{"id":22101,"date":"2024-02-08T10:46:03","date_gmt":"2024-02-08T10:46:03","guid":{"rendered":"https:\/\/zebpay.com\/au\/?p=22101"},"modified":"2024-02-08T10:46:04","modified_gmt":"2024-02-08T10:46:04","slug":"what-is-beam-token","status":"publish","type":"post","link":"https:\/\/zebpay.com\/au\/blog\/what-is-beam-token","title":{"rendered":"What Is The BEAM Token?: A Peek Into The Future Of Digital Transactions"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_66_1 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/zebpay.com\/au\/blog\/what-is-beam-token\/#Introduction\" title=\"Introduction\">Introduction<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/zebpay.com\/au\/blog\/what-is-beam-token\/#What_is_BEAM_Crypto\" title=\"What is BEAM Crypto?\">What is BEAM Crypto?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/zebpay.com\/au\/blog\/what-is-beam-token\/#How_Does_the_BEAM_Token_Work\" title=\"How Does the BEAM Token Work?\">How Does the BEAM Token Work?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/zebpay.com\/au\/blog\/what-is-beam-token\/#BEAM_Crypto_Challenges_and_Concerns\" title=\"BEAM Crypto: Challenges and Concerns\">BEAM Crypto: Challenges and Concerns<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/zebpay.com\/au\/blog\/what-is-beam-token\/#Complexity\" title=\"Complexity\">Complexity<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/zebpay.com\/au\/blog\/what-is-beam-token\/#Centralization\" title=\"Centralization\">Centralization<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/zebpay.com\/au\/blog\/what-is-beam-token\/#Benefits_of_BEAM_Token\" title=\"Benefits of BEAM Token\">Benefits of BEAM Token<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/zebpay.com\/au\/blog\/what-is-beam-token\/#Enhanced_Privacy\" title=\"Enhanced Privacy\">Enhanced Privacy<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/zebpay.com\/au\/blog\/what-is-beam-token\/#Improved_Security\" title=\"Improved Security\">Improved Security<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/zebpay.com\/au\/blog\/what-is-beam-token\/#Scalability\" title=\"Scalability\">Scalability<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/zebpay.com\/au\/blog\/what-is-beam-token\/#Beam_SDK_Empowering_Game_Development\" title=\"Beam SDK: Empowering Game Development\">Beam SDK: Empowering Game Development<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/zebpay.com\/au\/blog\/what-is-beam-token\/#Merit_Circle_DAO_Governance\" title=\"Merit Circle DAO Governance\">Merit Circle DAO Governance<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/zebpay.com\/au\/blog\/what-is-beam-token\/#Future_of_BEAM_Crypto\" title=\"Future of BEAM Crypto\">Future of BEAM Crypto<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/zebpay.com\/au\/blog\/what-is-beam-token\/#Utility_in_Gaming\" title=\"Utility in Gaming\">Utility in Gaming<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/zebpay.com\/au\/blog\/what-is-beam-token\/#Sustainability\" title=\"Sustainability\">Sustainability<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/zebpay.com\/au\/blog\/what-is-beam-token\/#Other_Utilities\" title=\"Other Utilities\">Other Utilities<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Introduction\"><\/span>Introduction<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The Beam (BEAM) Token is the native crypto of a decentralized gaming network called Beam. The BEAM network allows gamers and developers to collaborate and engage themselves in immersive gaming experiences.<\/p>\n\n\n\n<p>It is a confidential decentralized finance (Defi) platform that focuses on privacy in the crypto space.<\/p>\n\n\n\n<p>Beam was launched in 2018 by&nbsp; Alexander Zaidelson, Alex Romanov, and Amir Aaronson. Zaidelson, who is the project CEO, started his career as a software developer, and founded the P2P file-sharing company, Nareos. Romanov, the CTO has handled large teams in several complex projects. While the COO, Aaronson has co-founded several technological companies. Since January 3rd, 2019, when the Beam mainnet went live, it has served the growing need for increased privacy in the crypto space.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_is_BEAM_Crypto\"><\/span>What is BEAM Crypto?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The BEAM Token is a privacy-oriented crypto asset that uses smart contracts for transactions and asset transfers. The use of Beam ensures a streamlined and immersive gaming experience. It uses two Blockchain protocols, LelantusMW and Mimblewimble, for the anonymity of transactions, address balances, and user identities.