CoinGecko Beam App Officially Launches to Improve Blockchain and Crypto Transparency
How CoinGecko’s Beam App Will Improve Transparency In The Crypto Space
Earlier this week, CoinGecko launched a new feature called Beam. The objective of Beam is to improve communication and promote transparency in the cryptocurrency industry. CoinGecko is a website that blogs about and ranks blockchain projects
In the accompanying press release, CoinGecko revealed that is had collaborated with 12 exchange platforms and 87 blockchain projects to develop Beam. As mentioned earlier, Beam will act as a communication media for all parties in the cryptocurrency and blockchain industry.
Using the app, administrators of cryptocurrency trading platforms and blockchain projects will communicate directly with the members of the crypto community. Furthermore, users can follow specific topics, a feature that allows them to get regular notifications without the need to scroll the platform or the internet. The direct interaction between the admins and investors eliminates the risk of fraud that is currently a common occurrence in the crypto space.
Beam is available on multiple platforms, including Android, iOS and web. During the inauguration, TM Lee, the CEO of CoinGecko, said that the company aims to increase transparency and communication in the crypto industry. He added that the flurry of misinformation has made it hard for investors to tell genuine projects apart from fraudulent schemes.
The bull run of 2017 resulted in the creation of hundreds of cryptocurrency projects. In fact, it is estimated that the crypto market currently has in excess of 1,600 different projects. Although most of these projects are legitimate, a significant number are scams looking to defraud beginners. The introduction of Beam will undoubtedly provide a solution to this challenge.
According to Curis Wang, the CEO of Bitrue crypto exchange, the launch of Beam will help investors to identify projects that are worth investing in as well as those they should avoid. On the other hand, Thomas Schouten, the head of marketing at Lisk, lauded CoinGecko for setting an industry precedent that will enhance the visibility and transparency of platforms within the crypto space.
Despite existing for a few days, Beam has already been adopted by notable institutions in the crypto sector such as Lisk, Bitrue, CoinMarketApp, Monero, and Huobi and many others.