What is Prometeus coin (PROM) and how does it work?

Prometeus coin

Users can store and trade data anonymously and without any trust on the Prometeus platform. You should have a good understanding of the project after reading this article to be able to make your own investing decisions. Any investing choices you make are entirely your own responsibility. I hope you are successful and benefit greatly from this prospective market.

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Detailed information about the Prometeus project and the PROM coin.

What is Prometeus (PROM)?

Prometeus is a decentralised, secure platform that enables entirely anonymous data storage and exchange.

Prometeus was once intended to be a trading platform for data. People can earn money by selling their personal information or the products of their labour that have been preserved as files on the Prometeus data exchange platform named Stoa. For instance, it enables artists to get paid by their fans when they sell them their unique songs, movies, photographs, etc. It connects data producers from all industries with data consumers and acts as a decentralised cross-horizontal hub for big data (Health Care, Finance, Public, Research, Retail, Marketing).

The project also discovered that there was no place for the project’s community to talk about data purchases in a safe and confidential manner. Since popular social networks and messaging services are limiting media freedom, the project has been constructing infrastructure that gives more freedom to everyone through the public blockchain.

A DeFi initiative that is data-driven is Prometeus Coin. A project called Prometeus Network (PROM) tries to address issues with data brokerage. The initiative, which claims to be entirely decentralised, is moving in the direction of addressing the actual issues facing the data brokerage industry. PROM is the native utility token for Prometeus. Continue reading for more information about PROM, including what it is, how to use it, where to buy it, how much it costs, and other details. Visit this page to learn more about Tribe Coin.

Prometeus is a layer 2 decentralised framework developed by Prometeus Labs with the goal of offering secure and private data sharing. Binance Smart Chain is used for communication between Prometeus nodes, while Arweave is used for storage and Sia Skynet for distribution of digital material.

Network Compromise: Following the mainnet’s debut, users who want to take part in Proof of Staked Authority (PoSA) network consensus and earn PROM rewards must stake their PROMs.
Payments: PROM can also be used to pay for services through Prometeus-based programmes like Ignite and Stoa, a platform for decentralised data monetization (a decentralised social network).

How to buy Prometeus coin (PROM)? What is the price of the PROM?

At roughly $18.07 as on August 27, 2021, the prom cost. The total supply of Prometeus coins is 19.250.000 pieces, with a 16.450,000 piece circulating supply. The cryptocurrency exchanges where it is listed allow users to purchase Prometeus coin. But selecting a trusted and well-known exchange is essential before trading.

What products does Prometeus offer users?

Ignite

Ignite is a decentralised social network that enables users to freely share texts and media files containing their ideas. Every post is dispersed via the Binance Smart Chain and is an immutable distributed data storage that can store the necessary data indefinitely. Ignite cannot be stopped by any kind of firewall or barrier because it is built on Arweave.

The goal of Ignite is to establish an open exchange of information online. It is a method of intercontinental communication that upholds personal autonomy and is censorship-free. Ignite will not be controlled by anyone and cannot be controlled by authorities because of its decentralised structure.

Features of Ignite

Ignite cannot be banned, just as the blockchain itself cannot be.

No cost censorship

Uncensored and not banning users

The distributed datastore Arweave stores data indefinitely.

Blockchain-based authentication

Stoa

Users can purchase and sell any type of data on the decentralised network known as Stoa in a safe and secure manner. Identity verification is not necessary throughout the entire process, which is anonymous. To purchase or sell in the system, users merely need to start a node. All types of data can be exchanged by any user (documents, images, videos, etc.). Data Exchange connects data producers from any business with data consumers and acts as a cross-horizontal hub for big data (Healthcare, Finance, Public, Research, Retail, Marketing).

The encryption protocols prevent the system from accessing the data directly. The logic outlined in the smart contract governs every transaction and is entirely visible. Stoa is totally decentralised and open source. Each and every one of the

Basic information about PROM token

Prometeus Token Price PROM CODE Ethereum Blockchain

ERC-20 Token Standard

0xfc82bb4ba86045af6f327323a46e80412b91b27d is the contract number.

Type of Token: Utility

20,000,000 PROM in total.

Supply in circulation: 16,449,996 PRO CODE

Token Allocati

Sale of Tokens: 24.24%

Marketing and community: 45%

15% reserves

Advisor and team: 5.76%

Pool of Liquidity: 6%

Environment: 5%

What is PROM token used for?

Making transaction fees payments

stake benefits

Making service fee payments

PROM token storage wallet

Since PROM is an ERC20 coin, you have many wallet alternatives to hold it. From the following wallets, you can select:

floor kitty

Metamask, Myetherwallet, Mycrypto, and CHK wallet are well-known ETH wallets.

Cold wallets: Trezor and Ledger

How to earn and own PROM token

Buy directly on the exchange.

Where to buy and sell PROM tokens?

Currently, there are numerous exchanges where PROM is traded, with a daily trading volume of roughly 4.4 million USD. Binance, Gate.io, Upbit, FTX, AscendEX, Coinone, Kucoin, and Uniswap are a few of the exchanges that list this coin.

PROM: The Token to Benefit From

Every project in the vast world of blockchain has a utility token that is endowed with certain use cases that enhance the holder’s experience. In terms of cost-effectiveness, ease, governance, and revenues, PROM is no exception. Our currency has been created to guide platform users on their P2E journey. For any GameFi enthusiast, each of these elements is essential. So, in this essay, we’d like to briefly highlight them.

Half-Price Fees

Holding PROM is a smart method to generate income and pay a lot less in commissions. For example, platform service prices are reduced for token holders. If PROM is chosen as the option for covering fees, the overall amount due will be reduced. As a result, consumers can conserve resources and, for example, utilise them to purchase more assets.

Convenient Payment Method

The fact that PROM may be used as a practical payment method for the NFT marketplace and rental is one of the token’s most distinguishing qualities. Users no longer need to maintain separate currencies for each project. The same token and the same wallet can be used to purchase all of the assets.

Multifaceted Governance

As a governance token, PROM’s primary advantage is that it enables its users to create a decentralised community where each holder has equal rights and the ability to advance and shape the project’s progress. They can vote on crucial decisions that affect Prom’s future as a result. They can, for example, alter costs, decide which games to include in the marketplace, which projects to reject, and which game collections to award with extra rewards.

It’s significant that each token holder has the ability to submit a proposal for voting. Voting is completely transparent and open. Elections will not be decided by a single vote because PROM tokens have been allocated equitably. Thus, there can be no cheating.

Access to LaunchPad

Access to LaunchPad, a useful feature we shall soon explain to you, requires PROM. Let’s now discuss LaunchPad’s key features. For projects, LaunchPad aims to be the ideal source for luring new customers. Users will be able to monetize their interest while helping to construct a variety of P2E projects at a low cost. The precise PROM requirement to use LaunchPad’s features will be disclosed soon in a dedicated post about the service.

Conclusion

As you can see, we put a lot of effort into creating a utility token that is both highly effective and advantageous for all of its holders. As a result, we created PROM, a currency designed to improve all of your gaming and prom experiences. For instance, it is a good approach to improve earnings, save money, and support the growth of the project and the P2E business as a whole. We have other, more spectacular accomplishments to consider, so PROM is not our only one. Explore the platform and read our content to come to a conclusion.