Altonomy to Provide OTC Trading Services and Liquidity for Beam

Altonomy
Altonomy
Jan 11 · 3 min read

Altonomy is proud to announce that it is offering OTC services for Beam, a new Mimblewimble-based Privacy Coin. Altonomy will provide OTC trading services and liquidity for all Beam users. As applause for Beam’s recent and successful mainnet launch, Altonomy is the first sales and trading desk to add Beam/BTC, Beam/ETH and Beam/USD/USDT to its trading pairs.

In order for Beam to achieve mass adoption, miners and users of the Beam coin must be able to convert it to other assets, otherwise its use as a means of payment will be inefficient. Altonomy will utilize its global OTC network to assist participants in the Beam network source liquidity to achieve mass adoption and overcome the challenges miners and Beam users face with pricing and converting Beam by solely relying on the natural flow in the market.

Beam is the first to implement the Mimblewimble protocol, which was first introduced by an anonymous user “Tom Elvis Jedusor” and uses confidential transactions by Bitcoin developer Adam Back and the CoinJoin concept by Gregory Maxwell. With the above specifications and crypto innovations combined, Mimblewimble is able to achieve true privacy in simple payment by avoiding current address-based systems (like Bitcoin and Ethereum) and use bilateral communication between senders and receivers to create transactions.

Thus far, the Mimblewimble protocol has received a lot of praise from the blockchain community as privacy concerns and solutions have been a focal point of discussion. Current systems including Bitcoin, Zcash and Monero, still have transactional data recorded on public chain, while Mimblewimble uses CoinJoin design to hide all the transactional details and retain only the verification proof on chain.

Bear markets often help foster true innovation. We are currently reliving the 2015 birth of Ethereum and 2019 is shaping up to be a year of innovation. The blockchain industry will embrace technology advances and important business applications, and attract investment for future growth that will eventually be reflected in the market price. Altonomy believes in true innovation. Beam’s successful implementation and mainnet launch are the first step to carry forward the torch towards empowering people with highly secure privacy. We are also looking forward to the second implementation of Minblewimble protocol, Grin, which will be published in less than ten days to the world. Altonomy will extend its OTC trading services to include Grin soon.

For business inquiries please send an email to OTC@altonomy.com with your name/company, requested amount and expected price.

About Altonomy
Altonomy is a cryptocurrency trading, advisory and asset management firm. The company is the first dedicated sell-side trading desk that provides institutional-grade OTC trading, advisory and asset management services for the crypto market. Altonomy OTC desk delivers best in class services with extended coverage for illiquid tokens. With deep connections in both crypto space and traditional financial world, Altonomy possess exclusive access to trade information globally, such as miners in China, hedge funds on Wall Street and family offices in Europe.

Altonomy

Written by

Altonomy

Based in New York and Singapore, Altonomy is a world’s leading trading and asset management firm in crypto space.

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