Victor Ugochukwu · Oct 20, 2020 . 5min read
Privacy Coin Beam releases roadmap with big plans for DeFi
Divided into three parts namely Wallet track, the DeFi track and the Infrastructure track the privacy stablecoin hopes to hit short and long term goals with the roadmap.
By Victor Ugochukwu · Sep 18, 2020 . 6min read
The privacy coin Beam has just released a new roadmap detailing its upcoming plans on protocol infrastructure and products with huge projects lined-up for DeFi sector.
Beam dubs it Confidential DeFi because a large portion of the roadmap has plans for DeFi. Divided into three parts, namely Wallet track, the DeFi track and the Infrastructure track the privacy stablecoin hopes to hit short and long term goals with it.
For the Confidential DeFi track of its roadmap, privacy stablecoin Beam would be integrating two different architectural approaches. These are Scriptless Scripts and Beam Contracts. Combining Scriptless Scripts with Beam’s SBSS subsystem allows the implementation of decentralized and confidential, multiparty trading applications. A useful application of Scriptless Scripts x SBSS is Perpetual Swaps. Beam Contracts which is an offshoot of Mimblewimble protocol for Smart Contracts, is applicable in Confidential Stable Coins, lending, and trading, all confidential and decentralized.
Even more, not just taking their word for it, Beam plans on releasing a series of POC and Testnet versions. This should help in streamlining its decisions as to what is ready to be integrated into the mainnet wallets. Subsequently, Beam has set its timeline between September to December for significant product and infrastructure release in the DeFi Track.
Beam has the following product and infrastructure lined up for DeFi.
Firstly, Beam Contract architecture proof of concept will come with the ability to create contracts with basic scripting capabilities. It will also define clear APIs to use them. Beam says this product is already in early research and design stages.
In order to be able to tap into the ongoing DeFi boom Beam will be building decentralized Eth bridges. It will do this by creating two way SPV clients utilizing Beam Fly Client implementation. Consequently, this function calls information/proofs from each chain.
Again, for Beam as a privacy coin looking into DeFi also plans on implementing oracles. Still undecided as to which particular route to take, it can choose to implement oracles or use SBBS infrastructure to sign and verify the information directly to wallets.
Lastly, among the possible product to be released in DeFi Track are Perpetual Swaps apps. These will utilize SBBS for creating contracts and Laser Beam payment channels for locking collateral, handling funding transactions and settlement.
The rest part of the Beam Roadmap is Wallet which talks about the Beam Vault and Secure Sync. And also the Infrastructure Track with Sidechains proof of concept.
As at press time, BEAM is trading at $0.32 down 96.8% from its all-time high at $10.03.
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Victor Ugochukwu · Oct 20, 2020 . 6min read