Beam 2020 Week #22 - Eager Electron Release

Covering May15th - May 31st 2020

Downloads: Beam Android Wallet | Beam iOS Wallet | Beam Desktop Wallet

Beam News

An absolutely huge week for Beam, with the much anticipated release of Eager Electron 5.0 for desktop. This release is compatible with the upcoming Hard Fork, expected around the 28th of June, so we would encourage you to upgrade now in anticipation. The fork compatible mobile wallet will be released in the near future. The Hard Fork is introducing some massive upgrades, to set Beam up for domination as the confidential DeFi ecosystem we all deserve. If you haven’t caught up with the incoming upgrades, check them out in the Hard Fork announcement, and the earlier newsletter. The three major features incoming are: Lelantus Mimblewimble, for breaking linkability, Non-interactive transactions, for Bitcoinesque push transactions, and of course Confidential Assets, for Beam based asset issuance.

Confidential Assets

Last weeks newsletter touched on Confidential Assets and what they mean for Beam. An important question was also raised regarding their issuance; namely, the amount of Beam to lock for creation.

The locked Beam will only be redeemable after all of the Confidential Asset has been burned by the creator. For this to happen, they must own all of that particular Confidential Asset.

Both sides of the lock amount came with their own tradeoffs. A lower locked amount would mean the barrier to entry for creating Confidential Assets was lower. A higher locked amount would prevent the network being spammed with useless assets.

Let’s have a quick look at the survey findings

The community stepped up and had some great insights into the pros and cons, some different potential solutions, and their feelings on the locked amount of Beam for Confidential Asset issuance.

The community spoke, and the figure has been set. As you can see above, the majority of votes were for 1000, with 5000 not far behind, and the weighted average being 3143. With the data in tow, we decided to use the wisdom of the crowd, and go with the weighted average, and set the lock amount at 3000 BEAM!

Full survey details and outcome


Excitement is already building for Confidential Assets launch on mainnet, with testnet seeing some action with ECO from Niran, and a great guide on CA issuance from Raskul!

Confidential Assets are currently supported in the Eager Electron 5.0 release, but will only be supported at the protocol level after the Hard Fork. They will be integrated into the GUI wallet in EE 5.1

Research, Development, and Product

The development team still hard at it, with the Eager Electron 5.0 release the last week. With the majority of the 5.0 work behind them, they are shifting focus to the 5.1 release that will integrate Lelantus Mimblewimble, Confidential Assets, and Non-interactive transactions into the GUI wallet.

  • Research continues on the DeFi front, to identify the most important needs for outside developers, with a tool kit for Beam building in the works

  • Beam GitHub has seen some changes, with the compartmentalisation of the wallet to enable more efficient and effective delivery, and improve the experience for outside contributions.

  • The team will increase dev resources to help outside developers with integration and building on top of Beam

  • Work on Atomic Swap optimisations are taking place, to improve both the execution and user experience for the swaps.

  • Web Wallet release for testnet coming very soon

  • Mobile Wallet release for the fork will be released in the coming weeks

Press

Sign up, stay tuned, and see you all next week!


Got news or articles to include in these newsletters? Any feedback? Any suggestion?

Drop us a line on marketing@beam.mw or follow us on Twitter.

Beam 2020 Week #21 - Confidential Assets

Covering May18th - May 24th 2020

Downloads: Beam Android Wallet | Beam iOS Wallet | Beam Desktop Wallet

Beam News

The Beam Hard Fork is fast approaching, with releases for both Testnet and Mainnet around the corner. So what better time to take a look at one of the key features that will come into play after the fork, and gain some valuable feedback from our great community. One of the greatly anticipated upgrades is confidential assets, so let’s dive in.

Confidential Assets

Confidential Assets (CA) will extend Beam and allow trading of additional kinds of assets on the Beam blockchain with the same scalability and confidentiality of the Mimblewimble protocol.

Anyone will be able to issue their own CA, for a variety of different use cases. They can create Confidential Synthetics (commodities like gold, stable coins, and digital assets such as shares, stocks, and bonds, etc.), Confidential Wrapped Assets (BTC, ETH, etc.), and Community Coins/Tokens.

The CAs will benefit from the same incredible usability, privacy and scalability that we see with Beam. Essentially being first class citizens in the wallets. Users will enjoy the ability to atomically swap Beam Confidential Assets for Beam, Bitcoin, and other supported currencies. This opens the doors to start trading newly minted CA in a trustless, secure and decentralised manner, without relying on centralised exchange listings.

Beam CA will also inherit the other wicked features of Beam, including the ability to unlink and send using one sided payments thanks to Lelantus, and create Laser Beam payment channels for instant transactions. This will all be seamlessly integrated into the wallet, keeping the same usability we have come to love.

