Beam 2020 Week #29 - Beam4Me

Covering July 12th - July 19th 2020

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Beam News

A busy week for Beam on all fronts. One of the highlights came from community contributor Vsnation, in the form of Beam4Me. This opens the doors for users wishing to utilise Beams privacy, along with the merchant adoption of Bitcoin. Users can easily send their Beam to Beam4Me, and have the value in BTC send to the merchant for their purchases. This is a great addition to the Beam ecosystem, and will no doubt see added traction with Beams usage as a means of payment.

On another front, Beam faced a foe in the form of a reorg attacker. It came to our attention due to some irregular network activity taking place. Prior to the Hardfork, exchanges were advised to increase the number of block confirmations on their deposits, along with a mechanism that prevents reorgs deeper than 60 blocks being automatically accepted, in order to help mitigate such attacks being successful.

Unfortunately, some of the exchanges did not implement the changes to confirmations at the time of first contact, and it seems that an attack was successful. After this came to our attention, the effected exchanges were swiftly contacted, brought up to speed with the situation, and managed to prevent further damage being done.

You can read over the full breakdown of events, and more details on how things unfolded here.

The team continues to monitor the situation, in the best interests of the Beam networks stability.

Research & Development 

The Testnet release for the Beam Web Wallet and Chrome Extension is here. It is currently in early Beta, with development ongoing before Mainnet release. If you are keen to test it out, grab some Testnet Beam from the faucet, or jump into the chat and someone will send some your way.

The Web Wallet, is a close counterpart to the Wallet Service, which will play an integral part in 3rd party multi-coin wallets adding Beam to their mix.

Now is the time to put Beam on your favourite wallets radar!

This will be a big focus for the team, as the mainnet Web Wallet and Wallet Service is rolled out to mainnet.

The development team has been looking closely at how best to implement more complex logic to allow for further DeFi applications on Beam. Extending the idea of scriptless scripts, taking them a step further, and allowing for such things as liquidity and lending pools, and other such use-cases that come with them. Some exciting developments have been made on this front, and we can expect to hear more on this, along with an in-depth look at DeFi on top of Beam in the coming week.


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

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