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Privacy-Focused Beam Has A Successful Scheduled Hard Fork Against ASIC Miners

Hard Fork against ASIC miners
Beam is on track
Beam price sees an increase of over 11%
The first scheduled hard fork at block 321,321 on August 15 of privacy coin Beam has been a success as shared by Beam with the community on Twitter.

Launch earlier this year, on the tenth anniversary of Bitcoin, Beam is one of the first implementations of the Mimblewimble protocol. The project didn’t have an ICO, and is backed by a Treasury and a designated non-profit foundation.

Beam CTO Alex Romanov said the algorithm made beam more scalable and efficient.

“The new algo, BeamHash II is about 30% more efficient then Beam Hash I. In the fork we have also added support for Laser Beam (Lightning Network version in Beam). We have also added mandatory proof of work for SBBS messages and mandatory fee depending on the amount of outputs and kernels,” he said.
The hard fork was to adjust the mining algorithm because of ASIC mining concerns. An application-specific integrated circuit (ASIC) is an integrated circuit customized for a particular use that outperforms CPUs, GPUs, and FPGAs in speed and efficiency.