Beam Hard Fork Completed

As announced earlier, Beam has successfully completed its fourth Hard Fork.

The Hard Fork completed at a block height of 1,820,000 integrates Beam blockchain with an IPFS storage; enables hi-frequency transactions (HFTX) and, introduces the decentralized DApp store. No consensus was changed.

As is tradition, the Beam Team was live and on stand-by at the time of the fork monitoring network health and prepared for any contingencies.

While the Fork went very smoothly, it was a moment of suspense when block 1,820,000 was mined; the Beam Team eagerly awaited the post-fork block 1,820,001 to appear. When it happened, it was a moment of joy and pride for the team.

Before

After

Aftermath

After the Hard Fork, the difficulty so far has remained fairly stable, with Leafpool finding block 1,820,001.

Why did we do the Fork

In previous hard forks, the team activated support for confidential assets and Shaders (smart contracts), greatly increasing the types and utility of projects that build on Beam. These include non-fungible tokens (NFTs), play-to-earn games (P2E), derivatives, tokenization etc. Integrating with an IPFS storage allows Beam to store data efficiently in a decentralized manner reducing blockchain bloat.

Hi-frequency transactions (HFTX) improve resistance to the front-running problem by creating a strict inclusion rule for transactions. HFTX ensures that transactions will seek to be included in a specified block and at a given specified position, or not included at all. HFTX gives pseudo confirmations before the transaction is included in the block, and can protect users from unwanted outcomes.

What else is in this Hard Fork

The amount of $BEAM required to mint a new confidential asset has been adjusted to 10 $BEAM as per the outcome of Beam Improvement Proposal 1 (BIP1).

Acknowledgements:

We would like to thank our wonderful community, the miners, the pools and the exchanges who worked diligently to perform the necessary software upgrades and help us pass the Hard Fork with flying colours.

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