'opt-in auditability.'
Actual Utility and Development
Beam has demonstrated consistent development activity with regular updates to its core protocol. The project maintains active GitHub repositories and has implemented several significant upgrades, including atomic swaps and confidential assets. The ecosystem includes a desktop wallet, mobile wallet, and various privacy-preserving DeFi features.
Token Distribution and Governance
Beam implemented a fair launch with no ICO or pre-mine. The project is funded through a treasury mechanism where 20% of block rewards are allocated to the Beam Development Foundation. This approach aligns with Islamic principles of fair distribution and transparent governance.
Revenue Model
The project generates value through its native cryptocurrency BEAM, which is created through a Proof-of-Work mining process. There is no lending or interest-bearing mechanism in the core protocol, which keeps it aligned with Islamic finance principles regarding riba.
Crypto Impact
To assign a comfort level investing in Beam from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Beam.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.