Beam (BEAM)

Beam (BEAM)

Beam (BEAM): a Mimblewimble-style layer one built for private-by-default transfers, confidential assets, and wallet-first tooling.

Updated Apr 27, 2026

Beam (BEAM): Beam Cryptocurrency: A Complete Guide

Beam is a cryptocurrency designed for private transactions and decentralized finance tools. It runs on its own blockchain and uses a mix of older ideas and new tweaks to hide who sends what to whom while still letting the network verify that no one cheats. Privacy is the default for every move on the chain.

Introduction and Name Clarification

Before diving in, it is important to clarify a naming issue. Two different digital assets use the name "Beam." The first is a gaming infrastructure token launched by the Merit Circle decentralized autonomous organization, which migrated to the Avalanche network and focuses on web3 video games. The second asset, and the sole focus of this report, is the original privacy-centric blockchain located at beam.mw. This original project focuses entirely on confidential decentralized finance, operating its own infrastructure to protect user anonymity.

How Beam Started

The project began in early 2018 when a team of technology executives formed a startup to bring the Mimblewimble protocol to the public market. The leadership group brought distinct technical and business backgrounds to the project:

The team wrote the entire protocol from scratch using the C++ programming language. They explicitly avoided copying or hard-forking existing cryptocurrency code, preferring to build custom infrastructure tailored specifically to the new privacy mathematics.

The mainnet officially launched on January 3, 2019, exactly ten years after bitcoin's first block. In a departure from industry trends of that era, the founders launched the network without an Initial Coin Offering. They also refused to pre-mine any coins for themselves. The network started with zero coins in circulation, requiring computers across the world to mine every single token from the very first block. It beat a similar project called Grin to the finish line and became the first real Mimblewimble coin to go live.

Beam launched fairly, with no premine, no ICO, and no insider allocation. The project was developed by the Beam Foundation, a registered non-profit organization based in Singapore.

Why Beam Exists

Regular blockchains show every transaction in public. Anyone can see addresses, amounts, and histories, which bothers people who want financial privacy. When a person uses a public blockchain like Bitcoin or Ethereum, every detail of their financial history becomes permanently visible to anyone with an internet connection. An open ledger acts like a transparent glass bank. Observers can track sender addresses, receiver addresses, and the exact amounts transferred at any given time.

In traditional banking systems, financial records are kept private by centralized institutions. Your bank knows your transaction history, but the general public does not. When Bitcoin was created, it solved the problem of centralized control, but it sacrificed privacy in the process. Every transfer on the Bitcoin network is permanently recorded on a public ledger. In the early days of cryptocurrency, many people incorrectly believed this system was anonymous because it used long strings of letters and numbers instead of real names.

As blockchain analysis tools advanced, it became clear that public ledgers function as surveillance networks. If an observer can link a digital wallet address to a person's real-world identity, that person loses all financial privacy. Their salary, their daily purchases, their charitable donations, and their total savings are exposed to neighbors, corporations, and criminals.

For businesses, this transparency is completely unworkable. A corporation cannot use a public blockchain to pay its suppliers because its competitors could easily monitor those payments to reverse-engineer its supply chain and determine its profit margins. A company cannot pay its employees on a public ledger without every employee knowing exactly what their coworkers earn.

Other developers recognized this flaw and built the first generation of privacy coins to hide user data. However, early networks encountered severe scaling limitations. To hide transaction data, those older networks wrap standard blockchain architecture in heavy cryptographic shields. This approach requires massive amounts of computer storage space. As those older privacy blockchains grow, they become too massive for average users to download and verify, which forces the network to rely on large, centralized server farms to process the data.

Beam was created to solve the privacy problem and the scalability problem simultaneously. Mimblewimble lets most transaction data disappear after it is checked, so the chain stays small and fast. Beam added Lelantus for even stronger hiding and made privacy automatic instead of optional. Later upgrades turned it into a platform for confidential DeFi, where you can trade, lend, or create assets without exposing details. The goal was a usable system that works for everyday payments and more complex finance tools while keeping everything hidden by default.

How Mimblewimble Works

Mimblewimble is the core technology behind Beam. The name comes from a Harry Potter spell that prevents someone from speaking, and the original white paper was published anonymously in October 2016 by someone using the name "Tom Elvis Jedusor" (the French name for Voldemort). In the Harry Potter books, Mimblewimble is a spell used to tie a victim's tongue and prevent them from revealing secrets. The analogy was intentional. The proposed protocol was designed to tie the tongue of the blockchain, preventing it from leaking personal financial data to the public.

