What is the BEAM coin used for?

How the BEAM token is used. Beam is a Proof of Work privacy preserving blockchain with a similar emission schedule to Bitcoin.

What is BEAM coin?

BEAM is the native coin of the Beam blockchain.

What is BEAM coin used for?

  • Transaction fees
  • Block rewards/mining

What is Beam?

Beam is a Proof of Work privacy preserving blockchain with a similar emission schedule to Bitcoin. It has no ICO or premine but 20% of the block rewards (5 years) go to a treasury controlled by the team.

How does Beam work?

Beam is a privacy coin with an implementation of the MimbleWimble protocol. Users or pools can mine coins with GPU.

It features

  • Escrow transactions
  • Time locked transactions
  • Atomic swaps
  • Beam Virtual Machine
  • BeamX DeFi platform with private transactions

Size

Nodes only store the current UTXO state, instead of the entire transaction history. Storing headers of the previous blocks, for all earlier states (Merkle tree). This could make the size as small as 10% of Bitcoin.

Transactions

Beam supports 17 transactions per second and could use lightning for scaling.

Governance

The team and Beam Development Ltd. won’t govern the protocol in the future. The code will be open source and the community will have the ability to create a foundation.

BEAM tokenomics

Total supply: 262,800,000

Emissions

  • 80 coins per block (1st year
  • 5 – 40 coins per block (year 2-5)
  • 25 coins (6-9)
  • Halving every four years until year 133

Distribution

  • 80% Mining
  • 20% block rewards to Treasury

Treasury breakdown

  • Foundation – 20%
  • Investors – 35%
  • Team, advisors – 45%

Docs

Similar projects

  • Zcash
  • Monero

BEAM coin price

 

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