Startup From Israel Launches Beam Cryptocurrency
Beam, a startup from Israel, has launched its private cryptocurrency with the same name based on the Bitcoin network using the so-called Mimblewimble protocol, as reported on the company's blog.
The Mimblewimble project gained fame in 2016 and was aimed at customers' confidentiality and Bitcoin network scalability from the very beginning. Initially it was assumed that another cryptocurrency called Grin would be launched on the protocol, it was discussed in 2016 too. However, the authors of the Beam project, which began its development in 2018, managed to get ahead of their colleagues thanks to the received investments.
After the launch of the main network, various functions became available to clients: a computer app with a mining node, a CLI wallet, a Beam node, and some others. All features are available on Windows and Linux operating systems.
As the developers of the Beam cryptocurrency explain, clients will decide for themselves who may have access to what information; full control over personal data will be exercised in accordance with existing rules. Moreover, Beam uses a technology called Dandelion, aimed at hiding information about network traffic activity.
Startup specialists are developing two additional projects ― Lumini and Beam Lightning. One of them is supposed to connect Beam with Ethereum, the other ― with the Lightning Network protocol.
Earlier, the blockchain startup Orbs from Israel received investments from Kakao, the leading South Korean Internet company.