Beam Price 2020
The current price of Beam fluctuates around $0.584455; the total market capitalization is $31,041,339 or 3,578 BTC, which makes Beam one of the 110 most popular digital currencies as of January 2020. The circulating supply is 53,111,600 BEAM, while the maximum supply of BEAM is 262,800,000 coins. The daily trading volume is around $27,949,729 or 3,222 BTC. Beam is trading on several major markets, yet the most active exchange that trades BEAM is Binance.
The all-time high of Beam, $3.21, was reached on January 28, 2019 – outside the most famous cryptocurrency bull-run of Winter 2017-2018. On the other hand, the all-time low of BEAM, $0.381546, occurred way back on June 6, 2019. Currently, the estimated ROI (return on investment) of Beam is 1.60%, which means that $100 worth of BEAM bought at the time of the Beam launch would yield around $1.6 of profit today.
Despite the short history of Beam on the cryptocurrency market (Beam only started trading at the beginning of 2019), the price chart has experienced substantial turbulence. When looking at the price chart of Beam, one can infer the fluctuations of the coin over the past six months. The local maximum of BEAM was at $2.352, while the bottom price was $0.3934 – much closer to the actual state of BEAM. There is a whole order of magnitude between the highest and the lowest historical prices of Beam.
What if one were to invest a thousand dollars in BEAM now? According to CoinPredictor, the price of BEAM is going to increase in the short term. A 4-week forecast mentions the likelihood of a 4.1% increase in the price of BEAM by the end of the month. This means that a $1000-worth investment in BEAM could yield $1041 by the middle of February 2020.
What is Beam
Beam is an open-source, decentralized cryptocurrency operating on the Mimblewimble blockchain. The development team of Beam seeks to create a novel privacy-enhanced alternative to Bitcoin with a startup mindset and a user-friendly approach. Beam was the first-ever cryptocurrency to incorporate the Mimblewimble protocol and was later followed by Grin.
The idea of the Mimblewimble blockchain was conceived in 2016. The protocol aims to offer a different way of constructing payments in order to achieve enhanced privacy and efficiency. Simply put, the network seeks to make transactions confidential and untraceable. MimbleWimble is a combination of Pedersen Commitments and Confidential Transactions (CTs). CTs are complex, unlike other cryptographic payments. The complexity arises from the need to provide proof of every single transaction.
Another unique technology behind Beam is known as Dandelion. The Dandelion technology is focused on obscuring the network traffic activity by randomizing the pathways that are used by transactions. In Beam, those pathways are dispersed around the blockchain as a way of enhancing privacy. In the upcoming developments, the Beam team is planning to set up an optional transparency feature. The feature would enable users to decide for themselves which information is available, and to which parties.
The coding language of the Beam protocol is C++. Beam positions itself as a confidential value-storage coin with a fixed issuance schedule similar to that of Bitcoin. In other words, Beam uses the deflationary model in its monetary policy. In addition, Beam supports non-interactive offline transactions within the secure BBS system. Beam runs on the Equihash Proof-of-Work (PoW) consensus mechanism.
The development team is currently working on various upgrades of the protocol. In the coming upgrades, the team is planning to set up atomic swaps with Bitcoin, a hardware wallet, a mobile wallet, lightening network PoC and BTCPay Server integration. The protocol is set to have a clear cathode and mining algorithm hard fork.
To summarize, some of the outstanding features of BEAM include:
- Auditable Wallet;
- Compact Blockchain;
- Bulletin Board System (BBS);
- Business Auditability Feature