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PRIZM team participated in CryptoBazar Pre-ICO Day in Moscow

Participants of the international public movement "Change the World Together" and representatives of the crypto currency team PRIZM have always been the first to popularize crypto-currencies and to introduce this industry into the life of modern man. It is this ambitious goal that prompts activists to regularly participate in major events, forums and conferences dedicated to Blockchain, crypto-currencies and related technologies.

On September 21st 2017, the PRIZM team attended the "CryptoBazar Pre-ICO Day" event, which was attended by top projects preparing for the ICO. The blockchain-playground that was held at “Izvestia Hall” was a big event in the industry of the crypto-currencies, the business community and other spheres of the economy. Representatives of startups told about the idea of ​​their projects and spoke to potential investors. The event was attended by more than 1,300 people - among them: the founders of projects, investors and key members of the crypto-currency industry. Among the guests of “CryptoBazar Pre-ICO Day” there were also representatives of the State Duma, large companies, business analysts, economists from various fields and, of course, journalists.

"What are the guarantees, what is the profitability? Often, all speakers on stage – just give emotions, give promises...

As for decentralization, what experts said today - they mentioned Bitcoin as an example. Today, decentralization is only an illusion. Bitcoin was born as a decentralized project, it was easy to mine - in fact, and the project was controlled by a huge number of people. Today, this race of mining capacities has led to the accumulation of power in a dozen major mining pools - it is through them that new coins are being emitted, it is these mining pools that make decisions about changing the rules.

The trend is that in the future it will be just one mining pool. In view of the fact that the main mining equipment is produced in China, in fact, China will have control. Such volumes of electric power are consumed, such amounts are invested in the mining capacities. Everything works without it! ", - commented the founder of PRIZM and the leader of CWT Mr. Alexei Muratov on the current situation in the industry of crypto-currency.

Meanwhile, in the industry - the trend is towards the transition to Proof of Stake.

Today, in the industry of crypto currencies, emerged a very interesting trend, directly related to PRIZM. Simultaneously with the development of advanced crypto currency in the market, such a trend is gaining popularity as a transition to an alternative way of creating new coins - Proof of Stake.

First of all, this trend is caused by the emerging problems in the network of the second most popular crypto currency - Etherium. A few days ago the Byzantium test network was attacked by unknown intruders. Hackers filled whole blocks with spam contracts for large sums.

Also now in the community of crypto-currencies there are active discussions about the hard-core in its network.

As you know, in the coming weeks hardfork is planned in Ethereum. It will be activated on the block 4,370,000 (if the generation speed continues, it will occur on October 17).

At the same time, the creator of the crypto currency, Vitalik Buterin expressed his wish that the haphazard happened much later - at the end of October, but because of the upcoming Devcon conference in early November, his decision has changed.

Thus, even the creator of Etherium realized that the crypto currency has been dependent on the business of mining pools and it's time to change it.

"When we move to the Proof-of-Stake protocol, the need for ether mining will drop dramatically at the first stage. Proof-of-Stake uses an algorithm that does not require a large number of computers to constantly make calculations. This is an algorithm where a coin is used inside the platform itself. The consensus will become much cheaper and safer. And in fact, miners may lose their business, " - stated Vitalik Buterin.

Let's sum it up. In turn, PRIZM was originally built on a more modern, reliable and decentralized technology - while giants of the market like Etherium are unevenly exploring new technologies.

  • September 28, 2017 6:55 PM MSK