The original document outlined the core mathematics but left several technical questions unanswered. Shortly after the document appeared, a cryptography researcher named Andrew Poelstra formalized the concept. He wrote an academic paper proving that the mathematics could function securely in a real-world digital environment.

Here is how it works without getting too technical:

No Addresses: Unlike bitcoin, Beam does not use visible addresses. Instead, two wallets communicate directly when making a transaction.

Pedersen Commitments: Think of these like sealed envelopes containing cash. You hand the envelope to a friend in a crowded room. Everyone in the room can see that a transaction occurred, but nobody except you and your friend knows the exact value inside. The network still needs to verify that nobody is printing counterfeit digital money. It does this by checking the algebraic balance of the transaction. The computers running the network look at the sealed envelopes and calculate whether the inputs equal the outputs plus the network fee. If the mathematical equation balances out to exactly zero, the network confirms the transaction is valid, even though the computers never see the actual numbers hidden inside.

Bulletproofs: To prevent malicious users from hacking the equation by sending negative amounts of money (which could artificially create new coins out of thin air), the protocol uses Bulletproofs. A Bulletproof is a specific type of zero-knowledge range proof. It serves as a mathematical certificate that proves the amount inside the sealed envelope is a positive number greater than zero, without ever revealing what the exact number is.

Cut-Through: Mimblewimble achieves its massive scalability through a feature called "cut-through." On a standard blockchain, if Alice sends five coins to Bob on Tuesday, and later on Wednesday Bob sends those same five coins to Charlie, the network records and permanently stores both transactions. Over time, millions of these overlapping transactions bloat the size of the network.

The cut-through mechanism recognizes that Bob was merely a temporary middleman. When the network compiles a block of transactions, it looks at the overall flow of funds. It deletes the intermediate steps and only records the final state of the money. The network effectively notes that five coins moved from Alice to Charlie, and it entirely erases Bob's involvement from the permanent historical ledger. This aggressive data pruning keeps the blockchain incredibly lightweight.

Additional Privacy Technologies

While Mimblewimble hides the amounts and removes addresses, highly advanced adversaries could still monitor the network in real-time. By watching the exact moment the encrypted envelopes are passed around, supercomputers could attempt to build a transaction graph, tracking the movement of data packets over time.

Lelantus Protocol: To counter this advanced surveillance, the developers integrated the Lelantus protocol. Lelantus creates a massive shielded pool of funds. When a user sends money, the coins are essentially dropped into a vast cryptographic mixing pool alongside thousands of other unrelated transactions. When the receiver withdraws the funds from the pool, the mathematical link between the sender and the receiver is permanently shattered. This makes long-term transaction tracing virtually impossible, providing a massive anonymity set (up to 64,000 decoys) for every user who utilizes maximum privacy settings.

Dandelion++ Routing: Even with hidden amounts and shattered transaction links, a user's physical location could be exposed if a hostile observer tracks their computer's IP address. The network masks the origin of transactions using the Dandelion++ routing protocol. When a user initiates a transfer, the transaction enters a "stem" phase. During this phase, the transaction is quietly whispered from one random node to another, bouncing across the globe without alerting the wider network. After a random number of computer hops, the transaction enters the "fluff" phase. Here, the transaction is loudly broadcast to all computers on the network at once. Anyone trying to trace the IP address will only see the node where the fluff phase began, keeping the original user's location hidden.

Mining with BeamHash III: The network secures its ledger using Proof-of-Work. The specific algorithm is called BeamHash III, a customized version of Equihash designed to be memory-hard. The developers engineered this to ensure decentralization. By making the puzzles highly reliant on computer memory rather than pure processing speed, the algorithm favors standard graphics processing units (GPUs) used in home computers. This prevents massive industrial mining corporations from building specialized machines (ASICs) that could dominate the network.

Beam's Ecosystem Throughout Its History

Beam has grown from a simple privacy coin into a full platform through several hard forks:

Hard Fork Year Primary Upgrades
First 2019 Updated mining algorithm from BeamHash I to BeamHash II
Second 2020 Updated to BeamHash III to optimize graphics card mining
Third 2021 Introduced Beam Virtual Machine for smart contracts
Fourth 2022 Added high-frequency transactions and decentralized file storage
Fifth 2023 Reduced cost to issue custom tokens from 3,000 BEAM to 10 BEAM

These upgrades transformed the network from a simple payment system into a fully programmable financial ecosystem.

