Question 1

Why is Beam not the same as other privacy coins?

Accepted Answer

Using the Mimblewimble protocol, Beam’s transactions are kept private and scalable as amounts and addresses are hidden in the blockchain.

Question 2

How does Beam ensure that everyone’s information remains private without sacrificing the ability to scale?

Accepted Answer

The strong privacy of Beam is thanks to the use of Mimblewimble’s small blocks and private transaction system.

Question 3

How does Beam’s supply model impact its price dynamics?

Accepted Answer

There is a fixed number of Beam (262.8 million) that can be produced and as mining rewards are cut in half twice yearly, the token becomes scarcer.

Question 4

Can Beam function in the world of decentralized finance (DeFi)?

Accepted Answer

Yes, Beam is on its way to supply secure and confidential DeFi applications for safe lending, borrowing and trading without sharing user identities.

Question 5

Can people new to crypto safely use Beam?

Accepted Answer

Since Beam is complex and puts privacy first, people new to cryptocurrency should understand both wallets and basic privacy notions before using it much.

Question 6

Which wallets have the features needed for Beam and privacy?

Accepted Answer

You can use Beam’s official wallets which outwardly appear as any other address, despite secretly being confidential.

Question 7

Might Beam’s privacy technology be limited by governmental regulations?

Accepted Answer

Because Beam and other privacy coins have raised concerns about possible misuse, governments are watching them carefully.

Question 8

What is the rate of progress on Beam, and how engaged is its community?

Accepted Answer

Beam Foundation is focused on keeping the protocol updated, putting effort into making it easier to use, more secure and offering further privacy-based features with a committed group of developers and users.

Question 9

Can the privacy of Beam’s blockchain allow for independent audits?

Accepted Answer

Maintaining privacy for users, the blockchain is still designed so transactions can be checked by anyone to confirm there are no issues with the whole network.

Question 10

Besides private payments, what areas is Beam designed for?

Accepted Answer

The Beam protocol is built to support anonymous contracts, transparent issue of assets and secret voting, among other uses of privacy.

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