Micro-Cap Altcoin to Follow: Beam (BEAM)
The First Mimblewimble Coin
Beam first gained mainstream crypto attention after becoming the first Mimblewimble privacy coin to launch, making its debut in early January. The technology behind the coin, which is named after a Harry Potter spell, ultimately allows for truly private transactions and a scalable blockchain that is smaller than other blockchain implementations.
Since that time, the Beam team has built off the awareness created by its launch, pushing through multiple partnerships and developments.
First, the development team wasted no time in releasing its 2019 roadmap, which notably includes atomic swaps with Bitcoin, hardware wallet integration, an Android wallet, a proof-of-concept Lightning Network implementation and payment platform integration.
Beam has already published a plan of action for the Lightning Network, noting that while it already has a TPS that is roughly 3x of Bitcoin, it needs to further improve its transaction speed in order to compete with major payment processors.
The project also recently launched the beta of its mobile wallet for Android on its testnet, again checking off a major early milestone on its roadmap.
— @Beamprivacy (@beamprivacy) February 14, 2019
Another positive came when NiceHash, a cryptocurrency hash power broker with an integrated marketplace that connects sellers of hashing power with buyers of hashing power, announced that it has added support for Beam. This means that GPU miners can use NiceHash to directly mine BEAM.
Perhaps the most notable development has been the recent partnership announcement with Litecoin (LTC) to help the project implement Mimblewimble. According to the announcement, the Litecoin Foundation approached Beam about implementing the privacy protocol using extension blocks on Litecoin.
Last but not least, Recruit, a company described by Bloomberg as the Japanese-equivalent of LinkedIn, Zillow, Yelp, eHarmony, Booking.com, Square and dozens of other apps under one roof, revealed an investment in Beam on Monday.
Given the ratio of both its technical and business development progress to its current market cap, Beam is definitely an altcoin worth watching going forward.
Interesting: Mimblewimble explained like you’re 12
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.