Wallets

Beam offers official wallets for all major platforms: Windows, Mac, Linux, iOS, Android, and web browser extension. These wallets store your own transaction history locally and let you pick different privacy levels, from quick online sends to maximum anonymity. Unlike most cryptocurrencies where all transaction histories are permanently stored on the public blockchain, Beam erases historical transaction data to stay lightweight and private. Therefore, a user's transaction history, address book, and metadata are stored locally on their specific computer or mobile phone.

Three Transaction Types

Online Transactions: This is the standard method for transferring value. It offers the lowest network fees. Because the cryptography requires a mathematical handshake to verify the Pedersen Commitments, both the sender's wallet and the receiver's wallet must connect to the internet simultaneously. If the receiver does not come online within 12 hours of the sender initiating the transfer, the transaction cancels automatically, and the funds remain safely with the sender.

Offline Transactions: If coordinating simultaneous connection is impossible, users can execute offline transactions. The receiver generates an address beforehand, and the sender broadcasts funds to the network. The network nodes hold the transaction securely in a pending state until the receiver connects to finalize the handshake. This provides greater convenience but requires slightly higher fees and takes longer.

Max Privacy Transactions: When absolute confidentiality is the highest priority, users utilize this feature. A max privacy transaction forces funds into the Lelantus shielded pool. The system holds funds in the mixing pool for up to 72 hours, shuffling them with thousands of other transactions to guarantee maximum anonymity before delivering funds to the receiver.

Confidential Assets

Users can create their own tokens on the Beam blockchain. These are called "Confidential Assets." Unlike traditional blockchain networks that require complex, bug-prone smart contracts to issue tokens, Beam handles token creation on its base layer. Any user can create a custom digital token by locking BEAM coins into the protocol (originally 3,000 BEAM, now 10 BEAM after the 2023 hard fork). These custom tokens automatically inherit all privacy protections. When a user transfers a Confidential Asset, the transaction looks identical to a standard network transaction, hiding the asset type, amount, and participants.

Smart Contracts and Shaders

To support complex financial applications, the network utilizes the Beam Virtual Machine. Developers can write smart contracts, known as "Shaders," using programming languages that compile to the WebAssembly standard. C++ is currently the primary supported language.

The architecture separates code into two parts for security. "Contract Shaders" handle strict business logic executed on the blockchain. "App Shaders" handle the user interface and run locally on the user's machine. This separation ensures that poorly written or malicious code cannot compromise the main blockchain.

Confidential DEX and Atomic Swaps

The ecosystem includes a Confidential Decentralized Exchange. The exchange uses an Automated Market Maker model, similar to Uniswap, allowing users to trade assets instantly from decentralized liquidity pools. Because it operates on the Beam Virtual Machine, every trade remains hidden from public surveillance.

Furthermore, the official wallets feature built-in Atomic Swap capabilities. An Atomic Swap is a cryptographic smart contract that allows two people to trade different cryptocurrencies directly across entirely different blockchains. If Alice wants to trade Bitcoin for Bob's privacy coins, the Atomic Swap contract ensures that either both parties receive their funds simultaneously, or the trade cancels entirely. This removes theft risk and eliminates third-party brokers. The wallet supports decentralized, peer-to-peer swaps for Bitcoin, Ethereum, Litecoin, Dogecoin, Dash, and Qtum.

Laser Beam Payment Channels

To facilitate high-speed trading, the network includes Laser Beam. Similar to Bitcoin's Lightning Network, Laser Beam allows two users to open a direct, private payment channel between their wallets. They can send thousands of micro-transactions back and forth instantly with zero network fees. When finished, they close the channel, and the network records only the final settled balance on the main blockchain.

Ethereum Bridge

Users can move assets between Ethereum and Beam. When you bridge tokens like ETH, USDT, WBTC, or DAI from Ethereum to Beam, they become wrapped Confidential Assets with privacy features. Wrapped Beam (WBEAM) also exists as an ERC-20 token on Ethereum. When bridging assets from Ethereum, tokens are locked inside an Ethereum Smart Contract and minted on the Beam blockchain as wrapped Confidential Assets.

