Almost everyone now know about the flaw crypto has caused most especially those who posses bitcoin. Bitcoin makes use of the private and public keys to anonymously carry out transactions. The public key to carry out transaction and exchange value while the private key helps secure the wallet.That’s the good part, the other one is that cryptocurrencies tend to has transparency, that means than everyone can see what everyone does, this can be a problem for people or companies who doesn’t want to let those transaction to everyone reach…
Because those transaction can be tracked and make vulnerable their owners…
When transactions are carried out on the blockchain, a trail is left which consist of the details of the just carried out transaction, this is shown by the public key bitcoin uses. It is believed that a series of transactions carried out can be tracked which will ultimately lead to personal inform
What is Beam?
Beam is a future interface the seeks out to curb the issue bitcoin and other related Cryptos are facing this security issues. Beam is scalable which implies that it is able to be changed in size. Many people prefer their wallet to be confidential and access is only granted to whoever they give the access to. But this has turned out to be the opposite. Various violations has been received regrading tampering on various wallets without the owners consent due to the flaw today's Cryptos possess.
It’s a cryptocurrency completely anonymous for their users, that means that those transactions they make are untraceable, and private between him and the receptor, aspects such as wallet involves an amount of money are private as well.
No matter what tool others can use, those transactions remain as anonymous and unreachable to third parties.
How are many of the current blockchain solutions lacking privacy?
Given that blockchain transaction are not tied directly to your identity,they may appear more private. Anyone in the world can create a new wallet anytime and transact with it. It's rather not private after all. Looking at all tried-out solutions being proffered by blockchain to curb the privacy issue such as storage constraint,limited scalability,lack of formal contract verification, all appear to be void. When transactions are carried out, details of the transaction are left by the public key and this detail can be used to trail back the coin to the origin and can result in gaining access to wallet's personal information leading to theft or loss of valuables.
Anita is a trade and business consultant. She offers service to high business firms and individuals. She provides advice in crypto trades. To her peers,she's not the best but to her consultants, they know the kind of peace of mind they get (with evidence) that no one will sniff through their assets without their authorization. Why?, because she has what others don't. She has Beam !!,Utmost security guaranteed .
Mary started to use cryptocurrencies recently, she is fascinated for them, but she owns some money to his friend who introduce her to blockchain world, his friend is pushing her to pay him, but she is investing in other cryptocurrency in that moment…
She is afraid than his friend realizes of that, but she is investing to make more money and pay him some more money for it, its then when she heard about BEAM, making that last transaction privacy to keep investing and keep his friendship.
SUMMARY AND CONCLUSION
BEAM mission is to make their users responsible of their own privacy, in consequence their experience is safer, faster and completely private as they wanted to be.
That’s the personal stamp from them, innovating in safety providing a level of privacy better than any other on blockchain platform.
It is with no iota of doubt that I believe the exposition so far indicates that the lingering privacy and scalability problems in cryptocurrency are solvable through BEAM. I strongly opine, that cryptocurrency users should explore the benefits provided by BEAMbecause I know it is nulis secondus . I strongly recommend that any users whose uncompromising desire in crytocurrency world is privacy to explore it.
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