Beam is a privacy-focused cryptocurrency that leverages the Mimblewimble protocol to provide confidential and scalable transactions. The platform aims to offer a secure and user-friendly experience for individuals seeking financial privacy.

Project Function

Beam functions as a privacy-centric blockchain, emphasizing confidential transactions and minimal data storage. The platform utilizes the Mimblewimble protocol to enhance scalability and privacy.

Token Utility 

The BEAM token serves as the native currency of the Beam network, with the following utilities:

Transaction Fees: Used to pay for transactions on the BEAM network.

• Staking: Holders can participate in the network's Proof-of-Stake consensus mechanism to secure the blockchain and earn rewards.

• Governance: Token holders may have the ability to vote on protocol upgrades and other governance matters.

About The Founders

BEAM was co-founded by:

• Alexander Zaidelson, the Co-Founder and previous CEO of Beam, played a pivotal role in Beam's inception and early development. With a background in software development, he previously founded Nareos, a peer-to-peer file-sharing company, and Wikitup, a semantic search engine acquired by iMesh.

• Alex Romanov, the Co-Founder and CTO of Beam, with two decades of experience in software engineering and system architecture, has led the implementation of Beam's core technologies, including the integration of privacy protocols like Lelantus-MW and Dandelion++.

• Amir Aaronson, the Co-Founder and COO of Beam, previously held Chief Operating positions in multiple blockchain and web2 companies such as Playtness, a fitness tokenization platform and Fitch, a consumer electronics company.

Risks of BEAM

Like an investment in other crypto assets, there are some general risks to investing in BEAM. These include: (i) volatility risk and liquidity risk, (ii) short history risk, (iii) demand risk, (iv) forking risk, (v) code defects, (vi) regulatory risk, (vii) electronic trading risk, and (viii) cyber security risk. For additional information of these and other general risks associated with crypto assets and Uphold’s platform, please refer to the Risks Specific to Holding Digital Assets statement.

In addition to these general risks, an investment in BEAM is subject to the following specific risks:

BEAM operates using its own blockchain and associated smart contracts, which have an association with vulnerabilities and security breaches. Despite undergoing successful audits by well-regarded third-party entities, it is essential to acknowledge the existence of inherent risks in custom blockchain code and smart contracts.

We emphasize that this Crypto Asset Statement is not an exhaustive description or summary of all risks associated with BEAM. Investors should conduct their own research and perform their own assessment before trading any crypto asset to determine the appropriate level of risk for their personal circumstances. The BEAM community and Beam founding team are not under any legal or regulatory obligation to disclose material information to the public regarding its activities. Holders of BEAM have no recourse to the BEAM community, Beam founding team, or Uphold if BEAM declines in value for any reason. Changes to applicable law may adversely affect the use, transfer, exchange, or value of any of your crypto assets, and such changes may be sudden and without notice.

Uphold’s Evaluation Process

Prior to listing BEAM on the Uphold Platform, Uphold performed due diligence on BEAM and determined that BEAM is unlikely to be a security or derivative under relevant securities legislation. Uphold’s analysis including reviewing publicly available information on the following:

• The creation, governance, usage, and design of BEAM, including ensuring the source code is open-source, audited and peer reviewed, security, and roadmap for growth in the developer community.

• The supply, demand, maturity, utility, and liquidity of BEAM.

• Any marketing materials put forward by the BEAM social team including on, Twitter, Medium blog, LinkedIn posts, Discord and Telegram channels.

• Material technical risks associated with BEAM, including any code defects, security breaches and other threats concerning BEAM and its supporting blockchain (such as the susceptibility to hacking and impact of forking), or the practices and protocols that apply to them.

• Legal and regulatory risks associated with BEAM, including any pending, potential, or prior civil, regulatory, criminal, or enforcement action relating to the issuance, distribution, or use of BEAM.