Beam 2021 Week #34 - A Bridge to Privacy

Covering August 23rd - August 29th 2021

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Beam News

A big week for Beam with the 6.1 release dropping to much avail! A wicked update with many an important feature and improvement. If you haven’t already jump over to the Beam site to download now, and to check out what is new, check out Welcome to Beam Wallet 6.1! Here’s what’s new!

6.1 Highlights

  • Censorship Resistant DAPPs:
    Beamers can now download and install any DAPP from any source enabling a truly decentralized and censorship-resistant DeFi environment

  • Simpler Onboarding:
    Users can easily download the Beam wallet, blitz through the set-up, and receive test amounts of BEAM from the faucet DAPP

  • Configure Transaction Status Confirmation:
    Beamers can now customise the number of confirmations for transaction status confirmation

  • Balances:
    For those that wish they can now see the $ETH denominated balances of their wallet

  • Bugs:
    Squashed squashed and more squashed

Beam <-> Ethereum

This week we will take a closer look at one of the parts pertinent to the success of the Beam Confidential DeFi Ecosystem: The bridge from Ethereum to Beam.

The bridge will play a key role for a number of reasons:

  • Bridging liquidity
    The bridge will allow an ease of moving from Ethereum to Beam in order to provide liquidity in the Beam ecosystem. With the upcoming launch of the numerous Beam DeFi Dapps, this will boost the amount of liquidity in the system, with those providing the liquidity potentially being rewarded for doing so (both via fees and $BEAMX)

  • Opens the door for privacy
    This allows users on the Ethereum chain to use their assets to trade, lend, borrow, and stake, all with the built in privacy of the Beam blockchain!

  • A decentralised entrance
    The Beam bridges focus on decentralisation and being trustless is crucial in allowing for individuals to enter and exit the system as they please, without the need to rely on others and the ticks in boxes they may ask for

The Beam bridges have been designed with this unstoppable nature as its core structure.

Check out how they operate in this rundown from Romanov:

State of Confidential DeFi

Another great update from Romanov, with a great overview of the Beam bridges, along with many others gems from the Research and Development front! In the latest update, Alex takes us through:

  • Decentralising Dapps, now with the ability to locally run Dapps, and later with decentralised dapp distribution mechanisms built into the Beam wallet

  • Improvements on the wallet library, with extensions to support Beam Dapps

  • Mobile 6.1 release coming soon with Confidential Asset support, with Dapp support coming in 6.2

  • Beam Web Wallet expected around “One month to one month and a half”, making Beam more accessible to the masses and making it even easier to become a Beamer

  • Bridge architecture and demo, giving an overview of how it will look from the user perspective; acting much like the deposit process to an exchange

  • BeamX Dao core contracts under audit with the launch date to be announced. This will allow $BEAMX to operate as the governance token for the Beam Confidential DeFi ecosystem starting from the second phase

  • Beam Token Standard will specify the Beam confidential asset token standards for both fungible and non fungible assets, with the first proposal coming soon to the Beam Forum


Raise your metadata

Stop decentralise and listen

A ton in 6.1

That is all for this week, but be sure to sign up, and stay tuned for all things Beam!