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Beam: Double Doppler 4.1.6978, Upcoming Halving, A Paper On Confidential Assets On Mimblewimble, New Listings

Biweekly update 6th December — 20th December

The last Beam update in 2019 is here! Let’s briefly recall what was going on during the previous two weeks. The stable development continued with the release of Double Doppler 4.1.6978 that introduced significant usability improvements for Atomic Swaps for BTC, LTC, and QTUM. Over 70 tasks were accomplished in total. Transaction status messages became more informative in some cases, so you’ll know what is going on and what to expect for the next step. Atomic swap offers expiration times became much shorter to align with the general market dynamics. Node connection indicator (for BTC, LTC, and QTUM) now provides detailed information on connectivity issues. All in all, they have 219 open issues and 40 commits in /Beam, 42 open issues in /android-wallet, and 13 open issues in /ios-wallet.

The expansion and social activity remained vivid. African Ambassadors Agbona and Niran ⁦represented ⁦Beam at the Art of Technology event held in Lagos, Nigeria. Furthermore, Beam Lead Dev Valdok has co-signed “Confidential Assets on Mimblewimble,” an academic paper in collaboration with Qtum Chain Foundation and Peking University. Besides, Beam had a friendly welcome by CryptoIndia during the AMA. Several articles were published on Beam halving that will happen on 4th January and slash the block reward from 100 to 50 coins. CryptoDaily Official posted a video on crypto’s future, the dichotomy of privacy coins, and transparency. You can also read a story by Nederob approaching that “Even privacy coins can reveal your crypto secrets.” By the way, fresh platform listings appeared, including Bitit, Bitfare, and ChangeNOW. Some new shops and services that accept Beam as a Payment Method were added to the list to let you know where it is possible to buy stuff and services when financial privacy is guaranteed. Last but not least, the community keeps growing; the number of subscribers in social networks increased over the period. Beam into 2020, Beam with Paradigm.

Development

BEAM GitHub metrics
Developer activity (from BEAM Coinlib.io)

{General}

  1. This release introduces significant usability improvements for Atomic Swaps for BTC, LTC, and QTUM — Release notes

{Features}

  1. [desktop wallet] Connecting to random electrum node (for BTC, LTC, and QTUM) is supported, now you can start playing with Atomic Swaps in a nearly-seamless way.
  2. [desktop wallet] One step closer to business users: transaction history can be exported to a nice CSV for accounting and bookkeeping.

{Improvements}

  1. [desktop wallet] The estimated transaction fee is displayed for the BTC/LTC/QTUM receiving side.
  2. [desktop wallet] Node connection indicator (for BTC, LTC, and QTUM) provides detailed information on connectivity issues.
  3. [desktop wallet] The wallet will display a lock icon near “online” status when the connected node is trusted (ie set up with the wallet’s owner key)
  4. [desktop wallet] Reworked filters on Atomic Swap screen: you’ll click less to get any desired slice of information
  5. [desktop wallet] Owner key is securely shown in settings
  6. [desktop wallet] Transaction status messages became more informative in some cases, so you’ll know what is going on and what to expect for the next step
  7. [desktop wallet] Settings screen looks nicer
  8. [desktop wallet] Atomic swap offers expiration times became much shorter to align with the general market dynamics

{Fixes}

  1. [desktop wallet] A graceful error message is returned now when a user tries to connect to an Electrum wallet with Segwit seed phrase
  2. [cli wallet] Regular and swap transaction statuses are displayed correctly
  3. [desktop wallet] The wallet starts much faster now thanks to more effective node database processing
  4. [desktop wallet] Exchange rate is always displayed as BEAM to BTC, LTC, QTUM for Atomic Swaps
  5. [desktop wallet] If the Electrum node is disconnected during active transactions, the alternative node address can be submitted in Settings

Over 70 tasks accomplished in total, for more details please see here

{Points to mention}

In case a mobile wallet is connected to a random node and the user has both mobile and desktop wallets that are using the same seed phrase, the funds sent to the desktop wallet won’t appear on the mobile wallet. If the desktop wallet is running a local node, it will see funds sent to both wallets. The reason is that the local node (integrated into the desktop wallet) always monitors the blockchain for UTXOs related to the seed of the wallet. The mobile wallet does not run a local node and thus can only monitor transactions sent to its specific SBBS addresses. Of course, no funds will be lost in any event

  1. Hotfix — Double Doppler 4.0.6818 — Release notes
  2. Double Doppler 4.0.6814 — Release notes
  3. They have 230 open issues in /beam, 41 open issues in /android-wallet, and 18 open issues in /ios-wallet
  4. They had 12 commits in /beam.
  1. Double Doppler 4.1. — Great progress
  2. They have 219 open issues in /beam, 42 open issues in /android-wallet, and 13 open issues in /ios-wallet
  3. They had 40 commits in /beam

Social encounters

  • African Ambassadors Agbona Igwemoh and Niran ⁦represent ⁦Beam at the Art of Technology event held in Lagos, Nigeria.
  • An article by Bitcoin.Com on the previously mentioned update — Beam to Halve Inflation Next Year. On January 4, Beam will experience a halving that will slash the block reward from 100 to 50 coins. Beam and Grin were both designed with aggressive release schedules for their first year, in a bid to accelerate the big bang that characterized Bitcoin’s release. After Beam’s first halving has occurred on Jan 4, the next event won’t be due for another four years. The total supply for beam is set to ultimately reach 262,800,000.

