Beam Coin: A Good Investment Option?

Beam (BEAM) is a cryptocurrency that aims to explore confidential Decentralized Finance (DeFi) by employing the Mimblewimble protocol, which provides enhanced privacy and scalability. It is one of the newer coins in the market, having been launched in January 2019, with a focus on providing stronger privacy controls and ensuring that transactions are private by default. With ongoing developments and upgrades, Beam has the potential to reach new heights in the crypto market. In this article, we will delve into the key features, price analysis, and investment prospects of Beam to determine if it is a good investment option.

Beam's privacy features

BEAM is a privacy coin that aims to explore confidential decentralised finance (DeFi). It employs the Mimblewimble protocol, which covers up transaction values and metadata while limiting blockchain bloating and enhancing scalability.

Beam's blockchain supports private stablecoins, NFTs, AMMs, and future developments like lending, oracles, sidechains, wrapped assets, and more.

The platform supports various transaction types, including escrow and atomic swaps, which are essential for secure and trustless exchanges between parties. Furthermore, its time-locked transactions add an additional layer of security and flexibility, enabling users to set conditions for when funds can be accessed.

User addresses are kept confidential at all times and are never disclosed to any third parties. Users have total access and control over their privacy, deciding who can access their information and what they are allowed to see.

Beam's confidential transaction mechanism allows for the creation and exchange of a variety of asset types. It leverages the Proof-of-Work consensus mechanism to provide more privacy and improve network scalability.

Beam offers standard privacy transactions for robust anonymity and maximum anonymity set transactions with a 64k anonymity set – privacy is the default for all.

Beam's scalability

Beam is a privacy coin that aims to explore confidential Decentralized Finance (DeFi). It employs the Mimblewimble protocol, which covers up transaction values and metadata while limiting blockchain bloating and enhancing scalability.

Beam's confidential transaction mechanism allows for the creation and exchange of a variety of asset types. Mimblewimble (MW), a blockchain design introduced in 2016, leverages the Proof-of-Work consensus mechanism to provide more privacy and improve network scalability. This design allows for faster synching of nodes since they need only verify the authenticity of certain recent inputs rather than the entire blockchain.

Beam has also introduced the concepts of confidential transactions and confidential assets as an added privacy value feature. This feature will allow for the creation of new digital asset types, such as debt instruments, real estate assets, and new currencies, all of which can be easily exchanged privately on the Beam platform.

While other blockchains have struggled with scalability issues, Beam believes it has solved the issue by keeping a lean and compact blockchain. Transactions have been designed to avoid bloating through the use of the Mimblewimble protocol to prune old data that is no longer relevant to current transaction processing needs. This will reduce computational overhead demands, thus improving network scalability.

Beam has been designed to be capable of supporting a variety of transaction types using its Scriptless Script technology. Besides simple value transfers, Beam also supports time-locked transfers, atomic swaps, and escrow payments.

Beam's commitment to scalability is further evidenced by its implementation of the Dandelion Protocol, which lowers the probability that personal data can be linked to addresses and transactions. Additionally, Beam utilizes the Secure Bulletin Board System, which permits the exchange of secure encrypted messages between wallets, even if they are not online simultaneously.

Beam's price predictions

Beam Price Predictions

Beam (BEAM) is a privacy coin that aims to explore confidential DeFi. It employs the Mimblewimble protocol, which provides more privacy and enhances scalability. The latest BEAM price is $0.681976, with a 24-hour trading volume of $7,093,172. The current sentiment is bearish, with a Fear & Greed Index reading of 25.66, indicating extreme fear.

Short-Term Predictions

According to one source, BEAM is expected to reach $1.97 by the end of 2021, with a possibility of reaching $2.5 if investors decide it is a good investment. Another source predicts that BEAM will be worth $0.0708 in one year, which is nearly double its current price.

Long-Term Predictions

Longer-term predictions vary. One source predicts that BEAM will be worth $0.0835 by the end of 2025, while another predicts it will reach $0.12 by the end of 2026. By 2027, BEAM is predicted to double in price, potentially reaching $0.14 or $0.15. By 2028, BEAM is expected to surpass $0.15, with a minimum price of $0.12.

