Beam is building a confidential DeFi ecosystem to enable decentralized apps (DAPPs) for a range of use-cases from governance and voting to financial instruments such as trading, lending and stablecoins. Let’s dive into what BeamX entails.
The DeFi space is growing rapidly, swelling to $45B (at the time of writing) in value locked in numerous protocols across various chains.
In its current state, the most common DeFi protocols severely lack privacy. Multiple projects are addressing the need and are seeing an expansion in their volumes and user bases. With opt-in auditability Beam aims to offer full privacy, without losing the ability to remain regulatorily compliant.
Let’s review the diagram layer-by-layer:
- The best-in-class privacy blockchain at its core
- The infrastructure layer consisting of Smart Contracts a.k.a. Shaders (see below for more information) and services such as Oracles and Decentralized Bridges
- Multiple governance and financial DAPPs such as Voting, DEX, Lending, Stablecoin and more
Meet the shaders, there are two types of them. Contract Shaders are for making changes to the blockchain state. Whilst App Shaders can query any information, read the state of all deployed contracts, and prompt users to execute transactions. In more detail:
- Implements the contract logic
- Strict complexity limitations
- Can only access its custom variables (not those of other contracts)
- Executed by the BVM in an isolated environment, to ensure bugs or malicious behavior do not affect the blockchain integrity
- Constraints and limitations in place, for example, max number of signatures to check, max length of the variable to store etc.
- Provides an interface for specific contracts
- No strict complexity limitations
- Read any blockchain information
- No limitations regarding repeatability
Beam governance is transitioning from Beam Foundation to BeamX DAO. BeamX, the dedicated governance token, will be issued and distributed as a Confidential Asset on the Beam blockchain to oversee and empower the BeamX DAO.
BeamX will be issued as a Confidential Asset on the Beam blockchain, with a total supply of 100M. The governance token will initially be supported via the Beam wallet and distributed via staking Beam.
The Beam confidential DeFi ecosystem will enable decentralized apps (DAPPS) for a range of use-cases. The latest 6.0 release can be downloaded soon to bring you up to speed with the coming hard fork. Expect to see the first proof of concept DAPPs live after the hard fork, with DAO governance and staking soon after.
Come discover Beam and join our community!
QQ Beam 中国官方社区: https://jq.qq.com/?_wv=1027&k=5Mbs8N4
Co-authored with Angus Sullivan