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Beam’s TestNet is up, and it’s a game changer!

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Beam Coin

The Beam project announced months ago that its new Testnet and graphical wallet would be online at the end of last month (September 2018) and they have delivered! Let’s have a look at Beam’s special features and why this is an event worth celebrating in the cryptosphere.

Beam is not the cryptocurrency project with the highest profile in the cryptosphere. But you should be aware of it because of its unique features and the fact that it’s moving forward at a pace that can only be rivaled by Cardano, Tron or Stellar (for example). To be more specific: it was supposed to get its Testnet online last month. It did, and it’s working perfectly unlike so many other crypto Testnets that have turned out to be a complete disaster.

Let’s start with the basics. Beam is a blockchain project that aims to be perfectly private and scalable. For this, it relies on its very own blockchain, and in a new protocol called Mimblewimble. This technology allows for many features that are unique in the cryptocurrency world, and it just makes the new Testnet launch more exciting.

The whole point with Beam is to have a digital asset in which you have full control over your very own privacy because every single transaction is private by default. It means that the blockchain’s ledger keeps track of every transaction in the network (which is the hallmark of any blockchain technology), but in Beam’s case, no addresses or other private pieces of information are kept by the ledger, thus making you invisible as a user.

Another interesting feature of this project is the compact size of its blockchain. This enables excellent scalability in terms of blockchain size.

It’s a very young project as it came online only last March. But it came out stepping strong, issuing a set of milestones that were set to be accomplished very quickly, and they’ve been delivered on time.

The first step was the internal POC, which would feature a fully functional node and CLI wallet. The next step was scheduled for this month. It was to be the Testnet 1.0 release and the graphical wallet and, once again, it was delivered on time.

The next milestone is the Main Net full launch next December and, if things keep going as they have so far, we have no doubt it will be successful.

This kind of performance is remarkable. Even Tron or EOS was not able to launch a Testnet as quickly as Beam, and, while Tron’s was a success, EOS’ was a disaster (it works now, but it had to overcome several difficulties along the way).

As things stand right now, Beam has this to offer you, according to its project GitHub roadmap: The current wallet is functional and fully supports confidential transactions. It can generate and store encryption keys, so transactions remain entirely private.

The Equihash miner’s computation difficulty is being adjusted periodically to avoid inflationary pressure and to keep the network stable. The wallet is supported in Windows, Mac, and Linux. Batch Bulletproofs are working fine (this means that zero range proofs are currently perfectly efficient). You have a secure BBS system to enable offline transactions. And those are just the essential features.

We encourage you to keep yourself informed about Beam’s news because it’s one of the most exciting new projects in the cryptosphere. GlobalCoinReport will, of course, keep you updated on any new development about this and many other exciting projects!

To learn more about the project, visit www.beam-mw.com or join the Telegram group at t.me/BeamPrivacy.

For the global insights every crypto trader must have, apply for Elite membership!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Crypto

BNB Price Surges Past $300, Faces Crucial $339 Hurdle: What’s Next?

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BNB price has noted significant gains over the past few days, surging past the psychological resistance of $300. The native cryptocurrency of the Binance Exchange has surpassed Solana to regain its position as the fourth-largest cryptocurrency by market cap. The digital currency has been rallying lately with a 7-day profit of more than 15%. Additionally, BNB has clocked a phenomenal gain of 38% in the month to date.

Binance Coin Outlook

BNB price has been on a strong bull run for the past week, breaking out of its consolidation. Even so, the asset has experienced a correction in its uptrend over the past 24 hours but remains above the crucial level of $300. BNB’s total market cap has decreased by 4% over the past day to $48 billion, while the total volume of the asset traded over the same period dipped by about 15%.

Over the past year, Binance Coin has had to cope with Fear, Uncertainty, and Doubt (FUD)  on the back of the regulatory troubles of its underlying exchange. Earlier, the BNB price touched a low of $223.50, a few days after its former CEO, Changpeng Zhao, pleaded guilty to money laundering charges. However, the cryptocurrency has managed to rebound 46% in value since then.

The recent price rally has been associated with various positive developments in the Binance ecosystem, including the Introduction of the Isolated Margin Auto-Transfer Mode. This feature enables…

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Altcoins

Solana Price Surges Beyond $100, Dethroning Ripple and BNB To Secure Fourth Place

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Solana price performance in recent times has been remarkable, surpassing Ripple and Binance Coin to become the fourth-largest cryptocurrency by market cap. The SOL price breached the critical level of $100 for the first time since April 2022 over the weekend to imbue optimism among investors. However, the altcoin has corrected by 7%, suggesting that the market is overheated. At the time of writing, the ‘Ethereum killer’ was trading slightly lower at $111.60.

SOL Outlook

Solana price has made a significant recovery over the past few weeks, climbing above the psychological level of $100. The altcoin has been one of the best-performing assets this year, extending its year-to-date gains to more than 1,025%, with more gains recorded in the past month alone. However, even with such growth, analysts have noted that Solana has a bleak chance of topping its ATH of $260.

The reason behind this is the increase in supply relative to its value. In November 2021, when the Solana price hit its all-time high of $260, its total market capitalization was around $78 billion. Despite the value of the crypto asset being less than half of what it was at the top, its market cap is currently hovering near $50 billion.

This has been brought about by the increase in the Solana supply by more than 100 million SOL over the past two years. According to some analysts, for the altcoin to retest $260, its…

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Altcoins

Solana Price Skyrockets to 20-Month Peak Amidst Memecoin Frenzy

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Solana price has noted significant gains over the past few weeks, climbing to its highest level since April 2022. The ‘Ethereum Killer’ almost topped the crucial level of $100 on Friday, before pulling back slightly. The asset’s recent surge has catapulted Solana’s total market cap to $39.6 billion, ranking 5th after and above BNB and XRP, respectively. Solana has jumped by more than 22% in the past week and more than 80% in the month to date. At the time of writing, SOL price was trading 0.90% lower at $93.10.

Catalysts Behind SOL’s Rally

Solana price has been on a strong bull run over the past few days, rocketing to its highest level in 20 months as the network benefits from the substantial activity and strong interest in memecoins. The SOL token, the native digital asset of the high-performance blockchain platform Solana, has shown some serious strength over the past few weeks, outperforming all the altcoins in the market.

The recent surge in the Solana price has been linked to heightened on-chain activities on the Solana blockchain. Notably, the ongoing hype for the blockchain’s speedy transactions, cheap fees, and a lottery of meme coin issuances has buoyed SOL’s on-chain activity. Metrics have revealed that Solana has been the strongest draw among on-chain traders, with trading volumes and network fees outperforming Ethereum- the largest altcoin by market cap.

Cited figures provided by DeFi aggregator DeFiLlama

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