Review on PRIZM by Влад Сущик

Name: PRIZM
Item: PRIZM
Rating: 5

May 11, 2020

Earnings PRIZM

At first glance, PRIZM is the most ordinary and unremarkable cryptocurrency, of which there are hundreds and thousands. Decentralized, self-regulating, Proof-of-Stake algorithm, irreversible transactions, 256 transactions per block, 0.5% commission per operation, maximum $ 10. It is positioned as “the first popular cryptocurrency” and “the fairest cryptocurrency”.
In general, nothing interesting if, of course, you are not embarrassed by descriptions in the spirit of "The only way to live freely and humanly is ... PRIZM, and there is no other way!". And in the FAQ they decided not to waste time on things and said bluntly that the mission of the project is “rebalancing and fair distribution of funds between people around the world” and “becoming as an international unit with the subsequent replacement of the money supply of all countries of the world with PRIZM”.
Sounds good, huh? It is not surprising, because the coin itself comes from Russia and is oriented primarily to the inexperienced population of poor developing countries. Even if you go to the official exchange, they will immediately offer you to choose your place of residence: Colombia, Indonesia, Namibia, Nigeria, South Africa, Uganda, Venezuela, Zimbabwe (Ukraine and India were still there, but they disappeared somewhere )
Spice it up with slogans for financial justice and freedom from oppression - and the portrait of the target audience is ready.
An interesting fact: the PRIZM project was presented at the conference “Innovation Time 2017” in Sochi and received an award in the nomination “Project of the Year” in the category “Blockchain and Cryptocurrencies”. Do technologies that give freedom from oppression look like this? ..
Unlike unfair bitcoin, where mining requires a whole garage of expensive asics, PRIZM uses a mixed mining model - forging + paramining, which together form "a unique technology for creating new coins by all users at the same time" (after all, Venezuelan residents do not have money for asics) . It is emphasized separately that the principle of mining "is based on the fundamental laws of physics from the section of visible radiation" and "like the model of our Universe, the system is constantly expanding, gaining speed", but we will not talk about it.
Now let's look at the concepts themselves:
forging - distribution of the amount of commission between all users of the system. If you have a question, why do you need a fixed commission of 0.5%, then now everything should become clear.
It is important to note that forging, in principle, is not some kind of innovation and this topic can be found in a number of cryptocurrencies, for example, NEO (recall, for storing 1 NEO you get about ~ 0.00000008 GAS when generating a new block);
Paramining - it's mining balance. The bottom line is that as soon as at least 1 PZM appears in your wallet, the coins will begin to multiply themselves at a rate of up to 0.33% of the amount in the account per day.
Paramining can be called the pure invention of PRIZM. The process starts with a balance of 1 PZM and continues until you accumulate 1,000,000 PZM. But, of course, no one bothers you to transfer part of the coins to another wallet and farm on.
An interesting fact: in one of his interviews, the creator of PRIZM noted that “Due to the technical implementation of a completely different concept of issuing new coins than all cryptocurrencies, PRIZM as it develops becomes even more decentralized and not centered. We are the first to solve the 51% problem. This problem could not be solved by any team from the existing cryptocurrencies in the world. ” (source)
So, what do we have: the more coins you have in your wallet, the more you earn. The more partners you attract, the faster you get rich. “But what about inflation? So what to do when all the PZMs are generated? ” - you ask. But, firstly, the residents of Venezuela should not ask such questions, and secondly, according to rough estimates, everything will take about 500 years and by that time humanity will completely switch to PRIZM, so that the descendants will sort it out themselves.
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