How to convert BEAM to BTC
Beaxy allows you to trade Beam with convenience and peace of mind. Our user interface is customizable and can be optimized for beginners and experts alike. Reduce your risk by storing Beam in our custodied wallets.
To access all of Beaxy’s features:
– Register at Beaxy.com/register
– Complete Verification
– Fund your account – Make a deposit or buy crypto with your credit or debit card
– Start Trading!
Beaxy provides advanced charting tools, a revolutionary swipe trading app, world-class FIX and REST API, and FIAT onboarding and offboarding to make for the best possible Beam trading experience. Trade Beam in the most sophisticated and simple ways on Beaxy.
Converting BEAM to other currencies
To convert BEAM to your national currency, check the converter above to see what the conversion rate is. Simply select your national currency to see what the price of BEAM is. The best part is you can place an order for BEAM directly from the converter once you select your currency!
About BEAM:
Beam is a cryptocurrency based on the new MimbleWimble protocol. As the first MimbleWimble implementation to go live, Beam is an innovative cryptocurrency that offers base layer privacy. It achieves this by ensuring that address information isn’t stored on the blockchain and keeps all transactions private by default, as opposed to its competitors that have privacy as an optional feature. The token allows for multiple transaction types that include; time-locked transactions, atomic swaps, escrow transactions, and more. Time-locked transactions allow you to send Beam and ensure that it can not be spent for a predetermined amount of time. Atomic swaps enable Beam holders to convert their funds into a different cryptocurrency without having to place and order on an exchange. The swap occurs directly between both of the participating blockchains. Escrow transitions give Beam token holders the ability to leave funds without having to trust an third party intermediary.
The development of the Beam testnet began in February 2018. The testnet was launched in September 2018 and the protocol’s mainnet was released on January 3rd, 2019. Later that spring, Beam implemented a full suite of wallets for the most popular desktop and mobile operating systems. The Beam protocol was hard forked on August 15th, 2019 to upgrade its mining algorithm. The digital asset and protocol have been developed by Beam, a for-profit corporation. Eventually, funding for the digital asset and protocol will come from the Beam Foundation, a non-profit entity. At that point, the project will become self-sustaining. The foundation is funded by the Beam treasury which will allocate 4% of all Beam that is mined in the first five years of the token’s existence for the purpose of further developing the project. The foundation is currently being controlled by an independent Board of Directors. However; they wish to fully decentralize the project in the future by increasing community involvement when making decisions about the platform.
Beam uses Nakamoto Consensus which validates the official chain as the chan with the longest connection of proof-of-work. Consensus on a new chain would be reached by a majority validating one that contained more blocks.
Beam miners find solutions to complex computational inputs. New blocks are generated by algorithmic hashing. The Beam miners compete to hash for a lower value than the one determined by Beam’s protocol. The mining difficulty on the Beam network is adjusted after every block. Difficulty adjustments maintain equity within the network.
Beam uses the Beam Hash algorithm for its more complex features, this makes it harder for AISIC miners to dominate the protocol. Most commonly, Beam is mined with a GPU and with power pooled together by multiple parties who wish to combine their resources to increase their ability to mine more blocks. By utilizing GPU’s and mining pools, the Beam network makes it easier for those using average systems to participate and make positive contributions to the protocol.