&nbsp;<\/p>\n\n\n\n<p>Beam\u2019s Blockchain is made from scratch using C++, which seeks privacy and confidentiality of user addresses at all times.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_Does_the_BEAM_Token_Work\"><\/span>How Does the BEAM Token Work?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Beam employs the Equihash <a href=\"https:\/\/zebpay.com\/au\/blog\/why-proof-of-work-works\" target=\"_blank\" rel=\"noreferrer noopener\">proof-of-work<\/a> algorithm, chosen for its ability to handle large amounts of data and transactions. Beam supports custom transactions of different types as escrow, atomic swaps, and time-locked ones. Mimblewimble protocol seeks to ensure all transactions on the network are confidential. Beam\u2019s Virtual Machine enables confidential dApps using WAASM execution, while Contract Shaders handles business logic and App Shaders manages presentation layers for easy wallet integration.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"BEAM_Crypto_Challenges_and_Concerns\"><\/span>BEAM Crypto: Challenges and Concerns<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Beam\u2019s unique features make it stand out among other crypto assets; its potential use cases range from medical industry to finance, gaming etc. But as of now, there are some challenges for Beam to overcome.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Complexity\"><\/span>Complexity<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Beam\u2019s use of Mimblewible and LelantusMW protocols makes it quite complex to understand and use. This can limit its adoption among the populace.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Centralization\"><\/span>Centralization<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Beam\u2019s <a href=\"https:\/\/zebpay.com\/au\/blog\/how-to-build-a-crypto-mining-rig\" target=\"_blank\" rel=\"noreferrer noopener\">crypto mining process<\/a> is dominated by a few large mining pools. There is a probability of centralization and potential security risks. This drawback can be used to manipulate the Blockchain.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Benefits_of_BEAM_Token\"><\/span>Benefits of BEAM Token<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>With their own Blockchain built from scratch along with stress over privacy and utility, Beam gives us several benefits. They are as follows-<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Enhanced_Privacy\"><\/span>Enhanced Privacy<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Beam\u2019s privacy features based on Mimblewimble protocol allow for confidential transactions without revealing the identities of sender, receiver, and transaction amount. Beam also uses Lelantus protocol which allows users to create and burn anonymous coins, further enhancing privacy.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Improved_Security\"><\/span>Improved Security<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Privacy and security go hand in hand. Beam is designed to be secure and resistant to potential attacks and hacks. One of its main security features is the Dandelion++ protocol, which enables the broadcasting of transactions while preventing the possibility of tracing the origin. Beam is also designed to be resistant to 51% attacks and double-spending attacks.<\/p>\n\n\n\n<p>Read more: <a href=\"https:\/\/zebpay.com\/au\/blog\/what-are-crypto-investment-scams\" target=\"_blank\" rel=\"noreferrer noopener\">What are Crypto Investment Scams<\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Scalability\"><\/span>Scalability<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Beam is built to be scalable, that is, it can make a large number of transactions without slowing down or increasing fees. The use of Beam Hash 3 algorithm allows for faster processing of transactions. This has allowed Beam to traverse into the gaming community.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Beam_SDK_Empowering_Game_Development\"><\/span>Beam SDK: Empowering Game Development<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>At the heart of Beam technology, there is a versatile software development kit that offers game developers a range of tools to incorporate Beam elements into their games effectively.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Merit_Circle_DAO_Governance\"><\/span>Merit Circle DAO Governance<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Beyond its utility as a gas token, $BEAM sits at the center of governance for the Merit Circle DAO Governance. $BEAM\u2019s multifaceted role in the Beam network allows it to advance both towards governance and gaming experience.