Confidential Assets are an integral building block, laying the foundations for the Beam Confidential DeFi Infrastructure being built out. Something we’re incredibly excited to see coming to fruition so fast!

Confidential assets will be minted in a permissionless manner, and distributed as per the issuers choosing. Due to the nature of blockchains, this of course does not come without some tradeoffs. CA bring with them some incredible use cases, but also present the possibility of the chain being spammed with thousands of useless assets.

The Question

To avoid the issue of spam, an amount of Beam needs to be locked during the creation process. This is where you come in!

We need the valuable feedback from our awesome community, in deciding how many Beams should be locked, in order to create a confidential asset. 

Tell us what you think here!

Research, Development, and Product

Some more insight into the upcoming wallet release including Lelantus send and receive screens. Lelantus will increase Beams already phenomenal privacy, by massively increasing the anonymity set, breaking linkability, and making reconstructing a transaction graph near impossible.

The last month saw Beam in the top 5 most active Github Repositories. With 67 commits in the last week alone, only on the master branch, things are really heating up in anticipation of the upcoming Hard Fork.

Development is at full steam, with the testnet release for the fork coming soon, followed closely by the mainnet release.

If you’re not up to date with the Hard Fork, check out the announcement for all you need to know.

Press

Sign up, stay tuned, and see you all next week!


Got news or articles to include in these newsletters? Any feedback? Any suggestion?

Drop us a line on marketing@beam.mw or follow us on Twitter.

Beam 2020 Week #20 - BeamHash III

Covering May11th - May 17th 2020

Downloads: Beam Android Wallet | Beam iOS Wallet | Beam Desktop Wallet

Beam News

A wicked week with Wilke Trei bringing us up to speed on BeamHash III. Wilke, Beam PoW advisor and Beam Foundation board member, gives us an overview of where BeamHash III sits in the overall mining landscape, and what improvements the new algo brings with it.

BeamHash III

As you may know, BeamHash III will be the final PoW algorithm for Beam. Prior to launch, two Hard Forks were announced with the intention of changing the PoW algorithm. This was done to allow for GPU miners to have a head start mining, when the rewards are at their highest, and also to give time to create an optimal algo for the network to mine on into the future. Be sure to checkout Wilke’s video presentation on BeamHash III, the presentation slides, and the technical specification for all the details. Here we will take a look at a few key components, and what they mean for Beam.

The Final Algo

BeamHash III will be the final PoW algo that Beam settles on. This has a number of key benefits for the network, miners, and users. For the network, it brings with it stability. Rather than chopping and changing algo every six months, this opens the door for more in-depth development and investment into both software and hardware relating to Beam mining. On the user front, this means they can have more confidence in the usability of Beam, without the worry of updating, although we will make sure it’s worth it.

GPU Mining

As a PoW coin, Beam has always pushed for a strong community of GPU miners. Their strength is not just in their sol/s, but the endless positive impact they have on the network and community alike. BeamHash III is no different. Like the two Hard Forks, the new PoW algo was designed for them to be an ever important part of the network and community moving forward.

Efficacy

BeamHash III is of course an upgrade from I and II, and the vanilla Equihash on which the original was based. The goal was to create a PoW algo that can see Beam to a successful future, and we feel that the focus on stability, GPU mining community, and users, will see this coming to fruition. Wilke has also put efforts into making the algo more efficient for the miners supporting the network. This will be determined after the algo change, but so far things are looking good!

Ask Away

We want to hear all of your questions regarding BeamHash III. We have opened a form to submit questions, and will host a Q&A to address these in the coming weeks.
You can throw your questions into the form here.

Research, Development, and Product

A special sneak peak into the future look and feel of Beam wallets!

And more!

This shows one of the incredible new features that will come with the Hard Fork, and later be seamlessly integrated to the wallets, Lelantus MW!

Lelantus adds to Beam’s already stellar privacy, enabling users to break the linkability of their UTXOs, and giving them extra protections when absolutely necessary. An enormous upgrade is coming for Beam, and this is but a part of it.

Be sure to follow Sasha for more Beam product previews!

Development and testing for the upcoming Hard Fork is steaming ahead, with huge amounts of work taking place on Atomic Swaps, Confidential Assets, and of course Lelantus.

Press

Sign up, stay tuned, and see you all next week!


Got news or articles to include in the newsletters? Any feedback? Any suggestions?

Drop us a line at marketing@beam.mw or follow us on Twitter.

Beam 2020 Week #19 - Spend It

Covering May 4th - May 10th 2020

Downloads: Beam Android Wallet | Beam iOS Wallet | Beam Desktop Wallet

Beam News

A big week for our big brother Bitcoin, with the lead up to its third halving. The halving will take place tonight, with many events surrounding it presenting a great excuse to celebrate the successes so far. The halving is an important, and arguably one of the most interesting, aspects of Bitcoins emission. As you all know, Beams emission schedule is based off of Bitcoins, so it is an event that we are all following closely, and excited for.

