As a seasoned researcher with years of experience under my belt, I must say that the launch of Prom’s mainnet is a significant milestone not just in blockchain technology but also in my career. The extensive test campaign involving millions of transactions from unique wallets is a testament to the robustness and scalability of this network.
The network built using the Polygon Software Development Kit, known as Prom, officially launched its mainnet after a comprehensive testing phase that encompassed more than 25 million transactions from approximately 2 million distinct digital wallets.
As per a statement made on November 21st, the platform known as Prom utilizes zero-knowledge proof (ZKP) cryptography to boost security, scalability, and lower transaction costs. This particular solution, still not commonly used due to its complex implementation, enables fast transactions and smooth interaction within blockchain networks. Iva Wisher, COO of Prom, commented on this.
We’re excited to begin a fresh phase for Prom and make it easier for developers and users to work with the blockchain. Our goal is to continually improve efficiency, ensure scalability, and simplify daily on-chain actions. We can’t wait to see a surge of products being built on our network!
As a crypto investor, I recently learned that the newly discovered network I’m interested in has deep roots dating back to 2019 when it was developed collaboratively by Polygon, DWF Labs, Ankr, Goldsky, Automata, and Blockscout. Their combined efforts have resulted in this impressive network. The native token of this network, PROM, is now available for trading on major exchanges such as Binance, HTX, KuCoin, Gate.io, Upbit, and AscendEx, making it easily accessible to investors like myself.
The network utilizes the Decentralized Autonomous Organization (DAO) provided by Prom, enabling it to oversee its grant program and make decisions about the network’s future development by participating in governance actions. Every token holder has a voice, and the voting process is transparently conducted online.
Besides enabling involvement in DAO operations, PROM not only functions as the gas fee token but is also the sole method for settling network transaction fees. The system implemented a consensus algorithm called Proof of Stake Authority (PoSA), which is a blend between Proof of Stake (PoS) and Proof of Authority; in this case, PoA is an evolved form of PoS.
In the Proof of Stake and Authority (PoSA) system, validators who participate are both recognized and hold PROM tokens. If they behave improperly, their stake (their PROM tokens) is reduced as a consequence, serving as a financial deterrent for misconduct. Unlike Bitcoin‘s proof-of-work mechanism, PoSA consumes much less energy.
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2024-11-21 20:05