What is BEAM?

Beam is a cryptocurrency utilizing the Mimblewimble protocol to achieve scalability, privacy, and fungibility. All transactions are private by default, and no addresses or personal information are stored on the blockchain. The architecture enables both online and offline transactions, supports atomic swaps, and can integrate with hardware wallets. The blockchain is designed to remain compact, enhancing scalability, and incorporates opt-in auditability features. Each transaction is validated using the Schnorr protocol, ensuring strong security through non-interactive zero-knowledge proofs and a Merkle Tree structure for state verification.

The governance model of Beam operates without a premine or ICO, with support provided through a treasury. Plans for transitioning to a non-profit foundation to manage the protocol are underway post-Mainnet launch. Transactions are mined approximately every minute, with valid transactions being included in blocks that extend the longest chain. New nodes can utilize a fast sync feature to download only the necessary blockchain headers and state, simplifying the onboarding process.