By 2029, BEAM is predicted to cross the $0.17 price level, with a maximum price of $0.18. In 2030, the cost of BEAM is expected to reach $0.24. By 2031, BEAM is expected to cross the $0.33 average price level, with a minimum price of $0.31 and a maximum of $0.34.

In 2032, the minimum price of BEAM is estimated to be $0.44, with an average trading price of $0.46 and a maximum of $0.46. In 2033, BEAM is expected to reach a minimum of $0.60 and a maximum of $0.63, potentially breaking its previous high.

It is important to note that cryptocurrency price predictions are highly speculative, and it is not possible to predict prices with total certainty.

Beam's market status

Beam (BEAM) is a privacy coin that aims to explore confidential Decentralized Finance (DeFi). It is one of the newer additions to the cryptocurrency market, having been launched in January 2019. It is built on the Mimblewimble protocol, which covers up transaction values and metadata while limiting blockchain bloating and enhancing scalability.

According to CoinGecko, as of December 2021, the price of Beam was $0.561 with a 24-hour trading volume of $9,895,253. The circulating supply of BEAM coins was 90,579,280, and it was trading on cryptocurrency exchanges such as Binance, BitForex, BitZ, Gate.io, and XT.COM.

In terms of market position, BEAM held the 406th position on CoinGecko at the time. The bullish BEAM price prediction for 2021 ranged from $0.78 to $2.06, with the possibility of reaching $3. However, the bearish market price prediction for the same period was $0.49.

The daily time frame chart of Beam showed a head and shoulders pattern, which indicates a bullish-to-bearish trend reversal. At the time, BEAM was in a bearish state, trading at around 0.555, and had dropped by 3.60% in the last 24 hours. If the price broke the support level of $0.46, it would lead to a further drop. On the other hand, if the trend reversed, the price could rise to 1.97 or even 2.5.

The Relative Strength Index (RSI) of BEAM was at 62.74, indicating that the price was nearly overbought, and traders needed to be cautious. The Relative Volume of BEAM (RVOL) was below the cutoff line, representing weaker participants in the current trend.

Beam's Moving Average (MA) chart showed that it was in a bearish state, but there was a high chance of moving above the 50-MA (short-term) and 200-MA (long-term) levels, which would indicate a bullish state.

A comparison of the price trends of BEAM and Bitcoin (BTC) showed that they were moving at the same level, indicating that when the price of BTC increased or decreased, the price of BEAM followed suit.

With ongoing developments and upgrades, Beam had the potential to reach new heights in the crypto market. It was one of the first full Mimblewimble implementations, bringing improvements in efficiency and privacy. The Beam team was actively working on the protocol, with extensive code commits over the past year, and had a development roadmap with upcoming milestones.

In summary, Beam's market status as of late 2021 showed a bearish trend, but with the potential for a bullish reversal if certain price levels were reached. The coin had a fairly short history, but with its focus on privacy, scalability, and ongoing development, it had the potential to attract more attention in the crypto market.

Beam's competitors

Beam has several competitors and alternative companies, including Neuron Mobility, Global Semiconductor Alliance, Iluvatar CoreX, and Fusi Global Teknologi. Here is a detailed overview of each of these competitors:

• Neuron Mobility: Neuron Mobility is an e-scooter sharing startup, offering an alternative mode of transportation in the sharing economy space.
• Global Semiconductor Alliance (GSA): GSA is a semiconductor and technology industry company with a focus on leadership and innovation. They have a specific initiative called the Women's Leadership Initiative, highlighting their commitment to diversity and inclusion.
• Iluvatar CoreX: Also known as Shanghai Tianshu Zhixin Semiconductor, Iluvatar CoreX is a developer of computing solutions. They create System-on-a-Chip (SoC) chipsets and have their own proprietary software platform.
• Fusi Global Teknologi: Fusi Global Teknologi is an electronics design services company, providing solutions in the telecommunications and wireless domains.

These companies compete with Beam in various capacities, whether it be in the realm of privacy-focused cryptocurrencies, semiconductor technology, or the sharing economy. It is important to analyze Beam's competitors to understand its unique selling points and potential challenges in the market.

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