Blockchain
A Beginner's Guide to BEAM
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In Brief
Discover everything you need to know about Beam, the BEAM token and its place in crypto gaming.
The world of crypto gaming is constantly evolving, with new projects and technologies emerging. One name gaining traction in this space is BEAM. BEAM is a native token that fuels the Beam ecosystem, where gamers and developers collaborate to shape the future of the industry.
In this beginner’s guide, we'll explore the BEAM token's role within the network, its functionalities in crypto gaming, and the unique advantages it offers for both players and developers.
The Beam Gaming Ecosystem
Beam (BEAM) is a gaming-focused blockchain recently launched by Merit Circle. Merit Circle is a decentralized autonomous organization (DAO) that supports and promotes Web3 gaming platforms and initiatives. Beam embodies a thriving community-driven ecosystem where gamers and developers come together to shape the future of the gaming industry. Whether you're a visionary developer poised to craft the next gaming sensation or an avid player in pursuit of the best Web3 gaming experiences, Beam presents a powerful, flexible solution.
Currently, Beam functions as an Avalanche subnet. Beam is its own blockchain, and part of a dynamic interconnected network. The beam ecosystem benefits from the scale, speed, and security of the Avalanche protocol. Beam also has the capability to function autonomously, prioritizing its distinctive focus on gaming applications.
Before You Get Started
Before you explore BEAM in more detail, it’s important to remember that you can manage BEAM using Trust Wallet.
You can download Trust Wallet as a mobile app, or you can install the Trust Wallet Extension for your desktop browser.
Beam Tools and DApps
The Beam ecosystem is enriched by a variety of tools and decentralized applications (DApps). Here's a glimpse into the essential tools and DApps that empower both gamers and developers:
Beam Companion App
The Beam Companion App serves as your trusted gaming ally, enabling you to seamlessly manage your in-game assets on the go. Whether you're sending items to friends, or staying updated on your favorite games, the Companion App ensures you're always in control of your gaming journey.
Sphere Market
Sphere Market is your one-stop marketplace for gaming assets, offering a user-friendly platform for buying, selling, and trading digital treasures. As the backbone of the Beam SDK, Sphere empowers game developers to create in-game marketplaces like never before, revolutionizing the gaming economy.
Beam Hub
Beam Hub is your gateway to the gaming universe, offering a diverse catalog of games catering to every preference. With the ability to host campaigns and embark on quests, Beam Hub elevates the gaming experience and emerges as a leading gaming hub within the Beam ecosystem.
Beam Swap
Beam Swap facilitates seamless asset swaps on the Beam network, giving you a quick and efficient platform for exchanging digital assets. Whether you're converting tokens or diversifying your portfolio, Beam Swap streamlines the process and ensures a hassle-free experience.
Beam Bridge
Beam Bridge bridges the gap between different blockchain networks, enabling seamless asset transfers and interoperability. Whether you're moving assets between chains or exploring new opportunities, Beam Bridge opens doors to a world of possibilities within the blockchain ecosystem.
What is The BEAM Token?
The BEAM token is the native crypto for the Beam network. The Beam network is a gaming network empowered by the Merit Circle DAO. All transaction fees on the Beam network are paid in BEAM. With the full transition to the Proof of Stake (PoS) validation model, BEAM tokens also serve as staking assets. Under the platform's staking rules, BEAM holders can delegate funds to their preferred validator node and receive a portion of the block rewards generated.
In addition to its role as a transactional and staking currency, the BEAM token holds significance within the governance structure of the Merit Circle DAO. Initially, the DAO maintained its own crypto token, MC, used for organizational governance. Upon Beam's launch, however, a migration plan was announced, transitioning MC tokens to BEAM at a fixed ratio of 1 MC to 100 BEAM. This migration window extends until October 26, 2024, after which BEAM will assume governance functions, replacing MC.
The BEAM crypto was introduced on October 26, 2023, with a total supply of nearly 63 billion, and more than 44 billion already in circulation. It operates under a supply-capped model, with its maximum supply set at the same number as its total supply. No additional BEAM can be minted under the governance of the Merit Circle community.
As the native cryptocurrency of the Beam network, BEAM facilitates transactions and interactions within the ecosystem, including transfers of assets and interactions with smart contracts. Beyond its utility as a gas token for network operations, BEAM plays a crucial role in the governance of the Merit Circle DAO, empowering token holders to participate in shaping the future of the gaming industry through decentralized governance mechanisms.
The BEAM crypto is available on Trust Wallet on 2 blockchain networks, including Ethereum and the BNB Smart Chain.
Beam Advantages for Players and Developers
Beam stands out in the crypto gaming landscape by offering a compelling set of advantages for both players and developers. Here's a breakdown of what makes Beam unique:
For Players:
True in-game asset ownership: Beam empowers players with real ownership of their in-game items and digital collectibles. Unlike traditional games, these assets aren't locked within a single game. The Beam Companion App enables players to manage, swap, and potentially sell, these assets on marketplaces like Sphere, fostering a sense of investment and opening doors to potential revenue streams.
Frictionless onboarding: Beam leverages OpenFort to streamline account creation within games. Players can jump right into the action without any hurdles, making Beam a more accessible entry point into the world of crypto gaming.
Early access to innovation: Beam cultivates a developer-friendly environment, attracting studios building the next generation of blockchain games. Players can be among the first to experience these cutting-edge titles and explore the possibilities of blockchain integration within gaming.
Seamless interoperability: Beam isn't confined to a single blockchain. Their multi-chain future, with bridges to networks like Avalanche and Immutable zkEVM, allows for wider asset utility. This interoperability opens doors for richer and more connected gaming experiences.
For Developers:
Beam SDK: Beam provides a robust Software Development Kit (SDK) packed with tools and resources. This empowers developers to effortlessly integrate Beam functionality into their games, simplifying the process and allowing them to focus on creating engaging gameplay experiences.
Focus on developer success: Beam prioritizes developer success. Their ecosystem offers extensive resources, tutorials, and support to help studios navigate the complexities of blockchain integration within games. This lowers the barrier to entry and fosters a more vibrant development community.
A growing gaming ecosystem: Beam Hub acts as a central platform for players to discover new games, participate in tournaments, and connect with a passionate gaming community. This provides developers with a built-in audience for their games and fosters a network effect that can fuel the growth of the entire Beam ecosystem.
How to Deposit BEAM to Your Trust Wallet Address
You can deposit BEAM from another crypto wallet address or from a centralized exchange. Here’s how:
Select “Receive” from the home screen.
Search for “BEAM” and select it. BEAM is available on Trust Wallet on the Ethereum network and the BNB Smart Chain.
From here you have two options. You can either:
Copy your deposit address and use that on your exchange account or other crypto wallet to send funds to.
Use the “Deposit from exchange” option to deposit crypto seamlessly from your exchange account.
Remember that in addition to BEAM, Trust Wallet lets you manage and interact with 10M+ crypto assets across 100+ blockchains. Download the latest version of Trust Wallet today.
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Note: Any cited numbers, figures, or illustrations are reported at the time of writing, and are subject to change.