Nephrite and the Stablecoin System

The DAO oversees the Nephrite protocol, which issues a confidential stablecoin called NPH. Nephrite is a censorship-resistant, non-custodial, confidential, governance-less stablecoin that is overcollateralized by BEAM. Users can open "troves" (collateralized debt positions) using their BEAM as collateral to borrow NPH, which is pegged to the US Dollar.

Nephrite is particularly important because it does not rely on trusting the issuer or any intermediary. Being overcollateralized means users must lock up more value in BEAM than the NPH they borrow, creating a buffer against market volatility. The stablecoin allows users to shield themselves from crypto market volatility without leaving the private ecosystem.

Users who provide liquidity to the Nephrite stability pool earn additional BEAMX rewards, creating a self-sustaining economic loop that incentivizes users to secure the network.

Governance and the BeamX DAO

The project originally operated under the Beam Foundation. To ensure long-term decentralization, the project initiated a complete transition to community control via the BeamX Decentralized Autonomous Organization (DAO).

The DAO uses a distinct governance token called BEAMX. The total supply is permanently capped at 100 million units. Unlike the main network coin, which is mined, BEAMX tokens were minted upon DAO creation and distributed over four years:

  • 36% Liquidity Mining: Rewarding users who lock assets into decentralized applications
  • 20% DAO Treasury: Managed by community voters to compensate developers and finance growth
  • 20% Investors: Reimbursing accredited financial backers who funded initial development
  • 17% Beam Foundation: Retained by founders for smooth transition of power
  • 7% Ecosystem Partners: Used to incentivize outside projects to integrate

Holders of BEAMX possess authority to vote on protocol upgrades, manage treasury funds, and direct ecosystem evolution. When developers wish to change network code, they submit formal improvement proposals. The community stakes BEAMX tokens to vote on changes.

To bridge the gap between absolute privacy and legal compliance, the developers built an opt-in auditability feature into the core protocol. This tool allows businesses and individuals to voluntarily generate specific cryptographic viewing keys. A user can hand a viewing key to a tax authority or auditor, granting them read-only access to specific transaction history. This proves financial compliance without exposing data to the general public.

Supply and Mining Facts

Monetary Units: The maximum supply is exactly 262,800,000 BEAM coins. Approximately 198-200 million are in circulation. To honor the cryptographic roots, the smallest divisible unit is called a "Groth," named after Jens Groth, a computer scientist whose research laid groundwork for modern zero-knowledge proofs. One coin contains exactly 100 million Groths.

Emission Schedule:

Phase Block Reward Total Duration
Year 1 100 coins per block 12 Months
Years 2-5 50 coins per block 48 Months
Year 6 25 coins per block 12 Months
Years 7-129 Halving every 4 years 123 Years
Year 133+ 0 coins Permanent

During the first five years (ending January 3, 2024), 20% of all newly mined coins went to the Beam Treasury. This funded development and ecosystem growth. The treasury distributed monthly: approximately 35% to repay venture capitalists, 45% to compensate the core development team, and 20% to the Foundation. After January 2024, the treasury allocation ended and all new coins go directly to miners. Today, 100% of newly minted coins go to computer operators mining the network.

The first halving after year 1 reduced rewards from 80 to 40 coins. The second halving occurred in early 2024.

Market Performance: The asset trades on several exchanges including MEXC, Gate.io, CoinEx, Kraken, and Uniswap. The coin reached its all-time high of $3.21 on January 28, 2019. As of early 2026, the trading price sits significantly lower, hovering near $0.02.

Regulatory Considerations

The primary challenge facing the ecosystem is the global regulatory environment. Governments and financial authorities have expressed hostility toward anonymity-enhanced cryptocurrencies. Regulators argue that untraceable digital assets bypass anti-money laundering laws, facilitate tax evasion, and hide illicit flows.

Jurisdictions like South Korea and Japan have effectively banned trading of privacy coins. Regulatory frameworks such as the Markets in Crypto-Assets rules in the European Union and Financial Conduct Authority rules in the United Kingdom have pressured major centralized exchanges to delist privacy assets. Platforms like Binance and Coinbase restrict or prohibit trading of privacy-centric coins in specific regions.

This regulatory hostility impacts market liquidity. When major exchanges remove an asset, retail investors find it difficult to buy or sell, which suppresses trading volume.

