Describing briefly Prizm (PZM), it’s redistributed by incorporating transaction fees that are awarded to an account when it successfully creates a block. This process is known as forging and is akin to the notion of "mining" used by other cryptocurrencies. Transactions are considered secure after 10 block confirmations, and the current architecture and block size of the PZM allow processing up to 367,200 transactions per day.
PZM includes the implementation of Transparent Forging that will allow you to increase the performance of transaction processing by two orders of magnitude by using the generation algorithm is deterministic block, in combination with additional security mechanisms of the network.
PRIZM is a 100% proof-of-stake cryptocurrency based on the NEXT-kernel, built on Java with an open source code. The unique PRIZM proof-of-stake algorithm does not depend on any implementation of the "coin age" concept used by other proof-of-stake cryptocurrencies, and is resistant to the so-called "nothing at stake" attacks. The total number of coins available was distributed in the Genesis block. Curve25519 cryptography is used to provide a balance of security and the required processing power along with the more commonly used SHA256 hashing algorithms. Blocks are approximately generated every 60 seconds, on average, by accounts that are not blocked on network nodes.
BELOW ARE SOME OF THE MAIN FEATURES
Advanced JavaScript client:Convenient client application of the Second generation embedded in the distribution of the basic software Prizm, and which can be accessed via a local web browser. The client provides full support for all major Prizm features implemented so that users ' private keys are never available online. It also includes an enhanced administrative interface and built-in Javadoc documentation for the Prizm low-priority application programming interface.
Basic payments: - ability to transfer coins from one wallet to another.
This is one of the most fundamental feature of any cryptocurrency. Prizm transactions are facilitated through the use of basic payment functions.
Portable device:Thanks to its cross platform based on Java roots, the hashing of Proof of Stake and its future ability to reduce block chain size, Prizm is extremely well suited for use on small low-power low-resource devices. Android and iPhone apps and software have been ported to low-power ARM devices such as the RaspberryPi and CubieTruck platforms. The ability to implement Prizm on low-power, always-connected devices such as smartphones allows us to present a scenario in which most Prizm networks are supported on mobile devices. Low cost and resource consumption of these devices significantly reduce network costs compared to traditional cryptocurrency Proof of Work.
Other notable PZM features include:
- POS - forging typing
- Mixing the two technologies paramining + forging at the same time ParaMining. Source codes are closed (not lined), up to a certain time, as protection against clones as the guarantee that the system will be liquid.
- Partnership program 88 levels in the structure
- NEXT / Proof of stake core of the cryptosystem
- User-friendly interface for mobile devices
- The user password is not being sent to the server
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