What is PRIZM?

PRIZM (PZM) is a peer-to-peer blockchain network that operates on a Proof of Stake consensus algorithm. It is a decentralized, self-regulated digital currency that strives to provide an alternative to traditional international payment systems. PRIZM is built on Java v.8, and it is open source. It is designed to allow any user to store and transfer coins easily and securely. PRIZM is not a security, as confirmed by legal opinions from the US and EU countries. It is known for its transaction processing times on the blockchain network.

How does PRIZM work?

PRIZM operates on a Proof of Stake consensus algorithm, which was chosen for its environmental friendliness and its ability to avoid network complexity and power races. The network is maintained by a standalone computer program (Node) that automatically confirms blocks when certain conditions are met. Any node can become public and provide access to personal wallets for everyone. Users can access their wallets without third-party services, thanks to the ability to use the broadcasting node on any device with internet access. PRIZM also uses a unique coin generation method called Paramining, which rewards users for holding funds.

What are the potential use cases for PRIZM?

PRIZM can be used as an international payment system, allowing users to store and transfer PRIZM coins around the world. It also provides the ability to access your wallet without interacting with third-party resources. An open API makes it easy to integrate the payment system into the business sector, IT development, and fully automate the processes of receiving and sending coins. All blockchain data is public, allowing for the generation of any kind of statistics. PRIZM also offers a feature called Forging, which is the creation of new blocks in the blockchain based on the confirmation of ownership.

What is the history of PRIZM?

The concept of PRIZM has been in development since 2014, with the aim of creating a peer-to-peer blockchain network that is easy to understand and environmentally friendly. The zero block PRIZM was launched on February 17, 2017, with a premine of 10 million coins issued and distributed by the Genesis block. The final issue is 6,000,000,000.00 PZM. PRIZM uses Curve25519 cryptography with the intention of balancing processing power requirements, along with the more widely used SHA256 hashing algorithms. The consensus algorithm is built on modern and energy-efficient ECO technologies.