BeamX Promises to Bring Privacy Capabilities to DeFi

Beam, the crypto project utilizing Mimblewimble privacy tech, has announced the imminent launch of a confidential defi network called BeamX. As a privacy-focused defi project backed by an established team, BeamX will give developers the opportunity to build dApps that preserve the confidentiality of users’ operations and assets.

Earlier this year, the Incognito privacy project unveiled pKyber, which enables users to conceal their activity from the public Ethereum ledger within the Kyber Network. If projects like BeamX, pKyber and Enigma, succeed, they could push defi into a new stratosphere, assuaging the concerns of institutional users who want to keep their balance statement confidential.

Timeline of Ethereum, Kyber-network