BeamPrice

(BEAM)

Beam is a blockchain gaming ecosystem designed to empower both game developers and players by simplifying the complexities of blockchain game development. It provides comprehensive APIs and SDKs to create an improved gaming experience. Operating as a subnet on the Avalanche network, Beam leverages Avalanche's fast and low-cost environment to address issues like high transaction fees. Historically, Beam was also known as a privacy-oriented Layer 1 blockchain using the Mimblewimble protocol.

The BEAM token is the native cryptocurrency of the Beam Network, serving multiple critical functions. It acts as the gas token, fueling every transaction within the ecosystem. Token holders can validate, delegate, and secure the network through staking in its Proof-of-Stake model, earning rewards. BEAM also grants governance rights, allowing holders to propose and vote on ecosystem changes. Furthermore, it is used as a means of payment for in-game NFTs, tokens, and services across the Beam ecosystem.

The Beam Network operates as an Avalanche subnet, benefiting from Avalanche's inherent scalability, speed, and security. It is EVM (Ethereum Virtual Machine) compatible, allowing for seamless integration with Ethereum-based tools and applications. The network supports omnichain tokens and NFTs, facilitating cross-chain transfers through advanced solutions like LayerZero contracts, which significantly enhances interoperability across various blockchain environments. The original Beam project utilized Mimblewimble and Lelantus protocols for privacy.

The original Beam project, launched in 2019, focused heavily on privacy by employing the Mimblewimble and Lelantus protocols. These technologies made privacy a default feature, concealing sender, receiver, and transaction amounts. It notably did not record transaction history or wallet addresses on the blockchain, storing this data locally. While the Beam ecosystem under Merit Circle DAO now primarily focuses on gaming, its roots are in these privacy-preserving blockchain technologies, though the current gaming focus has shifted its primary emphasis.

BEAM tokens have a fixed supply and follow a deflationary emission schedule that includes periodic halvings, similar to Bitcoin. While the initial privacy coin had a total supply capped at approximately 263 million BEAM, the newer Beam gaming ecosystem token, managed by the Merit Circle DAO, has a larger total supply, typically cited between 63 billion and 68.47 billion tokens. The tokenomics also incorporates a burning mechanism for BEAM tokens to manage supply. Additionally, block rewards from the earlier implementation contributed to the Beam Treasury for development.

BEAM tokens are available for purchase on various cryptocurrency exchanges. For secure storage, users can utilize dedicated Beam wallets, which are offered in multiple formats including desktop applications, mobile apps, and web-based browser extensions. These wallets provide specialized interfaces for managing and interacting with BEAM tokens and other assets within the Beam ecosystem.