Beam

growth-positive

Beam, a layer one privacy blockchain, has raised $2M funding for its upcoming upgrade. The funding will be used to build a DeFi ecosystem on a private and scalable blockchain. Investors include Collider Ventures, Altonomy, LionsChain, Alternity Capital, Youbi Capital, AirSpeed18, Bering Waters, Taureon, Patrick Dai, Winslow Strong, Ivo Georgiev.

growth-positive

Privacy-focused coin Beam plans to execute its second hard fork, Beam Eager Electron 5.0, which would give DeFi apps a privacy layer. The hard fork will include shifting the networks PoW algorithm, BeamHash II to BeamHash III. The upgrade aims to support the creation of privacy-focused DeFi apps on top of the Beam blockchain. Other features of the upgrade include a breaking linkability feature, making the transaction process of Confidential Assets easier, and the official launch of the networks Atomic Swap. The hard fork is expected to occur today, at block 777,777.

growth-positive

Beam, a privacy-based token on the MimbleWimble project, has been performing well in the cryptocurrency space. The CEO of Beam, Alexander Zaidelson, recently did an interview where he discussed various topics including the comparison to Grin and other privacy-based coins, the vision for Beam, MimbleWimble technology, expansion plans in Asia, and the future of the company. Zaidelson believes that Beam outperforms other privacy-based coins in terms of technology and scalability. He also emphasized the commitment to decentralization despite being a CEO-driven company. The company is looking to create a value transfer ecosystem with optional compliance and is developing more confidential assets. Zaidelson sees MimbleWimble as a new generation of blockchain technology with powerful privacy features and scalability. Beam is expanding its business in China and Asia and plans to allow ASIC mining in 2020. Zaidelson holds high expectations for Beams future and believes it has the potential to be a top-five cryptocurrency.

growth-positive

Japanese internet giant Recruit has invested $5 million in Israeli cryptocurrency startup Beam, which focuses on protecting users privacy. The investment was made through a blockchain investment fund set up by Recruit. Beam, founded in March 2018, issued its cryptocurrency in January 2019. The investment was made using the Simple Agreement for Future Tokens (SAFT) framework. Beams cryptocurrency is based on the Mimblewimble protocol, which allows for private transactions on a public blockchain. The investment is seen as a positive growth opportunity for Beam.