Upcoming Plans and Roadmap

2026: The Hearty Hadron Phase

The 2026 developments focus on expanding network accessibility and completing the transition to decentralized management:

  • Beam Warp: A proposed sidechain architecture to increase transaction throughput without compromising main Layer 1 security. Sidechains act like parallel highways, taking traffic off the main road. The team expects to move from developer networks to testnet to mainnet launch.
  • Arbitrum Bridge: Deployment of a decentralized bridge connecting to Arbitrum, a major Ethereum Layer 2 scaling solution. This allows capital to move quickly between Ethereum and the confidential environment.
  • User Interface Upgrades: Desktop wallet software receives overhaul using Qt6 framework, modernizing user experience and introducing desktop widgets.
  • Formal DAO Transfer: Website legal copyright and digital assets transfer from the Foundation to the DAO, completing the shift to community ownership.

2027: The Icy Ion Phase

The 2027 roadmap includes the most ambitious technical upgrade: Hard Fork 8.0.

This planned upgrade will introduce full Ethereum Virtual Machine (EVM) compatibility. Currently, developers must write smart contracts in C++ or other WASM-compilable languages. By adding EVM support, developers who write code for Ethereum using Solidity can port their applications directly over with minimal friction.

Additional features for 2027 include a redesigned address system, decentralized crowdfunding platform, native Messenger application for encrypted peer-to-peer communication, and a DEX interface overhaul.

Beam vs. Other Privacy Coins

Beam launched at the same time as another Mimblewimble coin called Grin. Both use the same underlying privacy protocol but differ in approach:

Feature Beam Grin
Structure Corporate with Treasury funding Community-funded
Supply Capped at 262.8 million Infinite
Emission Halving schedule Constant emission
Wallets GUI from launch Command-line focus
Features Confidential Assets, DeFi Minimal implementation

Beam has also been compared to established privacy coins like Monero and Zcash. Monero uses RingCT technology, while Zcash uses zk-SNARKs with optional privacy. Beam's privacy is mandatory and always on.

Compared to older privacy networks, Beam transactions require significantly less data. A Zcash transaction requires roughly 5.3 kilobytes, and older Monero transactions required roughly 3 kilobytes. Standard Bitcoin uses less than one kilobyte. Beam's cut-through mechanism keeps data requirements minimal.

How to Get Started

1. Download a Wallet: Start at the official site beam.mw. Download the wallet for Windows, Mac, Linux, iOS, or Android. The wallet generates a 12-word mnemonic seed phrase. This is the master key controlling all funds. Write these words down and store the paper securely; there is no customer service department that can reset passwords.

2. Secure Local Data: The wallet encrypts local data using a password. Use a complex password of at least 16 characters to prevent hackers from cracking the file if the device is stolen.

3. Acquire BEAM:

  • Mining: Instructions are on the official website if you have a GPU
  • Buying: Purchase on supported exchanges and withdraw to your Beam wallet

4. Bridge from Ethereum: If you already use Ethereum, you can bridge ETH, USDT, WBTC, or DAI using the Beam Bridge. These become Confidential Assets with privacy features.

5. Staking for BEAMX: If you want governance participation, stake BEAM tokens through the DAO Core DApp to earn BEAMX rewards.

Security Note: Only download wallets from the official Beam website. Third-party services exist for swaps or bridges, but the site notes they are not officially endorsed, so verify them yourself. The official code is open source on GitHub.

Available Resources

Official Resources

Community Resources

Third-Party Tools

  • BeamAssets.com: DeFi dashboard and blockchain explorer (community-developed)
  • Beam Bots: Community-governed NFT ecosystem
  • BeamX DAO: https://www.beamxdao.org/

For developers, miners, and users seeking deeper knowledge, the entire codebase is open-source. Active technical support and community governance discussions take place across Telegram, Discord, and the Forum.

Key Technical Terms

Mimblewimble: Privacy protocol that hides transaction details and keeps blockchains small by removing old data.

Proof-of-Work (PoW): Consensus mechanism where miners solve puzzles to process transactions and mint coins.

Pedersen Commitment: Cryptographic method that hides transaction amounts while proving they balance correctly.

Bulletproof: Zero-knowledge range proof that confirms amounts are positive without revealing the number.

Confidential Asset: Token on Beam blockchain that inherits all privacy protections.

Atomic Swap: Direct peer-to-peer exchange between blockchains without middlemen.

DAO (Decentralized Autonomous Organization): Governance where token holders vote on decisions.

Hard Fork: Permanent change to blockchain rules requiring software updates.

ASIC: Specialized mining hardware that BeamHash III resists.

