Beam Completed its first halving on Jan. 5th
Beam is a cryptocurrency developed based on the Mimblewimble protocol. Mimblewimble provides a way to optimize Bitcoin, which not only saves storage space, but also provides transaction privacy.
Based on MimbleWimble protocol, Beam has the characteristics of privacy and adoption friendly. All Beam transactions are private by default. The new node joining the network does not need to synchronize the entire transaction history, and can request synchronization to include only the compressed history and block head of the system state, so as to achieve fast synchronization.
In the first half, Beam's block awards were reduced from 100 to 50. It is important to note that Beam, like Zcash, has a 20% foundation fee, so the first half of the actual amount was reduced from 80 to 40 for miners.
Compared with another MW project also integrating MW protocol-Grin, Beam has two characteristics:
First: different economic models. Grin output is constant, no total limit. Beam, like Bitcoin, has halved periodically and draws 20 per cent for foundation and community.
Second: beam is more like a company's product, with a dedicated company team behind it. On the other hand, Grin is driven and maintained purely by the community.
At present, the first block award halving has been completed on January 5, 2020, and the daily mining award has been reduced to about 57000 Beam. For more information about Beam, you can check it out at beam.tokenview.com.