Beam 2022 Week #41 - Verifiable Private Monies (VPM)
Covering October 3rd 26th -October 9th 2022
Download Beam Wallet for: Android | iOS | Desktop | Web
Beam News!
With the Beam 7.2 release scheduled for this week, what better time to take a deep dive into all things Confidential Assets. As you know, the 7.2 release brings with it the Asset Swap feature, enabling users to trade Beam and Confidential Assets. If you tuned into the last weeks Beam Space, you will also know
Your Confidential Assets, why? how? and where?
Confidential Assets have all the fantastic privacy preserving properties of Beam itself, so are a great utility to use for swapping items or trading goods on marketplaces - nobody will know what you swapped for, or how much you spent.
Version 7.2 of the Beam desktop wallet includes the highly anticipated asset swaps function and this piece of the Beam ecosystem is designed for users, creators and hodlers of Beam and Beam’s CA’s (confidential assets). Swap any CA for any other CA, or post an offer to swap your CA for Beam directly in the Beam desktop wallet.
Typical use-cases of a CA can be simple loyalty tokens, like RAYS, a metaverse token to use in conjunction with a release of NFT’s like BeamBots, a token to play games with like TICOCOIN, a fan token for your favourite sports team like RFC - The Glasgow Rangers Fan Token, a commemorative token like CROWNS which was released to commemorate the 70-year reign of Queen Elizabeth II, or a verifiable store of value asset like the MimbleWimble Initiative - MWI. The possibilities truly are; endless!
Your chat group needs a confidential asset!
Design your own token on Beam using the simple to use ASSET HELPER at https://explorer.beam.mw/assets/create
Creation of a CA, costs only 10 BEAM - which is locked in the CA mechanism. A full guide on this, and how to create your own CA can be found here: https://www.raskul.com/creating-a-confidential-asset-on-beam/
It is highly recommended that you test your CA on Beam testnet, first.
Testnet how-to:
https://www.raskul.com/creating-a-ca-on-beam-testnet/.
Wherever you go in life, you are likely to partake in some form of group activity, be that your job of work, a hobby of sorts or at your preference of religious church.
Confidential Assets are a great tool to use to reward your friends, colleagues and flock!
Did we mention TICOCOIN?
https://ticotip.me to join in the fun!.
BeamX, the governance token for the Beam ecosystem, is also a Confidential Asset and shows just a few of the functions that you can create when you link your CA to a Shader contract. Build your CA, create a Shader contract, design a front-end Dapp and let the world know you are fully supportive of user privacy!
With BEAM, the possibilities are infinite!
Verified Checkmark on your Beam Confidential Asset.
Private Tokens on the Beam Privacy blockchain can be created by anyone with access to a command line interface. Raskul previously wrote a how-to on creating a confidential asset on Beam and this can be found here - https://www.raskul.com/creating-a-confidential-asset-on-beam/
So what is a verified checkmark and why do I need it on my CA?
A verified status on your CA gives users peace of mind, when they want to swap Beam or another asset to obtain some of your CA. This checkmark is designed to prove that the CA is valid on the chain and is unique - or is the main and actual asset with that name. Confidential Assets are created with an asset ID and this is a unique number specified by its own unique place in creation, on the Beam privacy blockchain.
To note, some important points:
CA verification doesn’t mean it’s a recommended asset, nor do we verify the emission or structure of the asset. Verification is only to show that we know the creator is who they are claiming to be, and that the CA cannot be burned. CA amount can be increased without notice by the creator at any time, unless the CA was created via a Shader contract with capped emission coded in.
How do I obtain a Confidential Asset verified checkmark?
To get verified (after the CA has been created) please provide all the asset info by email to: security@beam.mw or tag one of the admins on the telegram or discord main chat channels.
NEW CA MINTED!
Details of your CA
Issued amount pledge
Ticker and name etc
The creator of the asset will be requested to send 0.1 of the CA to have it verified and the verified checkmark applied.
Beam Space
The last Beam Space was a blast. We covered all things privacy in Web3, and spoke on what is to come in the (very) near future with Beam.
We will be taking a look at the ins and outs of the Nephrite Stablecoin. Join us to discuss how the Dapp will work, what the usecases are for Stablecoins, and why privacy matters!
Day: October 16th
Time: 18:00 UTC
Location: Beam Twitter Space
Set your reminders, and see you there!
A reminder that all Beam spaces are now being uploaded to Youtube for your listening pleasures! ❤️
Go Beamer Community!
Resist!
Manifesto!
Reputation!
