After searching for a while we've found a logo which was attracting to us. After doing some research we came to the conclusion it was a very interesting cryptcurrency with, maybe even a more interesting founder! We've managed to get in contact with them and the result is a interview with the developers of this UNIQUE coin!
Who is/are PRIZM?
Prizm is a fully decentralized and self-regulating ELECTRONIC CURRENCY. It allows any user to quickly and reliably make money transfers directly, the same way you transfer cash from hand to hand.
PRIZM is PoS cryptocurrency based on the NEXT core, built with the Java language open source. The unique algorithm of PoS in PRIZM does not depend on any implementation of the “coin age” concept used by other PoS cryptocurrencies, and is resistant to so-called "nothing at stake" attacks. Curve25519 encryption is used to provide a balance of security and required processing power among with more commonly used SHA256 hashing algorithms.
Where is the name PRIZM coming from and how did the idea to start this coin arise?
The name and the logo are taken from the Physics books. In short, how the light goes through prism and changes its features/characteristics, the same way the PRIZM system will spread and change the features of the current unfair financial system of the world. Logo also has many meanings, one of them is the pyramid turned upside down, meaning if usually money comes from the top of the pyramid (like US dollar) and goes down, here money comes from the top, which is common men, and goes down as per the will of these same people. Which is a fair monetary system based on "human capital."
What makes PRIZM unique comparing to other cryptocurrencies?
Due to the technical implementation of a completely different concept of the emission of new coins, than in all other crypto-currencies, PRIZM becomes even more decentralized as it develops and is not becoming a centrist model. We are the first who solved the problem of 51%. This problem could not have been solved by any team out of the existing crypto currencies in the world.
Open Source Code here - https://github.com/prizmspace/PrizmCore
In PRIZM, the decentralized emission of new coins is carried out in the wallets of all users of the network simultaneously. Due to this, as the network develops, new coins from the Genesis wallet are being allocated to an increasing number of addresses. Thus, PRIZM coins are constantly being dispersed and decentralization is constantly increasing.
The speed of creating of new coins depends on two factors. The elements of network marketing on blockchain is used in the mechanism of Paramining. Due to this, the network can develop by itself, expanding and absorbing more and more users.
The PRIZM system will never become a centrist model, as it happens with Bitcoin (mining pools) or in Proof-of-Stake cryptocurrencies (the volume of the stake). Setting up the nodes and generating the blocks is easy and possible for each person by using his/her home computer as this task is not complicated.
The unique paramining of PRIZM is technically not implemented anywhere else, in any crypto currency, in any country. This is a unique blockchain development, which has no analogues in the world, so this part of the source code is currently encoded by the licensed Java encoder. It will be decoded and kept in public access after the full distribution of pre-mine.
Advantages – speed of transactions - up to 1 minute. Capacity is not limited - up to hundreds of thousands of transactions per minute (1 block / 1 min).
Above you mentioned paramining, what exactly means paramining?
ParaMining is a key advantage of PRIZM over the rest of cryptocurrencies. Due the basic forging mechanism, the developers of PRIZM have added a unique, linear-retrograde mechanism for determining the reward for the storage of funds, aimed at economic attractiveness and the gradual replacement of all existing financial instruments of the world by the mass of PZM. That is, in addition to the basic forging mechanism, which does not increase the amount of funds in the system. Prizm has an additional mechanism called ParaMining, which creates new coins, according to the metrics of the standard mathematics of the development of a normalized financial system in the context of the global economy. According to our calculations, only this format for the growth of the mass of coins can ensure a gradual and confident replacement of all existing economic instruments.
The main advantage of Paramining is uniqueness of situation where nobody can interfere with this mechanism and falsify new coins – all PZM users and miners can monitor the number of coins issued by the system in the real-time.
Paramining works on any PRIZM wallet with a balance of more than 1 PZM and automatically stops when the balance reaches 1 million PZM. For the first time, the system of establishing referral links without using any references has been applied. After creating a new wallet, the system captures its first transaction from the block and permanently sets up a referral chain that cannot be changed, which makes it easy to build global MLM networks and increase the speed of new coinage.
To start production of new PZMs, only one coin in the PZM wallet is enough to automatically start paramining. This is the process that allows you to increase the number of coins in your wallet without any electricity costs. ParaMining starts with 1 coin and stops automatically when number of 1 million coins is reached in the wallet.
Photo: Founders of Prizm (Left) Mr. Aleksei Muratov and (Right) Mr. Yury Mayorov (Head of programmer team).
What is the difference between PoW and PoS?
