What isPRIZM (PZM)?

Prizm is computer software created for recording short messages in the blockchain and recording information about changes in the balances of project users. A peer-to-peer crypto network, PRIZM aims to be a fully decentralized and automated system with a native blockchain.

According to its whitepaper, for the entire e-economy to be based on a fully decentralized peer-to-peer solution, the system must be able to process transactions securely, quickly, and efficiently, in the number of thousands per hour or more. In addition, the system should motivate people to participate in network security and scale globally with the minimum consumption of resources. Also, the system should be able to work on a wide range of devices, including mobile. Prizm meets these conditions with paramining, transparent forging, and other security measures described below.

Also, Prizm aims to offer the following features:–

• Paramining: This process is the platform's key advantage. Paramining is a three-factor method of creating new coins by all users simultaneously.

• Transparent Forging: Prizm can handle up to 367,200 transactions per day in its current state. The transparent forging allows transactions to be processed almost instantly, significantly increasing this limit.

• Network node: Network node in Prizm is any device with the PZM software that makes a transaction or blocks data into the network.

• Open Source: Any developer can implement the Prizm in his project.

• Blocks: The PZM Ledger (Ledger of transactions) is built and stored in a linked series of blocks known as the blockchain. This workbook offers a permanent record of the transactions that occurred and maintains the order in which the transactions happened.

• Speed: The average block generation time and the average transaction processing time for Prizm is eighty seconds.

• NEXTwallet: Prizm implements a smart wallet as part of its design: all accounts are stored on the network with personal keys for each possible account address.

• Security: Curve25519 cryptography provides a balance of security and the required processing power along with the more commonly used SHA256 hashing algorithms.

• Prizm Aerial: A 3-D visualization software for the PRIZM blockchain network.

  PRIZM (PZM) is the native token of the platform. PZM was created as a cryptocurrency 2.0 - response to Bitcoin. The token is a proof-of-stake cryptocurrency based on the NEXT wallet, built on Java with an open-source code. The proof-of-stake algorithm doesn't depend on any implementation of the traditional concepts and is resistant to the so-called "nothing at stake" attacks. In the "nothing at stake" attack, forgers try to build blocks on top of all the forks visible because it costs them almost nothing. PZM is redistributed by incorporating transaction fees that are awarded to an account upon successfully creating a block. This is known as forging and is akin to "mining".

History of PRIZM (PZM)

The total amount of PRIZM (PZM) plas to be six billion tokens. The whitepaper of the token was released in June of 2020.