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Beam: Halved Successfully, Plans For 2020, Lelantus MW Discussed, Progress On Double Doppler 4.2, Beam Web Wallet And Trustless Wallet Service

Biweekly update 3 January — 17 January

“In the crypto-space, especially in privacy coins, it’s much more desirable in some sense to have decentralized governance, just because a decentralized system is more resilient.”

“The holiday season is now officially over, work is in full swing” — here is a Beam motto for this January. The Team Beam has already coped with a sensible amount of development — they are ready to make 2020 epic! The first vital milestone to mention is Beam Halving that occurred on 4th January, slashing the block reward from 100 to 50 coins. The next event won’t be due for another four years. Looking into 2020, Beam CTO Alex Romanov gave an extremely informative speech about Beam’s current plans and focuses, featuring Lelantus MW implementation. To recall — Lelantus is the work of Zcoin’s cryptographer Aram Jivanyan as part of the research in order to improve its privacy protocol. Another video by Alex Romanov was aimed to go deep into Beam Web Wallet and Trustless Wallet Service, where he discussed wallet communications, integrated and remote nodes, multiple wallets with the same seed, and trustless centralized wallet service.

Furthermore, in the recent development update, information appeared on the upcoming Double Doppler 4.2 release, including Beam wallet channels using the SBBS system, the API for Atomic Swaps, and the Beam wallet ID. At the end of the video, Alex Romanov answered questions from the community as a part of the Telegram Q&A session. In total, Beam had 48 commits in /beam, 235 open issues in /beam, 36 open issues in /android-wallet, and 19 open issues in /ios-wallet.

By the way, Beam life was vivid, not only on the development side. Interview/AMA with Alexander Zaidelson, CEO of Beam, was published, and now you can watch on YouTube or listen on Spotify. There is also a Coingecko interview with Beam CEO and CTO, where they discussed fundamental differences between Beam and Grin, Dandelion Protocol, achievements of 2019, and the most crucial goals for 2020. The roadmap is to come! Besides, Beam ambassador Obinna Nwankwo will be representing Beam at OKEx talk, one of Africa’s leading exchange platforms. They will be talking about Africa’s growth with the aid of blockchain and how Beam Privacy can support durable development. Another African ambassador, Agbona Igwemoh, shared an article presenting 2019 Highlights & Achievements of Beam in their region.

The community keeps expanding. There is a constant increase in the number of subscribers in social networks and chats. Join hot discussions in Telegram and keep yourself informed! See you in two weeks!

Source: @gussulliman Twitter

Development

BEAM GitHub metrics
Developer activity (from BEAM Coinlib.io)
  • Why did Beam halve? What is Halving? Halving is an event that slashes the rewards by half. The programmers write a code for the blockchain to execute at a set time. This code would make the blockchain reduce its reward by half once it is executed. So, that code was executed on the Beam Blockchain. And the rewards the blockchain gives has reduced from 100 coins to 50 coins. It is good in a sense that for something to be valuable, it has to have a certain degree of scarcity. Beam was programmed to halve once in every 4 years too. After this one, its next halving event will happen in 2024. If things continue this way, Beam’s total supply of 262,800,000 coins would have all been mined in 132 years.
  • Discover the plans for 2020 and Lelantus primer. Linkability is the Achilles’ heel of MW, Beam has several improvements to the original MW to obfuscate the transaction graph. Now they’re building a hybrid, of MW and Lelantus, which should be a huge step forward in this direction.

To learn about Lelantus:

The Lelantus protocol is the work of Zcoin’s cryptographer Aram Jivanyan as part of the research to improve its privacy protocol. Link: https://lelantus.io Their design and implementation are based on the publicly-available Lelantus scientific paper. All their code was developed from scratch based on this paper alone.

In this video Alex Romanov, Beam CTO, gives all the necessary information about the Lelantus, gives feedback on 2019 and announces plans for 2020.