All crypto-currencies are conceptually identical. They all have one problem. They are born decentralized, but as they grow, they become centrist like how Bitcoin is today. For example, in order to generate a new coin, to mine Bitcoin, you need to select pairs of prime numbers thanks to what the block is generated, which means if you generate a new block in blockchain, the genesis block gives you a coin as a reward, by sending it to your address. And this is how it works in all cryptocurrencies - to generate a new coin it is necessary to support the network.
Maintaining the network is basically called mining, or forging. Miners do not deal with bitcoins as most people imagine, they generate blocks in blockchain and for that they get a reward in the form of Bitcoin. In Bitcoin genesis block it is already written, as to how many bitcoins should be given for each block and within what period of time. Genesis block will give bitcoin depending on the level of difficulty, and the same applies to all the other cryptocurrencies. This unified concept leads to centering, that is, to centralization.
As at the initial stage there are a lot of miners, it is easy to mine, easy to generate blocks, and easy to maintain the network. Accordingly, anyone can mine, as there are many miners and they will not let anything happen to the network.
This applies to both the concepts – POW as well as POS. In POW, if the complexity of the network increases, then more powerful equipment is required, and one needs to invest a lot of money to be able to generate new blocks of blockchain, respectively, the competition is decreasing, since you need a lot of “iron” to generate blocks. The same goes with the classic POS concept. To generate new blocks you need to have coins. The more coins you have, the more blocks you forge; the more blocks you forge, the more coins you are given. Accordingly, you become stronger and stronger. Competing with you becomes more difficult. And if you do not sell your coins to anyone, then you get the whole network concentrated on yourself. Because of this, all the network of blockchain which are working on this principle, are striving from decentralization to centering. So, the more “power-iron” in POW or the more coins in POS, all these systems tend to centering or to capturing of this system.
In PRIZM, everything is fundamentally different: emission of coins is not related to the generation of blocks in blockchain. In fact, forgers are enthusiasts who maintain the network in a working condition and do not generate new coins. They simply receive a fixed commission from the transactions that were recorded in the block they create. The coins are generated for all the users simultaneously and this leads to even greater decentralization. It is impossible to accumulate 50% of coins in one place. The more the network of users grows, the more it spreads. The amount of users grows and Genesis is required to generate new coins for different addresses. To get more coins from Genesis, users are forced not only to keep their coins, but also to distribute them to their followers by popularizing the system and leading it to an even greater decentralization. PRIZM is conceptually completely different. Generation of coins is made for storage, regardless of whether you create new blocks or not. Coins are generated based on the available balance.
PRIZM is the only cryptocurrency wherein blockchain is on one side of the coin, and the generation of coins is on the other side of it, and all this is connected in one 100% decentralized cryptocurrency. No one has it yet. This makes it possible not to become centralized, but to preserve the original concept of the tool which is decentralized, open, transparent and controlled by a huge number of users of the network.
How to obtain PRIZM? Is it easy to buy them with fiat money and vice versa?
At the moment you can buy/sell Prizm at international crypto-exchanges mentioned on coinmarketcap.com (PZM/BTC, PZM/USD).
Also distribution of pre-mine Prizm coins is going on through the network of “private banks” – personal exchangers of leaders in different countries as per the strategy of prizm.store
It is very important to distribute PRIZM in maximum countries to the maximum amount of people in small amounts, so to achieve maximum decentralisation in the initial stag of development.
Where to obtain wallets and how about the fees?
All the links, that is open source code, links of wallets, android application, API, blockchain explorer are on our github account - https://github.com/prizmspace/PrizmCore
The minimum network commission is 0.5% up to $ 10. After the transfer amount, where 0.5% exceeds $ 10 - a fixed fee is $ 10. Which means when transferring $ 1 million through PRIZM from one place to another anywhere in the world, you will pay a commission of only $ 10
The early idea of cryptocurrency was to maintain greater financial privacy. Does PRIZM also have this feature?
We would better say financial privacy in the meaning of independence. The idea of block chain is that all users of the system can see all the information on all the transactions. Why don't the government think about regulation of cryptoexchanges, licensing them. In such way all the users will be identified and paying taxes. And we don't have anything against that. It is normal developement of the industry. But it is very important that any blockchain which is approved by government in future is really a decentralized tool. where all users are equal and have the same rights. PRIZM has all the features to be the base for the governments to create a really decentralized national cryptocurrencies and use it as payment methods. They should not create closed blockchains with unlimited emissions and again control the system.
Did PRIZM had a pre-mine and were was it used for?