You can also read about it in Crypto Mining Blog.

  1. Crypto 2020: Technology Trends Next Year and Beyond | a story by Cryptonews
  2. Beam launches its Atomic Swaps Marketplace | a story by The Paypers
  3. Beta version of Beam’s atomic swap marketplace now live | a story by CryptoNinjas
  4. Some Uses for the Beam Privacy cryptocurrency | a video by Agbona
  1. Beam Lead Dev Valdok has co-signed “Confidential Assets on Mimblewimble”, an academic paper in collaboration with Qtum Chain Foundation and Peking University.
  2. Beam had a very warm welcome by CryptoIndia during the AMA. The recap is available via the link.
  3. Crypto’s Future And The Dichotomy Of Privacy Coins And Transparency | a video by CryptoDaily Official
  4. Even privacy coins can reveal your crypto secrets | a story by Nederob
  5. Here’s what could happen if Bitcoin ran Mimblewimble | a story by AMBCrypto

Upcoming events:

Roadmap

  1. Lelantus-mw activation in a few months. Check link 1, link 2, and link 3 for more precise information
  2. Second POW change hard fork on Block 642,642 (March 2020)
  3. Transition to Foundation governance
  4. The first halving on January 4th, 2020, soon: http://beamprivacy.community / http://beam.mw
  1. According to the recent Roadmap Update:

First, they decided to extend the scope of the Double Doppler release till the end of the year.

The release will include the following major features:

  1. A decentralized marketplace for Atomic Swaps in the Beam wallet
  2. Lelantus-MW on Testnet
  3. Confidential Assets POC/Testnet
  4. Multisig
  5. Hardware Wallets — Finalizing Trezor working on Ledger support
  6. Opt-in Audit — initial features

The next version, codenamed Eager Electron, will be released in the first quarter of 2020 and will contain the following items:

  1. Second Hard Fork (PoW update)
  2. Lelantus-MW on Mainnet
  3. Confidential Assets on Mainnet

Tor/i2P integration

Some of the functionality that they originally planned for 2019 but was given lower priority compared to other tasks:

  1. GhostDAG research and POC — delayed to 2020
  2. Porting to Rust — they will seek the community help for this. Beam Foundation will issue grants to perform this task.
  3. Enhanced Wallet Security — delayed till they start working on Beam Business Wallet
  4. Lightning — while Lightning is a fascinating technology, they feel that Beam network is fast and private enough at the moment, so the work on full Lighting implementation is also delayed
  5. BLS Signatures — currently delayed, they will review this in the beginning of 2020

The next big thing — looking further into 2020!

The 2019 goal is to build a solid Layer 1 network for Beam. In 2020, they will spend more time on expanding Layer 2 and making Beam more of a platform.

Confidential Assets being the first step in this direction, the natural next steps is to offer full Smart Contract capabilities to the network.

Smart Contracts will allow for a multitude of applications, including stable coins, P2P lending, non-custodial exchanges, and other DeFi applications.

Mimblewimble does not support smart contracts per se, so the right way to add them to Beam is through a sidechain. They will be researching the existing projects to choose the right technology for the sidechain (can be Libra, Ton or something else). The high-level design goals are to create a sidechain with Turing-complete smart contracts, multiple assets with the ability for 1-to-1 pegging to assets on Beam mainnet, fast execution, and strong privacy.

Finance

Source: https://explorer.beam.mw/
Source: https://explorer.beam.mw/

Partnerships and team members

Here you can find the list of the shops and services that do accept Beam as a Payment Method. It is updated every week!

Currently, you can implement BeamPay on the e-commerce website to bill digital clients.

To discover how to proceed, please refer here.

The author is ready to provide assistance, please do not hesitate to reach him.

Rumors

No updates.

Social media metrics

Social media activity
Social media dynamics
Social media dynamics

The graph above shows the dynamics of changes in the number of BEAM Facebook likes, Reddit subscribers and Twitter followers. The information is taken from BEAM coingecko.com.

Downloads: Beam Android Wallet | Beam iOS Wallet | Beam Desktop Wallet

This is not financial advice.

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