Beam
Crypto Overview
Overview
Beam is a privacy-focused cryptocurrency launched in January 2019, implementing the MimbleWimble protocol. It aims to create a confidential and scalable blockchain platform where transactions maintain privacy by default.
Intended Utility
The primary purpose of Beam is to serve as a privacy-preserving medium of exchange. It implements confidential transactions while maintaining auditability when needed. The project emphasizes both privacy and scalability as core features.
Actual Utility and Development
The cryptocurrency is actively used for private transactions, with ongoing development maintained by the Beam Foundation. The project has implemented several notable features including atomic swaps, confidential assets, and DeFi capabilities through BeamX protocol.
Token Distribution and Governance
Beam implements a fair launch model with no ICO or premine. The token distribution occurs through mining rewards, with 20% of newly minted coins allocated to the Treasury for continued development. This approach demonstrates a commitment to decentralized distribution.
Technical Implementation
The project uses Beam Hash III as its mining algorithm, implementing regular hard forks to maintain ASIC resistance. The protocol includes features like opt-in auditability, atomic swaps, and confidential assets, all built on sound cryptographic principles.
Revenue Model
The project's revenue model is based on mining rewards and treasury allocations, avoiding interest-based mechanisms. The BeamX protocol's DeFi features are designed to be compliant with financial principles that avoid 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.