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

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

by Financial Economy

Prometeus Coin is a data-driven DeFi project. Prometeus Network (PROM) is a project that aims to solve problems related to data brokerage. The project, which is stated to be completely decentralized, aims to solve the real-world problems of the data brokerage sector and proceeds in this direction. PROM is Prometeus’ native utility token. Detailed information about what is Prometeus coin PROM, how does it work, how to buy it, how much is the PROM price, etc. in the continuation of the article. You can browse here for information about Tribe coin.

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

Prometeus is a layer 2 decentralized framework created by Prometeus Labs that aims to provide reliable and anonymous data storage and exchange. Communication between Prometeus nodes takes place on Binance Smart Chain, while digital content is stored using Arweave and distributed via Sia Skynet.

PROM is Prometeus’ native utility token and is intended to serve the following functions:

  • Network Compromise: once the mainnet is launched, users will need to stake the PROM to participate in the Proof of Stakeed Authority (PoSA) network consensus and receive PROM rewards in return.
  • Payments: PROM also serves as a means of payment for services in Prometeus-based applications such as Stoa (a decentralized data monetization platform) and Ignite (a decentralized social network).

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

The Prom price is around $18.07 as of August 27, 2021. Circulating supply of Prometeus coin 16,450,000 pieces, and the total supply is 19.250.000 pieces. Prometeus coin can be purchased from crypto exchanges where it is listed. But before trading, it is necessary to choose a reliable and well-known exchange.

Caution: The information contained in this content is for informational purposes only. It is not investment advice.

For information about crypto currency: https://en.wikipedia.org/wiki/Cryptocurrency

Related Posts

Leave a Comment