[{"category":{"name":"BitScreener Exclusive","exported_url":"bitscreener-exclusive"},"id":"18ac288c-1dda-47da-baf1-66bd7bec4cfa","updated_at":"2022-07-01T12:23:00+00:00","account":{"firstName":"Marigold","lastName":"Vance"},"description":"Among a myriad of data flow in this blockchain industry, opting for a reliable platform is a common concern of most customers. Prometeus, therefore, was launched as a decentralized protocol for data monetization to fuel and ensure people-owned data markets using blockchain technology. Let’s take a deep dive into Prometeus and its PROM token!","sapo":"Among a myriad of data flow in this blockchain industry, opting for a reliable platform is a common concern of most customers. Prometeus, therefore, was launched as a decentralized protocol for data monetization to fuel and ensure people-owned data markets using blockchain technology. Let’s take a deep dive into Prometeus and its PROM token!","title":"Prometeus (PROM): Is It a Good Investment?","content":"

Overview of Prometeus

Prometeus Network is a layer-2 decentralized framework developed by Prometeus Labs in an attempt to provide the storage and exchange for trustless and anonymous data with the support of AI (Artificial Intelligence).

As an open-source system monitoring toolkit, Prometeus powers community-owned data markets, introducing new ways for data interaction and monetization by a peer-to-peer operation approach.

Prometeus is designed as a data trading marketplace, namely Stoa, permitting users to receive rewards by selling their personal data or their laboring results.

Prometeus acts as a decentralized cross-horizontal hub for big data and connects data providers from various industries with data consumers.

About Prometeus (PROM) token

Built on the Ethereum network, Prometeus (Symbol: PROM) is the native utility token used within the Prometeus ecosystem.

PROM token performs the following functions:

Network Consensus: PROM stakers are allowed to partake in the Proof-of-Staked Authority (PoSA) network consensus.
Gas fees: PROM is used as transaction fees in the Premeteus blockchain platform.
Rewards: PROM is utilized to reward Premeteus staking and other community development activities.
Payments: PROM token serves as a payment method for services on Prometeus-based applications such as Stoa and Ignite.

How Prometeus works

Prometeus protocol provides following major products, including:

Ignite: A non-profit decentralized microblogging social network creates a free flow of information online, allowing users to share news and opinions freely via texts and media files without any censorship.
Stoa: A open-source distributed data monetization platform enables users to buy and sell data in a secure, decentralized and anonymous manner.
Prosper: A uncensored cross-chain prediction market, partnered with Animoca Brands, aggregates on-chain liquidity.
Promify: A fan token platform on the blockchain allows fans to own their favorite celebrities' coins for early access to exclusive NFT items.
Realis Network: The world’s first platform launched blockchain-based mobile games for the mass audience based on Substrate in the Polkadot ecosystem.
Coldstack: A unified protocol assembles DSNs to access storage space from any decentralized cloud storage.

Halter, Legal Shield and Tuzanye Game Guild are products on the developing process and about to launch in the near future.

Features of Prometeus

Prometeus protocol consists of three major components:

Service Nodes: govern data storage and accessibility for network security.
Validators: perform market data verification and take charge of reward payments.
DataMarts: guarantees data searches and purchase access within the network.

Implementing a highly dimensional data model, Prometeus network boasts four striking features, including:

Transparency: Smart contracts-based Prometeus distributes all the network value sustainably and transparently on a public blockchain.
Immutability: Data in the Prometeus network is permanently stored on a distributed data storage.
Privacy and Security: Without the requirements of KYC or any personal identification, data is encrypted in secure distributed data storage. Only by purchasing can access data.
Censorship resistance: Data in Prometeus Network cannot be censored as reputation management is operated by the self-regulating community.

Who is behind Prometeus?

Founders

Founded in 2020, Prometeus project was built and developed by Prometeus Labs that Arthur Suilin, Sergey Bryukov and Armen Beglaryan are behind.

Arthur Suilin – COO: A startup entrepreneur and data scientist with over 15 years of experience, the founder of Webvisor and Talk.ru companies bought by Yandex and Mail.ru.
Sergey Bryukov – CTO: As a leader with more than 10 years of experience working in the research and development department at Intel, Bosch.
Armen Beglaryan – Executive Management

Advisors

Alex Mizrahi and Iddo Bentov are the key strategic advisors of the Prometeus project.

Investors and Partners

Snowfox Technology offers financial solutions, enterprise software development, mobile applications, marketing automation and analytics.
Block Rock Capital specializes in providing multi-strategy algorithms.
NGC is one of the largest investment funds of Blockchain technology.

Is PROM a good investment?

As a decentralized ecosystem, Prometeus Network provides a data trading marketplace that is self-regulated by the owners with a standard infrastructure for the collection, verification, processing, and distribution of information.

Prometeus stands out among the peer network by facilitating the distribution of data sources, information accessibility and, regulations on personal data rights. Those seem to hold the sway on the bright variations of its PROM tokens.

On June 30, 2022, PROM took a pretty significant leap forward from $3.51 to $13.35, an over 73% increment, as the highest peak within a month. PROM is expected to grow exponentially as a result of its potential platform.

Explore all the trending topics and hottest news in the crypto market with our Blogchain.

Meanwhile, play trading game and earn real tokens with CryptoSim - Virtual Trading Game.

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Prometeus (PROM): Is It a Good Investment?

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