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Private Blockchain

Beam

Beam - scalable and private blockchain

Rating: 3.2

Official contacts
Location: Israel
Web-resources:   Whitepaper Website
Social networks:
Product source tracking: https://github.com/beam-mw/beam
Details Description Risks Full analysis Team

Detailed review

Stage of product development
Concept and the soft for nodes
Roadmap
September, 2018
Testnet, Wallet desktop application
December, 2018
Mainnet
Token description
ICO date
TBA
Token price
N/A
Platform
N/A
Hard cap
4000000
Capitalization of token pool
80000000
Blockchain
BEAM
Token distribution date
N/A
Consensus method
Equihash PoW
Escrow
N/A
ICO currencies
USD , ETH
Bounty camping
N/A
Markets
N/A
Token functions
Token is utility and is used in anonymous transactions.
Tokens distribution
Treasury (20.0%)
Miners reward (80.0%)
Risks
MARKET

- The competitive market of private blockchains

PRODUCT

- The concept does not offer anything new for the industry

- PoW consensus algorithm does not align with the market trends

BUSINESS MODEL

- token model does not far differ from competitors

FINANCES

- High total token pool valuation even considering the special operation model

TEAM

- lack of legal specialists that are recommended for privacy blockchains

- lack of strong corporate experience in distinguished well-known companies

Full analysis
Market

The sphere of private blockchains is very promising and may be considered as a growth point for the blockchain industry itself. We expect a strong growth for projects if they offer something new for the industry. But it must be noted that there are many good projects in the industry that will be definitely competitors for BEAM: platforms like Origo, Skrumble, Alrorang, Orchid Protocol, Polymath, Mainframe and blockchains like Loki, Monero, Zcash, DASH and some others. We see most of these projects more promising than BEAM, so we cannot expect its strong adoption.

Product

Transactions in the ecosystem are private and no transaction information is stored in the blockchain. “Scriptless Script” technology will allow many transaction types including atomic swapping, escrow, and time-locked transactions. Each transaction contains a list of Inputs and Outputs represented by Pedersen Commitments, as well as explicit fees and kernels. Transactions contain non-interactive zero-knowledge range proof to verify that the output transaction value is positive. The infrastructure will avoid computational overhead, making blockchain orders smaller. BEAM will apply Equihash algorithm ensuring broad adoption by existing GPU miners. So, the consensus algorithm is PoW that may be considered as not a good fit for the current reality. In terms of proposed infrastructure, the project does not look as a new game-changer and has no edge on competitors.  Some features are interesting - like eliminating transaction history from blockchain and Mimblwimble protocol. The project development is open and available on Github - the team demonstrate a good activity. The concept is ready now together with node soft available for downloading. The team promises to introduce testnet until September 2018, Mainnet is about to be launched in December 2018.

Business model

We operate according to a Treasury model (no ICO or pre-mining). For each newly mined block, 80% of the block reward goes to the miners and 20% to the Treasury. Investors get their returns from the Treasury over the period of 5 years, on a quarterly basis. Token is utility and is used in anonymous transactions.

Finances

Beam raised 4M USD in two rounds. The project needs an additional 4M USD that is equal to 1% of all coins. BEAM operates according to a Treasury model (no ICO and pre-mining). For each newly mined block, 80% of the block reward goes to the miners and 20% to the Treasury 20%. So the current valuation lies in the range 80-400M USD.  Investors are Lemniscap, Node capital, 1kx and some others.

Team

The team includes 14 members. The project was launched by the team in March 2018 only. All the team mostly has experience in startups and do not have the education from leading universities. CEO Alexander Zaidelson has wide experience in software development in management positions in some of IT companies that are not widely known (total relevant experience is over 20 years). CTO has been working in startups since 2003 and in managing positions since 2006. All other staff is strong in IT and some business streams with the proven record but with no distinguished companies. It may be a signal both of good IT and startup experience and not strong corporate expertise.

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