Prizm Space
  • Prizm GitBook
  • Whitepaper
    • Introduction
    • Review
    • Core Technologies
    • POS in Prizm
    • Comparsion with Peercoin
    • Tokens
    • Network node
    • Blocks
    • Forging
    • Forging Algorithm
    • Paramining
    • Paramining options
    • Prizm Accounts
    • WALLET.DAT
    • Basics of Prizm Cryptography
    • Key Features
    • Problems
    • Application
    • Prizm Solutions
  • Prizm API
    • Description
    • General Notes
    • Create Transaction
    • Account Operations
    • Arbitrary Message System Operations
    • Block Operations
    • Forging Operations
    • Hallmark Operations
    • Networking Operations
    • Server Information Operations
    • Token Operations
    • Transaction Operations
    • Utilities
    • Debug Operations
    • Prizm API Examples
  • Roadmap
  • Prizm Devs
  • Latest News
  • Community
  • Downloads
  • Guidelines
    • Video
    • Articles
      • How can I connect to my node from another device?
      • How to create Prizm Wallet
      • How to install Prizm Core
      • Prizm Integration
  • F.A.Q
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  1. Whitepaper

Review

PreviousIntroductionNextCore Technologies

Last updated 4 years ago

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PRIZM is a 100% proof-of-stake cryptocurrency based on the NEXT-Kernel which is 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.

PZM are 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 would 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.

Blocks are generated every 60 seconds, on average, by accounts that are not blocked on network nodes.