We encounter new innovations in the digital gaming world every day. However, some projects manage to stand out from the rest. For those wondering what Beam Coin is, this project brings blockchain technology together with games. We will take a closer look at how this project, which makes the work of game developers much easier and aims to maximize the experience of the players, succeeded. Why is Beam Coin special and where does its potential to move the gaming world forward come from? It’s all in this article!
What is the Beam Coin Project?
The Beam coin project is an ecosystem created to shape the future of gamers and developers . Offering powerful and flexible solutions for game developers, this project focuses on meeting the expectations of those looking for a good gaming experience via the blockchain. It states that it offers developers comprehensive APIs and SDKs to maximize the potential of games. Also known as Beamx , this project is also supported by the Avalanche network.
Developing blockchain-based games is much more complex than developing traditional games. Integrating blockchain functions such as smart contracts and decentralized asset management requires specialized knowledge and skills. Developers have to be familiar with protocols and technologies that can be tedious and time-consuming. Beam embraces these problems with its solutions for developers.
Additionally, high transaction fees can negatively impact user engagement with a dApp and limit its user base. Realizing this, Beam developers have addressed this issue with a low transaction fee policy, enabling micro-transactions and high-volume interactions, enabling diverse and innovative applications.
We mentioned that the Beam project, which is dedicated to simplifying the complexities of game development, is actually an ecosystem. As can be seen below, there are different formations within this ecosystem.
Beam Companion App: A mobile application that allows players to easily manage their in-game assets wherever they are. With this application, players can show, modify and securely store their in-game assets.
Sphere: Sphere is a bit of a marketplace for NFTs, where many game items that have been converted into NFTs are traded.
Beam Swap: Beam Swap is a decentralized exchange. Thanks to this exchange, cryptocurrency exchanges are made and liquidity pool transactions can be made.
Beam Bridge: Beam Bridge allows different blockchain networks to be connected, enabling seamless asset transfers and interoperability.
Beam Hub: Beam Hub is a platform that appeals to Web3 game enthusiasts. It includes Web3 games and game-specific guides and reward programs. With this platform, players can play games, read guides written about web3 and games in general, gain in-depth knowledge, and earn rewards by following certain steps.
After answering the question of what is Beam coin, let’s now take a look at what the cryptocurrency created for this project is used for.
What is BEAM Coin Used For?
BEAM coin is the native cryptocurrency of the Beam project. Although it is used as BEAM coin, this project has not been developed on its own blockchain. Therefore, it is not actually a coin, but a token. BEAM token is required to interact with the Beam network. Payments for transactions made on the Beam platform are made with this cryptocurrency.
BEAM token is used in governance processes. Those who want to have a say in the future of the project must hold Beam tokens for this. BEAM is also required to perform trading transactions on the platform’s exchange. BEAM can also be used for staking transactions. This cryptocurrency, which is also used for the operation of smart contracts on the Beam network, is a key point for perfecting the gaming experience.
After looking for an answer to the question of what is Beamx token, it is also useful to look at a few small technical details about this crypto.
Which Network is Beam Coin on?
Beam coin is developed on the Ethereum network and is designed as an ERC-20 token. It uses Avalanche as a subnet.
What is the Beam Coin Supply?
Beamx coin is a cryptocurrency designed with a limited production amount. When we look at the supply of Beam coin, there are a total of 62,434,008,330 units of this digital asset.
How to Mining Beam Coin?
One of the questions people are curious about this project is how to mine Beam coin. In fact, this is not possible. Because the Beam project does not use the Proof of Work consensus mechanism. However, those who contribute to the project security as validators by staking BEAM are rewarded.
How Does Beam Coin Work?
There are certainly those who wonder why Beam is different. The biggest reason for this is that Beam is compatible with the Ethereum Virtual Machine (EVM) , a highly advanced computing emulator that supports smart contract coding in Solidity . Additionally, Beam operates as a subnet on the Avalanche network.
It is this cross-platform compatibility that allows developers to seamlessly port Ethereum-based applications to Beam and help them design compelling games. For those who have previously developed on Ethereum, the transition to Beam is said to be painless.
Beam operates under a reputation-based consensus method called Proof of Authority (PoA) . This consensus management, which ensures that every entity on the network is verified and trusted, is a strategic move to ensure quality and security. Transactions are trusted to a select group of respected authorities. The PoA model emphasizes the value of the reputation of validators, and each of these validators is meticulously selected based on their trustworthiness. This allows for a highly scalable system where blocks and transactions are verified by pre-approved participants who act as system moderators. These details are behind maintaining the integrity of the blockchain.
Those wondering how Beam coin works can take a look at the “Beam whitepaper” document.
Whose is Beamx Coin?
Beam was launched in 2023 by an ecosystem called Merit Circle , which was founded in 2021. There are two founders behind Merit Circle : Marco van den Heuvel and Tommy Quite .
Marco van den Heuvel is the co-founder and CEO of Merit Circle. He graduated from the Arnhem Business School in 2019 with a BA in International Business and spent a year at San Francisco State University in International Business. He founded HappyMod, a brand that provides community and marketing management services for blockchain companies, and also served as CMO at the company. Before Merit Circle, he founded CMMC Start, a company that provides community management and marketing consulting services for blockchain startups.
Tommy Quite is the CFO and co-founder of Merit Circle. He studied Contemporary Chinese Business and Language at Beijing University of Technology and HU University of Applied Sciences Utrecht. He was an advocate for the Bitcoin Foundation from 2014 to 2018. He later worked as a community manager at a company called Civic Technologies and then co-founded Caltrix Capital and Flow Ventures.
Beam Coin Future
Beamx coin brings together the blockchain and gaming industries, making the opportunities offered by Web3 technology accessible to both gamers and developers. In particular, its low transaction fees and flexible infrastructure can improve the user experience and make this project sustainable in the long term.
The future of Beam coin can be shaped by the convenience it provides to developers, especially with the APIs, SDKs and decentralized finance (DeFi) solutions it offers in the gaming ecosystem. The project’s support by the Avalanche network strengthens the technical infrastructure of the Beam ecosystem, while also offering significant advantages in terms of transaction speed and security. This could allow the project to stand out from other blockchain-based gaming platforms and gain a permanent place for itself.
In addition, different parts of the ecosystem such as Beam Companion App, Sphere, Beam Swap, Beam Bridge, and Beam Hub expand the scope of services offered by the project. Features such as NFT trading, decentralized exchanges, and seamless asset transfers between different blockchain networks have the potential to expand the Beam ecosystem beyond the gaming world. This could contribute to the Beam project gaining a strong foothold in both the gaming world and the overall Web3 ecosystem.
Considering all these details, it is possible that this project will attract the attention of more game developers in the future and grow its user base. In addition, these details may help accelerate Beam coin price movements over time. Beam, which enables creative and innovative applications, can become a major player in shaping the future of games. The long-term success of the project is closely related to the growth rate of the ecosystem, the user adoption rate, and the contributions of the developer community. With these dynamics in the sector, Beam coin can become an indispensable part of the gaming world in the future.
Which Exchanges Have Beam Coin?
The ICRYPEX cryptocurrency exchange, which offers its users a safe and fast cryptocurrency trading experience, can easily perform BEAM coin purchase transaction. ICRYPEX is a platform that investors safely prefer with its user-friendly interface, low transaction fees and strong infrastructure. Offering an ideal option for those who want to add BEAM to their portfolio, ICRYPEX promises a perfect experience for both experienced investors and beginners. With advanced security measures, instant transaction speed and 24/7 live support service, you can benefit from the advantages offered by ICRYPEX in your Beam coin trading transactions.
