Beam BEAM to Qubitica QBIT Exchange

Crypto Pair Details: BEAM to QBIT

Beam BEAM

Beam Mimblewimble is a scalable, fungible, and confidential cryptocurrency based on the Mimblewimble implementation. WHY BEAM? Core features include complete control over your privacy, All transactions are private by default, No addresses or other private information are stored on the blockchain, Superior scalability due to compact blockchain size, Opt-in Auditability, Support online and offline transactions, atomic swap, hardware wallets integration. Governance model No premine, No ICO. Backed by Treasury Establishing a non-profit foundation to govern the protocol after Mainnet launch How does it work? Wallets’ owners create new transaction using secure channel either online or offline Both wallets participate in signing the transaction using Schnorr protocol Wallet sends transaction to node Each transaction contains a list of Inputs and Outputs represented by Pedersen Commitments, as well as explicit fees and kernels. Each transaction also contains non-interactive zero knowledge range proof to verify that the output transaction value is positive Transaction is verified by the node Each transaction is verified with respect to the recent blockchain state which is stored as a Merkle Tree. The root hash of the tree is recorded in block header along with a proof of work. In addition, each node periodically creates compacted history to allow ‘fast sync’ of new and existing nodes. Transaction is added to the mining pool A block is mined every minute and is sent back to the node for verification and distribution. Mined blocks containing the new transactions are sent to the known peers A valid block that is extending the longest chain is accepted as a new Tip and propagated further until full consensus is reached. Fast sync When a new node connects to the network for the first time it can request compacted history containing only system state and blockchain headers. There is no need to retrieve the entire transaction history.

Qubitica QBIT

QUBITICA is a community of more than 1000 developers, IT companies and investors from over 20 nations who want to work together to advance blockchain technology. This community has developed the QUBITICA infrastructure and since May 2018 it has been working on new projects under the associated brands and websites. Subcontracting is organized within the community. This requires the holding of QBIT, the paticipation shares in QUBITICA and all related projects. A long-term goal of QUBITICA is the development of project-related Smart Contract Solutions. These projects are treated as independent tasks and subprojects advertised individually. This allows us to achieve a flexible pipeline adapted to the needs of the market. The general developments in Blockchain will grow disproportionately, which is why it is the right time to find an intelligent solution to accomplish these tasks. What sets QUBITICA apart from an IT company operating in this field? QUBITICA is not an IT company, but an association of like-minded developers, IT companies and investors. IT projects will be handled under future brands and websites, and QUBITICA will be responsible for exchanging ideas, prioritizing projects and managing the shares in QUBITICA. QUBITICA's QBIT is an ERC-20 token that honors achievements. This honor is also comparable to shares. Developers receive QBIT for the implementation of projects and thus a share in the assets of the platform. A developer becomes, so to speak, a miner of shares through the power of his programming. He can now keep this QBIT, which represents his share of the overall project, or exchange it for Ether or USD / Euro. The mining of QBIT as part of the development of QUBITICA itself is no longer possible. This process is complete. QBIT is also the unit through which investors can acquire shares in the projects. To do this, buy QBIT either from the developers, any holder or via the platform. A purchase on exchanges is of course also possible. For new projects under other brands, the introduction of additional tokens is possible. QBIT holders automatically receive shares in this token upon issue.

SOURCE: COINGECKO

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