Bitcoin was a great blessing, showing people a way to a truly decentralized and deflationary currency and blazing the path towards a future where our money and finances are neither controlled nor scrutinized by anyone. Hundreds of new coins appeared, some of them minor variations of Bitcoin, some offering new possibilities.
However, the fact that transactions on Bitcoin and many of its derivatives are not confidential (all transaction history is stored in a public ledger accessible to anyone), makes cryptocurrency use in real life quite problematic. Can anyone think of a business that would want all its income and expenses to be seen by its competitors?
Privacy coins (like Monero, Zcash and their derivatives) have great merits and technology while providing good confidentiality, but do not fully deliver on scalability and decentralization. Another important quality is auditability - with Monero or Zcash it is impossible to demonstrate a provable transaction graph to an external auditor, which is often needed for businesses.
The ideas behind Mimblewimble protocol allow for creation of a coin that is confidential, scalable and optionally auditable.
We believe that the Beam coin will serve as a truly usable confidential store of value, with an addition of second-layer solutions like Lightning to allow for day-to-day usage.
We believe that rapid innovation is best achieved in a startup model, where people are 100% focused on the project and are working on it literally 24/7. Also, we feel that some of the technical decisions made by the Grin team are less practical and use more “cutting-edge” technology. Since we are literally building money, we chose a more conservative approach and decided to use more proven technologies instead - that’s why we chose C++ and not Rust, Equihash and not Cuckoo Cycle, etc. That said, we have immense respect for the Grin team and wish them success. We are all working towards the same goal - bringing financial privacy back to people and making cryptocurrency more usable in real-world applications.
El mundo cripto ofrece varias monedas de privacidad, pero ¿cuáles son las principales diferencias entre ellas en comparación con Beam? [Aquí vamos.] (http://www.medium.com/beam-mw/whats-the-difference-between-monero-zcash-and-beam-953eafd89354)
Technology Here’s a brief comparison of the technologies used by both projects:
- Programming Language
- Beam: C++
- Grin: Rust
- Mining Algorithm:
- Beam: Modified Equihash
- Grin: Cuckatoo32+, plus Cuckaroo29
Beam uses a capped emission model of about 263 million total coins (see “What’s Beam Emission Schedule”). Grin uses a constant emission of 1 grin per second (60 per 1-minute block).
While both projects are adding functionality all the time, the known feature list planned for launch is as follows:
- Desktop Wallet
- Mobile Wallet
- Interactive Transactions (both wallets online)
- Beam: Yes
- Grin: Yes
- Non-interactive transactions (wallets don’t have to be online at the same time)
- Beam: Yes, transparently from the Wallet, using Secure BBS
- Grin: Yes, using email or similar
- Transaction Graph Obfuscation
- Atomic Swaps
- Beam: Bitcoin <> BEAM, Litecoin <> BEAM, Qtum <> BEAM
- Grin: Ethereum <> Grin
- Beam: Opt-in, see “What is Auditability”
- Grin: None
- Beam: Available - possibility to issue additional tokens on Beam blockchain
- Grin: Not yet
Beam runs as a classical startup. We raised money from investors and pay salaries. In the future, Beam plans to pass governance of the protocol to a Beam Foundation (see “What is Beam Foundation”). Grin is a 100% volunteer project fueled by community enthusiasm and occasional donations, supporting one paid developer. For the first two years, Grin will be governed by the core development team with input from the community.
- La recompensa del primer año es de 80 monedas por bloque.
- Años 2,3,4 y 5 - 40 monedas por bloque.
- En los años 6-9 la recompensa de bloque es de 25 monedas.
- Después, se reduce a la mitad cada cuatro años hasta el año 133, cuando se detiene la emisión.
En los primeros cinco años de existencia de Beam, se emitirán monedas adicionales a [Treasury] (/faq /what-is-your-finance-model-what-is-the-treasury):
- Primer año: 20 monedas por bloque.
- Años 2,3,4 y 5 - 10 monedas por bloque.
Se puede ver que nuestro programa de emisiones se basa en el modelo de Bitcoin, la principal diferencia es una mayor recompensa de bloque durante el primer año. El razonamiento para la recompensa del bloque más alto en el primer año es asegurarse de que los mineros tengan un gran interés en la minería Beam a principios de su existencia y ayudar a introducir la moneda Beam en el mercado.
Se puede encontrar una información más detallada sobre el programa de emisiones de Beam [here] (https://medium.com/beam-mw/mimblewimble-emission-schedule-215551948259)
Instamos a nuestra comunidad a tener mucho cuidado y no caer en intentos de estafa.
For more details, read this in-depth article about our Equihash implementation.
Last update: August 19th, 2019
Beam has put together a remarkable team of first-class engineers and entrepreneurs, and a strong advisory board comprised of accomplished cryptocurrency veterans. We have 8 full-time developers, a marketing team and seasoned management. Beam CEO is Alexander Zaidelson, an experienced entrepreneur, executive and VC investor, the engineering team is led by CTO Alex Romanov (over 15 years experience running complex R&D projects in numerous industries), the operations are run by COO Amir Aaronson, experienced entrepreneur and executive, and marketing is under the lead of CMO Beni Issembert, an entrepreneur with more than 15 years of experience in the Corporate and Performance marketing.
Our Product Management is done by Sasha Abramovich, a top-notch Product Owner with solid technical background, ex-Agora, AppsFlyer, Natural Intelligence and more. The list of advisors includes people like Guy Corem, Bryan Bishop, Gordon Chen, Rami Kasterstein, Ferdous Bhai, Liraz Siri and Addison Huegel. Check out our Team Page for details. We are actively building a global community of developers who share our mission of creating a private digital currency and will maintain and improve Beam.