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Privacy Cryptocurrency Beam Experiences Blockchain Stoppage

To update (14:04 UTC, 21 January 2019): Beam has now announced: "The correction was performed on Github, we will carry out additional tests, we will release the tracks in the next few hours, thank you for your patience."

His page GutHub places the error in a bug that concerns the "generation of improper blocks when cutting old new UTXOs".

The Beam cryptocurrency, recently released on privacy, reported this morning that its blockchain is going through technical difficulties.

Beam announced information on his official Twitter account on Monday, saying his network "stopped at block 25709" and was investigating the matter.

In the last hour, the project tweeted an update saying:

"Identified and solved problem found .The funds are safe. Committed to GitHub in the next hour." Binary and detailed Post-mortem later today. "Thank you for your patience and stay tuned."

At its January launch, Beam became the first cryptocurrency based on Mimblewimble, a protocol that makes transactions confidential and practically untraceable.

Since then, however, Beam has faced some technical problems. On January 9th, the team discovered a "critical vulnerability" in his software wallet and asked users to immediately uninstall the app wallet and download a patch version from their website again.

While the critical bug was fixed, could have endangered user funds by allowing attackers to change transactions and subsequently send funds directly into their wallet, the Beam developers said at the time.

Last week, a second privacy cryptocurrency based on Mimblewimble – Grin – also he went live. While he saw above interest From cypherpunks, sources told CoinDesk that several VC funds were planning to extract cryptography.

Broken chain image via Shutterstock

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