BiKi.com Lends Support to Privacy Token Beam in their Second Hard ForkÂ
The cryptocurrency exchange is thrilled to collaborate on promoting Beam’s hard fork update along with other community-driven efforts. The exchange is well-known for their ongoing support of platform-listed projects as well as their philosophy of placing a high priority on community.
Both businesses will engage in cross-marketing to their respective user bases, as well as host AMAs to assist users in gaining a deeper understanding of the other’s platform(s). Given that both sides are involved in very active communities, these projects can be of mutual benefit to both parties.
Amir Aaronson, the Chief Operating Officer of the Beam Foundation, commented that “we absolutely see the value and the volume that BiKi adds to Beam.” Beam had support from BiKi during our first Hard Fork one year ago, and the company will provide support for the future Hard Fork as well. I have high hopes that other exchanges will handle similar network improvements with the same level of professionalism as BiKi has shown.
Confidential and able to be scaled up
The values and information of transactions that are carried out on the immutable Beam blockchain are kept completely hidden by the privacy-focused and scalable cryptocurrency known as Beam.
At this time, Beam wallets contain capabilities such as atomic swaps that enable the anonymous exchange of BEAM with other cryptocurrencies such as BTC, LTC, and QTUM. In addition to this, they have payment proofs that enable senders to demonstrate that payments have been made despite the fact that the blockchain does not contain any values.
Maintaining stability while releasing confidential assets and making one-sided payments
After the completion of the Hard Fork, the following extra functionality will first become available on the CLI wallet, followed by the GUI wallet about one month later. Beam will be able to function as a genuinely private and secure financial ecosystem as a result of these additions. This ecosystem will enable the production and exchange of any digital asset and the development of financial services.
This is a brand-new feature that was introduced in conjunction with the Confidential Asset Support and it enables members of the community to issue their very own asset on top of Beam. After that, the asset is eligible for trading on Beam’s Atomic Swap.
The Proof-of-Work (PoW) method of the core Beam mining network will be shifted from BeamHash II to BeamHash III as a direct result of the fork, which will also have a significant impact on the network. The Beam network will finally decide to settle on this particular algorithm. Stability is one of the most important advantages, and because of this, there is the potential for greater in-depth development and investments in both the software and hardware associated with Beam mining.
Users will be able to break the linkability of their UTXOs (Unspent Transaction (TX) Output) after support for the privacy protocol Lelantus Mimblewimble is activated. This will happen when the protocol is activated. Beam’s already excellent level of privacy is enhanced further by the addition of this move’s protection. Users are able to direct anonymous payments through Mimblewimble’s One Sided Payments functionality without having to engage in interactive construction of the transaction with the receiver.
It is important to upgrade to the newest version of the Beam programme in order to access user funds. An Eager Electron wallet that is compatible with version 5.0 has already been made available.
releases currently in the works
Additionally, the Beam team will be hosting a significant number of upcoming releases, including but not limited to the following:
Laser Beam is a technology that enables instant payments, micro payments, and use cases involving money that is “streaming.”
The Web Wallet and Wallet Service API Interoperability is the main point of the DeFi ecosystem. This brings Beam to any browser (as well as interfaces with third-party wallets) without compromising the user’s right to privacy.
Bridges to Ethereum enables the creation of one-to-one pegs between specific ERC-20 tokens and their corresponding representations on the Beam blockchain. Bridge operators want to add other tokens in the near future. The creation of bridges to operate with blockchains other than Ethereum is another possibility being studied.
Wallet Auditability is a feature within the wallet that users can choose to activate in order to make it possible for institutional and commercial users to report transactions in a smooth manner to any third parties of their choosing.
Collateralized Debt Positions (CDP), Securities Token Offerings (STO), Lending, and Other Financial Transactions are All Made Possible Thanks to DeFi Building Blocks on Beam.
Upgrade to the GhostDAG Consensus will provide far better mining decentralisation, faster confirmation, and significantly higher throughput, allowing fees to be kept low despite the increasing demand for Beam and confidential assets.
BiKi.com provides support for hardware wallets.
BiKi.com is a global cryptocurrency exchange that is listed in the Top 20 on CoinMarketCap. The company’s headquarters are located in Singapore. More than 150 cryptocurrencies and 280 trading pairs can be traded on the BiKi.com digital assets platform, which is provided by the company. BiKi.com is committed to offering the cryptocurrency trading platform that is at once the most secure, the most reliable, and the most successful. One hundred percent of the funds from the transaction fees are used toward the buying back and destroying of the platform token known as BIKI. Since it first opened its doors for business in August 2018, BiKi.com has been recognised as one of the cryptocurrency exchanges with the most rapid expansion worldwide. The website currently has over 3 million registered users, 50,000 daily active users, over 2,000 community partners, and 200,000 community members. Investments in the amount of roughly 10 million USD have been made in BiKi.com by a variety of parties, including Huobi co-founder Du Jun, Genesis Capital Zhu Huai Yang, FBG Capital, ChainUP, and others.
