Prometheus (PROM) coin: What is it?

As an open platform, Prometheus Network supports securing and decentralizing data brokerage, solving real-world problems. Influencer Marketing, Medical, and Insurance data markets have been targeted with this application. Innovators and entrepreneurs from Prometheus Labs have created Prometheus Network.

Its mission is to assist businesses in adopting blockchain technology. The company does not only focus on cryptocurrency, which is one implementation of the blockchain but helps end-users implement the technology most straightforwardly.

It appears Prometheus had an extremely ambitious vision. This all began with a simple idea, but one that proved to be extremely effective. Relational databases are essential for business today, and almost everyone is aware of what they are. Blockchain technology can’t claim the same thing, but fortunately, we’re on our way.

Blockchain technology allows Prometheus to integrate any existing data source, including databases, with ease, speed, and efficiency. The MVP of Prometheus allows data to be transferred from the database (or another source) to the desired blockchain. In addition, it is possible to reverse the process of transferring data, i.e. from the blockchain to a database or another data source.

A solution like this has immeasurable implications. Solutions can be applied by any entity that wants to use blockchain technology in a simple, convenient, and effective way to address trust issues. In-house solutions will not be necessary because the technology works remotely. Prometheus will provide business entities with a platform to greatly improve business processes and increase business competitiveness in the future.

 For users to integrate the business processes and the blockchain in the Prometheus platform, the MVP has already been developed. Connecting to a database, selecting desired data, and then sending it to the blockchain takes only a few clicks. A reverse is also an option. Blockchains can be used to enter information into databases.

Tokens such as PROM will be used to perform the following tasks on the Prometheus platform:

• The network compromise: To partake in Proof of Staked Authority (PoSA) network consensus, users will have to stake PROMs to receive PROM rewards once the mainnet launches.
• Payments: PROM is also used for payments for applications built on Prometheus, including Stoa (a social network and decentralized monetization platform).

Token Fundamentals

The Prometheus (PROM) data market was allegedly created for influencer marketing, healthcare, and insurance. The latest rally appears to be technical, with little support from fundamentals, even though PROM recently announced some new partnerships and network updates. PROM’s breakout from two months of consolidation looks strong.

 In the decentralized finance (DeFi) ecosystem, Venus (XVS) provides lending and borrowing solutions and is one of the best options for earning a yield on the Binance Smart Chain (BSC).

 By 2021, Binance Smart Chain (BSC) has gained prominence as smaller investors sought cheaper alternatives to Ethereum’s (ETH) network owing to high transaction costs. XVS and CAKE, the two largest projects on BSC, have seen their price increases as a result of the growth of these two tokens.

 Decentralized finance (DeFi) offers effortless capital mobility and higher yields that are glimpsed in the current era of fleeing legacy banks. Huobi Token (HT) and Okex exchange token, OKB, both have grown as a result of the general growth in exchange tokens. Starting at the beginning of this year, Huobi launched a crypto loan program, helping traders to trade with leverage and borrowed money.

 A phased process for real-time settlements of perpetual swaps, futures, and options contracts has also been instituted by OKEx (OKB) since December last year. OKB announced a perpetual swap involving a polygon USDT-margined metric (up to 75x leverage) available now on OKEx.

IEO participants’ protection

Despite the completion of MVP and full functionality of the platform, IEO must be completed as soon as possible. Prometheus will use PRO tokens as the primary means of payment and its ecosystem will be healthy. Its ICO will take place last March 2020 and last for three months. Tokens will cost $ 0.1.

Professor Srdjan Vukmirovic leads the team that makes it extremely clear that their sole intention is to complete their platform in the shortest amount of time possible. A good example of this is our participation protection system. Our participation in protection technology was unique at its time.

With Prometheus IEO, all Ethereum tokens are locked up through smart contracts. The IEO participants will automatically receive their coins back if the soft cap of $ 530,000 is not reached. It is capped at $ 11M.

 ICO investors will be further protected by the Prometheus organization. In the event the hard cap is exceeded, we want to protect our investors further by appointing an independent third party (such as a university) to estimate the progress made in developing the Prometheus platform based on the roadmap. A product that does not meet the requirements, that is, if the development of the Prometheus platform does not match the roadmap, the investors’ investments will be returned, but their investment will be proportionally reduced from that of all investors by $530,000.

Buyers of PRO token over $1,000 will also be able to propose an “observer” out of the several offering for their choice. This will ensure the independence of the third party that will watch over the Prometheus platform’s progress and development.

How to buy?

As of August 27, 2021, Prom prices will be around $18.07 per person. A total of 19,250.000 coins are available from the circulation supply of the Prometheus coin. Listed on crypto exchanges, Prometheus coins can be bought. Choosing an exchange that you can trust and that is well known is necessary before you trade.