The halving is often attributed to Bitcoins success, but one thing that get’s less attention, yet is a key factor, is Bitcoins acceptance by merchants. So I thought it would be a great chance to take a look at how Beam is doing on this front.

Beam Accepted here!

From the get go, Beam being accepted as payment by merchants has been something the team has seen as a key for both users, and the network. After all, what good is a privacy coin if it cannot be spent?

So let’s take a look at who’s accepting Beam, how they are accepting it, and how we can use Beam as a means of exchange.

Who’s accepting Beam?

A great question, and before sharing some examples, i’ll share the source of them. There are a couple of great ways to keep up to date with who is accepting Beam. The first of which was recently launched by Beam Ambassador Daniel, with the Pay in BEAM Twitter account. This adds to his already extensive efforts, and is a great initiative keeping the community up to date with who’s accepting Beam, and promotes Beam acceptance and adoption. The second, Cryptwerk, gives a list of merchants accepting Beam, with ratings, and a brief overview on the vendors. You can also jump over to the Beam Accepted Here page on site. This is an exhaustive list of merchants that are accepting Beam, and is updated on a regular basis.

Some highlights:

How to accept Beam:

  • Beam Pay - A Beam specific payment processor that allows integration with online stores to automatically manage all your transactions. Beampay is already integrated and on display at https://store.beamprivacy.community/.

  • Coinpayments - Integrated payment gateway for cryptocurrencies from Beam to Bitcoin and beyond

The great Vsnation is working on more initiatives to drive adoption, with plugins for the most popular online merchant platforms on their way.

How to spend Beam:

A picture is worth a thousand words, so a video from Raskul is worth far more. Check it out to see how easy Beam is to be used as a means of payment.

This is just a taste of what’s to come, and remember, if you have any merchants looking to add Beam, let us know, and we can assist in making it happen!

Press

R&D Updates

Development and testing for the upcoming fork is progressing nicely, with the fork expected around the 28th of June. For more details, hit up the announcement, and eye up all the exciting updates that come with it.

Sign up, stay tuned, and see you all next week!


Got news or articles to include in the newsletters? Any feedback? Any suggestions?

Drop us a line at marketing@beam.mw or follow us on Twitter.

Beam 2020 Week #18 - The Network

Covering April 27th - May 3rd 2020

Downloads: Beam Android Wallet | Beam iOS Wallet | Beam Desktop Wallet

Beam News

An exciting week for the Beam community, wrapping up the eventful month of March, which brought with it the release of Double Doppler 4.2, and the Hard Fork announcement. On the community front, we saw some great initiatives taking shape from Beam Africa, driving users to the Beam mobile wallet, educating them on how it works, and bringing in ever valuable feedback. All important drivers of growth for Beam, and something we will see a lot more of in the coming months. After all, the more Beamers the better!

Bots Alive!

The Discord community got a nice surprise with the greatly anticipated addition of the tip bot. After making her way over to the Beam server, tips have been flying and red envelopes dropping, and she is eyeing up where to head next!

Head on over to Discord and check it out!

The Beam Butler brings us:

  • Easy to send and receive tips. Get in the chat, get active and get tipped

  • Red Envelopes to share some of your love, and Beams, with the community

  • Real time charts and info on price, pools, and blocks

  • FAQs for everything Beam

All this, and more to come, so see you there!

The Network

We are all important nodes in the Beam network, both figuratively and literally. So let’s take a look at what’s being done on the network side, and what we can do to add to it!

One of the most important parts of the Beam ecosystem is connectivity. Without the ability to get your wallet connected to the Beam network, there would be no network! In recognition of this essential link, Raskul continues to set up a series of dedicated nodes around the globe. These are always online peers to allow for both remote connectivity to a node, and to help us get up to sync with our own nodes. You can find the list of perpetually connected peers here.

Following the peer list is a great guide to setting up your own node on a VPS. Running your own node, wether on your local machine or on the cloud, is a great way to both support the network, and increase your privacy. So let’s look at how we can do just that!

Node resources:

If you don’t yet have your own node up and running, time to get to it!

Press

R&D Updates

Development progress and testing for the upcoming fork is well underway, and the current focus for R&D. There are some absolutely huge consensus upgrades coming with it, so if you haven’t already, take a look at what it brings with it in the announcement, and last weeks newsletter.

Sign up, stay tuned, and see you all next week!


Got news or articles to include in the newsletters? Any feedback? Any suggestions?

Drop us a line at marketing@beam.mw or follow us on Twitter.

Loading more posts…