What is Prometeus (PROM)?

Prometeus is a decentralized framework with top-tier security that allows for data storage and exchange under a completely decentralized and trustees model. The Prometheus network was initially created to serve as a marketplace for data trading alone, however, the developers of the platform significantly expanded its use case. The platform’s dedicated data exchange system is known as Stoa and it allows people to earn rewards from the sale of their data or their previous discoveries that have been saved as files. For instance, in the world of art, the platform creates an avenue for artists to earn rewards from their followers for the sales of the original workpieces to them, such as music, images, or videos. The system essentially stands as a decentralized cross-horizontal hub that applies mostly to the big data industry. This could cut across several industries including Health Care, Research, Finance, marketing, Real estate, and several others. It also creates a meeting point for the participants of these industries with the data consumers.

Before the official deployment of the platform, its founders carried out in-depth research and discovered that the community required an environment where they can freely discuss and execute the purchase of data on a grand scale securely and anonymously. Because of this discovery, in the development stage of the system, the project implemented and developed an infrastructure within its ecosystem that provides more freedom to all the participants via its public blockchain, a mainstream social network as well as messaging services.

Who are the Founders of Prometeus (PROM)?

According to the official website of the Prometeus platform, its founders are silent and have assigned a group of professionals to oversee its smooth operation and development. These individuals are Vladislavs Semjonovs and Iva Wisher among several others in its ecosystem.

Semjonovs holds a degree in international law from Kutafin Moscow State Law University, and after obtaining his degree, he moved on to attend the Riga Graduate School of law. Upon completing his education, he landed a series of legal counsel jobs up until 2013, when he became an international trade manager at AS Recipe Plus. Later he slipped into the world of blockchain technology as a consultant at BlockchainSaw LLC. After a few years and some more jobs, he founded Ignite Social, right before being appointed as the leader at Prometeus.

Wisher on the other hand is also a well-learned person with a marketing and PR degree from The Russian Presidential Academy of National Economy and Public Administration (RANEPA). After his degree, he got appointed as the communication manager at High Sierra Pools, then he moved on to VTB Capital as an investment banker. In 2020, he became the co-owner of Antler Ventures, and then got appointed as the COO of Prometeus Labs.

What is Prometeus (PROM) used for?

The Prometeus token is a data-driven DeFi solution that is geared towards the provision of solutions to data brokerage-related problems. The project, as stated by the team responsible for its creation, was the product of several forms of research carried out into the provision of data-related solutions, starting with the brokerage sector and expanding to other parts of the industry. The Prometeus platform was developed as a layer 2 decentralized system created by the Prometeus Labs to enrich the world with reliable and anonymous data exchange and storage.

The native token of the Prometeus network is the PROM token and it serves two principal functions on the network.

* Network Compromise: Upon the launch of the mainnet, the users will be required to stake the PROM to participate in the Proof of Stake Authority (PoSA) network consensus and receive PROM rewards in return.

* Payments: PROM is used as the main form of payment for services in Prometeus-based applications. The token is also of significant value outside the network and is exchangeable with other tokens such as USDC and BUSD.

What Is the Unique Point of Prometeus (PROM)?

The prometeus network offers a variety of services that cut across several product offerings. One of these products is Ignite which is a decentralized social network that allows participants of the network to share their opinions freely via their media files and texts. Posts made on the platform are distributed all through the Binance Smart Chain and are Immutable stored distributed data that can retain the needed data forever. The platform is based on Arweave, implying that the Ignite network cannot be halted. According to the Ignite platform, its mission is to create a world where information is globally accessible and free-flowing online. The platform prides itself in creating an avenue for a global communication system that supports individual freedom without any form of censorship. Because of the decentralized nature of the system, Ignite will not be controlled by any singular entity.

A secondary product offered by the Prometeus network is Stoa, which is a decentralized system that allows its users to trade data via a secure and decentralized medium. The entire process is executed anonymously and does not need any form of identity verification. The users of the platform are only required to start a node to become a buyer or a seller within its ecosystem. On the platform, all the users can exchange data in any form including documents, videos, or images. The Data exchange function serves as a cross-horizontal hub for the storage of large-scale data and facilitates the connection between the industry and the consumers.

How many Prometeus (PROM) coins are in circulation?

Upon the creation of the Prometeus network, its dedicated token, PROM, was released with a total supply of 20,000,000 PROM tokens. Currently, the amount of tokens in circulation is pegged at 16,449,996 PROM.

In its distribution model, a total of 24% was assigned to the token sale, then 5.76% to its advisory and team. 45% was dedicated purely to the community as airdrops and other marketing endeavors, then 6% of the token supply was assigned for the initial liquidity of the platform. The system also assigned 15% to the Reserve and the last 5% to the ecosystem.

Is the Prometeus (PROM) Network secured?

The Prometeus system was built on the Binance smart chain after a series of in-depth research on the problems facing the blockchain industry and its application on data transfer and sale solutions.

Due to the Prometeus platform being developed on the Binance smart chain, the platform is fitted with the same security protocol as the Binance ecosystem. As such, the platform is protected by a delegated group of individuals who are focused on ensuring the security of the platform by making sure the transactions being executed on its network are extensively scrutinized and each transaction is vetted by a large number of network users before it’s added to the blockchain.

How do I buy Prometeus (PROM)?

The Prometeus platform provides solutions to many problems that have been discovered in the blockchain industry over the years that are related to data transfer and delivery. Currently, the platform has become more public because of this service provided, and that has led to its availability on several exchanges. Its tokens can be bought by following the procedures below.

  • Open a trading account with a supported exchange.
  • Deposit a specific amount of fiat money to the trading account
  • Buy your PROM tokens.

Which Cryptocurrency Wallet Supports Prometeus (PROM)?

The PTPWallet platform supports many cryptocurrencies simultaneously such as Prometeus (PROM). Because of its vast use case, it has grown to become one of the most used platforms as it serves as an exchange and an engine to discover other cryptocurrencies. Additionally, users can easily use PTPWallet as their PROM wallet because it offers a simple and interactive interface making it easy for people to navigate its system.


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