Beam announces integration of atomic exchanges in version 4.0 of its wallet

Key facts:

Users can make fully decentralized exchanges of Beam from their wallet.

The wallet accepts, at the moment, direct exchanges of BEAM with BTC, LTC and QTUM.

Beam users, cryptocurrency based on the MimbleWimble privacy protocol, can now make atomic exchanges to acquire other crypto assets. The developers of the official Beam wallet, Double Doppler 4.0, announced that the feature is already directly active in the application.

Atomic exchange, also known as Atomic Swaps, is a type of cryptocurrency exchange that takes place without the need for an intermediary. That is, it is a tool that makes the commercialization of fully decentralized cryptocurrencies possible, allowing users to maintain control of their private keys.

The latest version of the Double Doppler wallet makes atomic exchanges possible directly from the application where the funds are managed. In this way, a private individual only needs to access his wallet to acquire bitcoins, litecoins or QTUM in exchange for BEAM, notes Qtum founder Patrick Dai in a tweet.

You can now publish offers and execute Beam<>QTUM swaps right from the Beam Wallet, in a fully decentralized manner, confidentially and without any counterparty risk. https://t.co/KtAknzXhUh

— Patrick Dai (@PatrickXDai) 5 de diciembre de 2019

Beam becomes the first currency based on MimbleWimble that can be traded through atomic exchanges. Alexander Zaidelson, CEO of Beam, said that this wallet update was carried out to provide greater confidentiality and decentralization to Beam's trade. "Atomic Swaps allows an easy and confidential way for users to get on board (in the project) and receive their first Beams without exposing themselves," he concluded.

The Beam team has been active in recent months with updates that have transformed its mining and commercialization. For example, in August the community successfully completed its first hard anti-ASIC fork, which seeks to cancel the use of specialized mining equipment to confirm transactions in that blockchain. They also launched their official wallet for both Android and iOS operating systems. In addition, with these apps it is possible to run a complete node of the Beam blockchain, without compromising battery performance.

This week, the community around Beam celebrates its first anniversary, and announced the creation of the Beam Foundation on November 25. Beam expresses in the foundation's announcement document, which he hopes, that more independent developers will start on the project. "We hope, however, that between 6 and 18 months of the foundation's existence, much of the work will be carried out by the Beam Core Group."