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Future_of_BEAM_Crypto\"><\/span>Future of BEAM Crypto<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>With the scalability, flexibility, and security that Beam provides, let us try to understand its future.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Utility_in_Gaming\"><\/span>Utility in Gaming<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The gaming industry needs privacy, scalability, fast transactions as well a governance framework. These requirements fall in the scope of Beam pretty well. Its adoption in games is increasing and they are actively collaborating more. Looking at the present pace, we can look forward to its increased utility.<\/p>\n\n\n\n<p>Read more: <a href=\"https:\/\/zebpay.com\/au\/blog\/what-is-crypto-gaming\" target=\"_blank\" rel=\"noreferrer noopener\">What Is Crypto Gaming<\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Sustainability\"><\/span>Sustainability<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Beam, with its unique approach, congregates the two aspects, that is, scalability and security together. With its native blockchain built specifically with a unique vision, the utility seems to increase with time. It has grown both in market capitalization and market adaptation since its inception. Its growth towards gaming and evolution towards governance DAO shows its adaptability and capability.&nbsp;<\/p>\n\n\n\n<p>Read more: <a href=\"https:\/\/zebpay.com\/au\/blog\/how-is-blockchain-transforming-gaming\" target=\"_blank\" rel=\"noreferrer noopener\">Rise Of Blockchain Gaming<\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Other_Utilities\"><\/span>Other Utilities<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Beam has its native blockchain and protocols like Mimblewimble and LelantusMW provide privacy and security along with speed and scalability. Its unique approach to solving the blockchain trilemma makes it a potential token to be used in several other sectors like healthcare, etc. This opens a window and gives us a peek into the future of trustless digital transactions.<\/p>\n\n\n\n<p>If you found this blog to be useful, do share it with other like-minded crypto enthusiasts. Click on the button below to begin your crypto trading journey using ZebPay.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link has-white-color has-text-color has-link-color wp-element-button\" href=\"https:\/\/connect.zebpay.com\/account\/login?returnUrl=%2Fconnect%2Fauthorize%2Fcallback%3Fclient_id%3Deee7baaa-9d6c-43f1-9eb6-8174f62cd244%26redirect_uri%3Dhttps%253A%252F%252Fzebpay.com%252Fapp%26response_type%3Did_token%2520token%26scope%3Dopenid%2520profile%2520wallet%253Atransactions%253Aread%2520trade%253Aread%2520trade%253Acreate%2520wallet%253Aaddress%253Acreate%2520wallet%253Aaddress%253Aread%2520wallet%253Atransactions%253Asend%26state%3D8fb0e587116b4e15bdfbe3e9fe19c4b4%26nonce%3Db299aaab5b4b4af5a14c93629b0ca13b\" target=\"_blank\" rel=\"noreferrer noopener\">trade now<\/a><\/div>\n<\/div>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Introduction The Beam (BEAM) Token is the native crypto of a decentralized gaming network called Beam. The BEAM network allows gamers and developers to collaborate and engage themselves in immersive gaming experiences. It is a confidential decentralized finance (Defi) platform that focuses on privacy in the crypto space. Beam was launched in 2018 by&nbsp; Alexander [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":22107,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[14],"tags":[16],"class_list":["post-22101","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-crypto"],"acf":[],"_links":{"self":[{"href":"https:\/\/zebpay.com\/au\/wp-json\/wp\/v2\/posts\/22101","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/zebpay.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/zebpay.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/zebpay.com\/au\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/zebpay.com\/au\/wp-json\/wp\/v2\/comments?post=22101"}],"version-history":[{"count":1,"href":"https:\/\/zebpay.com\/au\/wp-json\/wp\/v2\/posts\/22101\/revisions"}],"predecessor-version":[{"id":22103,"href":"https:\/\/zebpay.com\/au\/wp-json\/wp\/v2\/posts\/22101\/revisions\/22103"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/zebpay.com\/au\/wp-json\/wp\/v2\/media\/22107"}],"wp:attachment":[{"href":"https:\/\/zebpay.com\/au\/wp-json\/wp\/v2\/media?parent=22101"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/zebpay.com\/au\/wp-json\/wp\/v2\/categories?post=22101"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/zebpay.com\/au\/wp-json\/wp\/v2\/tags?post=22101"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}