At 19:00 UTC right now privateness coin beam finished its to start with scheduled tough fork at block 321,321.
Launching on bitcoin’s tenth birthday in January this year, beam is 1 of the to start with two implementations of the Mimblewimble privateness protocol. Beam’s fork altered the mining algorithm owing to ASIC mining problems as laid out in its highway map.
Talking with CoinDesk, CTO Alex Romanov explained beam is on observe with its original goals. Romanov explained the algorithm manufactured beam extra efficient and scalable:
“The new algo, BeamHash II is about 30% extra efficient then Beam Hash I. In the fork we have also included aid for Laser Beam (Lightning Community version in Beam). We have also included mandatory proof of function for SBBS messages and mandatory cost depending on amount of outputs and kernels.”
Beam’s tough fork in opposition to ASICs, or software-precise built-in circuits, mirrors equivalent initiatives by other cryptocurrencies, like privateness coin monero which tough forked in March more than equivalent problems.
Some cryptocurrency developers see ASICs as an unfair benefit for other end users and often, in the title of decentralization or democratization of mining, have pushed for algorithms day to day laptops can run.
Beam’s tough fork happened mere hours immediately after a modest donation from beam to grin, a frenemy privateness coin which shares the same Mimblewimble protocol. Romanov explained the groups are good friends and, interestingly, they have no contact with other privateness coin groups.
Likely forward, Romanov says the foundation is concentrating on the buyer aspect next a miner-focused tough fork. On the to-do-checklist involves atomic swaps, private asset advancement, hardware wallet integration with Trezor, and normal wallet advancement.
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