Since the launch, PRIZM team has overcome many difficulties: but not only the viability of the project in a rather aggressive environment, but also its prospects and long-term perspectives – were shown.
First - the full implementation of PRIZM pre-mine (10 million coins). It's like ICO in other projects. Only after this, the project becomes truly decentralized. All new coins are accrued only on the basis of the old ones. The pre-mine will be completely distributed and will not be in the hands of its creators, but in the hands of the users of the system.
The PRIZM payment infrastructure will be created with the proceeds from the sale of the pre-mine. Which will be: the listing in online and offline exchanges / certified crypto-exchangers, linking of PRIZM to VISA payment system. As well as active promotion of PRIZM crypto currency - production of TV series translated to different languages - about PRIZM crypto currency, organization of dozens of regular online / offline conferences and daily trainings around the world, etc.
Do you have a roadmap and what will the biggest challenge to achieve?
As written above, at the moment the distribution of pre-mining is carried out, for the purpose of implementation of the further development strategy. But we are interested not just in investors for our project, but we are primarily looking for partners in countries that can "spray" PRIZM to as many participants as possible.
It is this approach that will allow PRIZM to pass the path of development which Bitcoin had, in the shortest possible time. We are sure that PRIZM will not only catch up with Bitcoin in terms of capitalization and the number of users, but will also bypass it, as it is technically superior in its parameters.
The main difficulty, of course, is the stereotypes imposed on the existing world financial system over the past 100 years, as well as the superiority of top-level crypto-currencies. We hope that our ideology and our PRIZM tool will erase these stereotypes and PRIZM will serve for the benefits of the people not only in Russia, but all over the world.
The project was created primarily as a convenient and modern international means of payment. To become a payment tool – the tool which Bitcoin has never become
A lot of people talk on forums not to trust PRIZM because of the dark history of founder Alexei Muratov with MMM. People are backed off and scared to invest in this coin. They are afraid it is a scam. Can you explain why it is not a scam and why to invest?
Since 2011, Mr Alexei Murartov has been organizing conferences all over the world where he speaks about the unfair financial system based on US dollar where the emission of dollar is in private hands, and all countries in the world are participating in this one big global pyramid. He participated in such events including not only MMM, but many more projects who have shared this ideology. Mr Muratov is the author of the book "Ideology of CWT"
It has been published all over the world in English, Arabic, Chinese, Hindi, Bahasi and has more than 200 000 copies. Mr Muratov points out that it is the blockchain technology which is the solution to get out of this "dollar needle" and the mechanism of decentralized cryptocurrency is this tool which we need to fight with this evil. He has always supported all the communities in different countries who share this philosophy.
Mr. Muratov is also listed on the US sanctions list. Does this effect the growth of PRIZM?
"Adding me in this sanction list is an attempt to restrict my travelling. I constantly travel around the world, presenting my book and telling people about the imperfection of the world financial system based on dollar. More and more people understand this and begin to search the way out. They see it in a decentralized financial system based on Blockchain – crypto currencies.
Recently, the international group of CWT developers created a new generation of crypto currency. It is called PRIZM and as per opinion of many experts PRIZM is a technical perfection. It is much more advanced than existing crypto-currencies, including Bitcoin. The mission of PRIZM is to replace the US dollar from circulation," - comments Mr. Alexei Muratov, commenting on the adding to the sanctions list.
Because of the fight against the world financial system, the US government added the leader of the CWT movement into the sanctions list. The International Public Movement CWT has set itself an ambitious goal to save humanity from dollar slavery. We call on all the patriots and all people who want to be free from financial oppression and who want their children's welfare – please, do support our movement and start your own way to liberation from the "dollar needle."
What has “CTW” (Change The World) to do with PRIZM? And can you tell more about CWT?
PRIZM is developed by the programmers of “CWT” International Public Movement. There is no emission center, it can be used as a fully transparent (blockchain) and decentralized payment system.
CWT – is and International Public Movement.
The objectives of the Organization are:
How popular are the cryptocurrencies in Russia and why do you believe in a future with cryptocurrency?
Cryptocurrencies till this year were known to very few people in Russian, we believe. With the sudden growth of Bitcoin rate this year, more and more people get to know about it. On government level several departments have now created the working groups, they are working to prepare legal terms, drafts of Law on cryptocurrencies, ICO etc
In October 2017 Mr Putin, President of Russia, issued an order to the Ministry of Finance to complete the Law by June, 1st 2018.
Fore more info visit:
Facebook - https://www.facebook.com/prizmcoin
Twitter - https://twitter.com/PRIZM_eng
Telegram - https://t.me/PRIZMclub
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