Groth: Smallest unit of BEAM, named after cryptographer Jens Groth.

Summary of Key Facts

  • Launched: January 3, 2019, by Alexander Zaidelson, Alex Romanov, and Amir Aaronson
  • Protocol: Mimblewimble with Lelantus and Bulletproofs
  • Consensus: Proof-of-Work (BeamHash III, GPU-friendly)
  • Max Supply: 262,800,000 BEAM (262.8 million)
  • Smallest Unit: 1 Groth (100 million Groths = 1 BEAM)
  • Current Circulation: approximately 198-200 million BEAM
  • Treasury Period: Ended January 3, 2024 (20% of mining rewards for first 5 years)
  • Emissions: Halving every 4 years, ending in year 133
  • Privacy: Mandatory for all transactions (no optional setting)
  • Governance: Transitioning to BeamX DAO with BEAMX token (100 million max supply)
  • DeFi Features: DEX, bridges, Confidential Assets, Nephrite stablecoin, NFTs, Shaders
  • Wallet Platforms: Windows, Mac, Linux, iOS, Android, Web
  • Next Major Update: Hard Fork 8.0 with EVM compatibility (2027)
  • All-Time High: $3.21 (January 28, 2019)

References
  1. Official Beam website (history, roadmap, ecosystem, wallets, mining) - https://www.beam.mw/
  2. Beam documentation hub (protocol details, privacy features, DeFi, governance) - https://www.beam.mw/docs
  3. Beam ecosystem section (private transactions, confidential assets, atomic swaps) - https://www.beam.mw/docs/ecosystem/
  4. Beam token economics page (supply, emission, treasury) - https://www.beam.mw/docs/ecosystem/overview/tokenomics
  5. BeamX token economics (DAO governance details) - https://www.beam.mw/docs/ecosystem/overview/beamx-tokenomics
  6. Beam GitHub repository (open-source code) - https://github.com/BeamMW
  7. Medium - Beam Privacy Blog (team backgrounds, development updates) - https://medium.com/beam-mw/
  8. BitcoinWiki - Beam Cryptocurrency (technical specifications) - https://bitcoinwiki.org/wiki/beam
  9. The Block - Mimblewimble Explanation (privacy mechanisms) - https://www.theblock.co/learn/249519/what-is-a-mimblewimble-blockchain
  10. Binance Research - Beam Project Analysis - https://research.binance.com/en/projects/beam
  11. Coin Bureau - Mimblewimble Education - https://coinbureau.com/education/what-is-mimblewimble/
  12. BeamX DAO Official Website - https://www.beamxdao.org/
  13. Beam Documentation - Atomic Swaps - https://www.beam.mw/docs/atomic-swaps/
  14. Beam Ethereum Bridges Documentation - https://beamx.gitbook.io/beam-ethereum-bridges/
  15. IQ.wiki - Beam Cryptocurrency (DeFi and ecosystem) - https://iq.wiki/wiki/beam
  16. Crypto Briefing - Beam vs Grin Comparison - https://cryptobriefing.com/beam-grin-nimble-mimblewimble/
  17. Bitget News - Beam Halving Information - https://www.bitget.com/news/detail/12560603847162
  18. CryptoPotato - Mimblewimble Guide (Pedersen Commitments, Bulletproofs) - https://cryptopotato.com/what-is-mimblewimble-the-complete-beginners-guide/
  19. CoinSpeaker - Beam Price Prediction (market data) - https://www.coinspeaker.com/guides/beam-crypto-price-prediction/

FAQ

Can the government shut down Beam by arresting the developers?

No. The code is open source and running on thousands of computers worldwide. The Beam Foundation cannot change the rules even if they wanted to. Hard forks require majority adoption, not CEO approval. You would need to arrest every miner, wallet user, and node operator simultaneously across multiple countries.

Why does Beam make privacy mandatory? Other coins let you choose.

Optional privacy is theater. If only some transactions are private, those stand out immediately. Beam forces every transaction through the same cryptographic shredder so no one can mark you as suspicious simply for using privacy features. The protocol does not negotiate with auditors.

Why does Beam still use mining when newer coins use proof of stake?

Proof of stake puts power in the hands of those who already hold the most coins. Mining lets anyone with a graphics card participate. BeamHash III specifically favors home GPUs over industrial ASICs. The network stays decentralized because no one can buy their way to control.

Is this financial advice?

No. This content is general education only.