Unchained Why Beam Thinks Businesses Will Use Its Cryptocurrency - Ep.115
Apr 16, 2019
Alexander Zaidelson, CEO of Beam, shares insights into his work on this privacy-focused cryptocurrency built on the MimbleWimble protocol. He discusses Beam's uniqueness compared to Grin and delves into the importance of confidentiality in everyday transactions. Zaidelson explores strategic partnerships for adoption and addresses how Beam aims to balance privacy with regulatory compliance. He also highlights the challenges of venture capital in crypto and the future landscape of scalable, user-friendly cryptocurrencies.
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Mimblewimble Protocol
- Mimblewimble, unlike Bitcoin, uses no addresses; users hold keys locking coins (UTXOs).
- Transactions validate input-output sums and positive values via bulletproofs, ensuring no illegal money printing.
Beam's Focus on Confidentiality
- Beam prioritizes confidentiality for money, seeing it as crucial for crypto's monetary role.
- Mimblewimble offers built-in confidentiality without the scalability issues of Zcash or Monero.
Beam's Target Customers
- Beam targets crypto enthusiasts, miners, and traders, aiming for use in privacy-focused services like VPNs.
- A future goal is enabling businesses to use Beam while passing AML tests, creating an audit trail.