2020 PLANS:

  1. Lelantus MW (see a picture below)
  2. Confidential assets (gateway to DeFi, confidential by default, integrated with existing product line)
  3. Bridges (allowing to move assets from Ethereum, trading confidentially)
  4. Web Wallet (trustless online service, adoption, and integrations, bridge support)
  • Beam 2020 week #2 — What’s up? — Covering January 7th-12th 2020. The holiday season is now officially over, work is in full swing. They are currently working on the 2020 roadmap — it will be published soon.

Dev

  1. Good progress on Double Doppler 4.2 that will include a web wallet and many other super cool stuff
  2. They had 48 commits in /beam
  3. 235 open issues in /beam, 36 open issues in /android-wallet, and 19 open issues in /ios-wallet
  1. Wallet Communications
  2. Integrated and remote nodes
  3. Own node and owner key
  4. Multiple wallets with the same seed
  5. Trustless centralized wallet service
  6. Web wallet demo
  • Beam Weekly Development Update, 14 January 2020 — current status of Beam development by Alex Romanov. He looks at the upcoming Double Doppler 4.2 release including Beam wallet channels using the SBBS system, the API for Atomic Swaps and the Beam wallet ID. At the end of the video, he answers questions from the community as a part of Telegram Q&A session — don’t miss it out!

Social encounters

  • Another great VoskCoin video about Top 5 Reasons to Buy Beam Coin in 2020. Beam is rich in features, for example, did you know that Beam is a GPU mineable proof of work crypto, which is arguably the best and safest consensus mechanism for a crypto coin! Beam is building their own version of the Bitcoin lightning network, and dubbing it Beam laser beam.
  • SkuLog 1.0.0.6 Beam Atomic Swaps — read Raskul’s blog and learn everything about atomic swaps. An atomic swap from directly within the Beam wallet is a means of transacting Beam privately and securely, on the immutable Beam blockchain without the need for a third party or bank to allow you to make the transaction.
  • Beam Africa: 2019 Highlights & Achievements. 2020 is Going to be Epic! Beam ambassadors are tasked with the footwork of generating awareness for Beam in various corners all over the world. Learn about the Beam African community, its progress of 2019 and plans for 2020 in a nice article by Agbona Igwemoh.
  • CoinGecko Podcast Ep. 1 — Interview with Alexander Zaidelson, CEO of Beam and Alex Romanov, CTO of Beam, where they discussed Fundamental differences between Beam and Grin, Dandelion Protocol, achievements this year, the roadmap for 2020, plans, biggest goals, implementation of the Lelantus Protocol and a lot more!
  • A video considering what is Beam (BEAM). Watch a 6-minutes overview!
  • Interview/AMA with Alexander Zaidelson, CEO of Beam is now live. Watch it on Youtube or listen to a Podcast on Spotify.

Pay your attention to the part of privacy coin comparison: Beam, Grin, Monero & Zcash.

  • How to GPU Mine BEAM Coin (BEAM) — Beam is an ASIC resistant privacy coin using a custom version of Equihash 150/5 algorithm called BEAM Hash II and the mimblewimble blockchain design. Crypto Vin gives a brief overview of the project and how to mine it using gminer on Simplemining OS (SMOS).

Upcoming events:

  1. Stockholm University Welcome Fair | Jan. 21st 2020
  2. 25th January 2020, Nakuru, Kenya — Obinna Nwankwo will be representing Beam at OKEx talk, one of Africa’s leading exchange platforms. They will be talking about Africa’s growth with the aid of blockchain and how important Beam Privacy will be part of her growth.
  3. Créer les applis conversationnelles avec Dialogflow, Cotonou, Benin | Jan. 25th 2020
  4. Chainlink Meetup, South/West Uganda | Jan. 31st 2020
  5. Advancing Bitcoin, London, UK | Feb. 6th 2020

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, less than 40 days: http://beamprivacy.community / http://beam.mw
  5. According to the recent Roadmap Update:

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
  4. 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 was 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/

Partnerships and team members

For more guys from an amazing team Beam click here.

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

Rumors

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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