What is Beam Coin? How does Beam Coin work?

Beam Coin: A Privacy-Focused Cryptocurrency

Beam Coin is a privacy-focused cryptocurrency designed to provide secure and anonymous transactions. It uses the MimbleWimble protocol, a blockchain technology that enhances user privacy by merging transactions and hiding the addresses of senders and receivers. The design concept of Beam Coin is to provide users with a digital currency option that ensures the confidentiality of transaction information. By adopting this protocol, users can conduct transactions with greater confidence without worrying about their personal privacy information being leaked. This privacy-protecting feature makes Beam Coin

How Beam Coin works

The MimbleWimble protocol enhances privacy in the following ways:

• Transaction merging: It merges multiple Transactions are combined into a single transaction, thereby reducing the number of transactions on the blockchain.
• Address hiding: It hides the address of the sender and receiver, making the transaction untraceable.
• Transaction Verifiable: Although addresses are hidden, transactions can still be verified to ensure their validity.

Beam Coin also employs the following features to further enhance privacy:

• Bulletproofs: This is a cryptographic proof that allows verification of the validity of a transaction without revealing the transaction any details.
• Dandelion: This is a network protocol that enhances the anonymity of the network by adding a delay before broadcasting transactions.

By combining these technologies, Beam Coin provides users with a high degree of privacy and anonymity while still maintaining the integrity and security of transactions.

The above is the detailed content of What is Beam Coin? How does Beam Coin work?. For more information, please follow other related articles on the PHP Chinese website!