Buy Prom (PROM)

Prom (PROM) is a layer 2 solution designed to enhance the interoperability and efficiency of blockchain networks. It functions as a modular zkEVM layer 2 platform that enables interactions between various blockchains, including both EVM-compatible (Ethereum Virtual Machine) and non-EVM-compatible networks. Prom acts as a bridge connecting different ecosystems, contributing to a more integrated and efficient blockchain infrastructure.

Central to Prom’s technology is the use of zero-knowledge proofs, specifically zk-SNARKs (Zero-Knowledge Succinct Non-Interactive Arguments of Knowledge). This cryptographic method allows the network to verify transactions without revealing the underlying data, ensuring enhanced privacy, scalability, and lower transaction costs. As a result, Prom can facilitate fast and secure transactions, making the platform appealing for both developers and end users.

Prom also utilizes Polygon Zero technology to further accelerate transactions by applying recursive STARK technology, enhancing the scalability and speed of decentralized applications (dApps) on the network. Additionally, Prom benefits from the robust security protocols of the underlying layer 1 blockchain, ensuring the integrity and safety of transactions and data.

Another significant advantage of Prom is its seamless integration with the existing Ethereum infrastructure, enabling developers to migrate or integrate their applications with minimal modifications. This compatibility reduces development costs and time, making it easier to leverage the benefits of Prom.

The native token of the network, PROM, is used for transaction fees, smart contract interactions, and grants holders voting rights within the network's governance structure. This promotes community engagement and ensures that the network's development aligns with the needs of its users.

Who are the founders of Prom?

Prom was founded in 2018 by Iva Wisher and Vladislavs Semjonovs. They combined their expertise to create a solution that addresses the limitations of existing blockchain networks. Iva Wisher has a background in blockchain technology and focuses on the development of scalable and interoperable systems. Vladislavs Semjonovs brings years of experience in cryptography and security protocols, which has contributed to the strong security architecture of Prom.

The team behind Prom, known as Prometeus Labs, comprises a diverse group of professionals with expertise in blockchain development, cryptography, network security, and software engineering.

Prom offers a variety of features and applications that make the platform versatile. The key features are:

• Interoperability between blockchains: Prom facilitates the exchange of transactions and data across different blockchain networks, both EVM and non-EVM compatible, creating a more connected ecosystem.
• Fast and low-cost transactions: With zk-SNARKs and Polygon Zero technology, users benefit from fast transactions at lower costs, ideal for daily transactions and high-volume applications.
• Development of scalable dApps: Developers can build scalable and efficient decentralized applications (dApps) on Prom, supported by advanced layer 2 solutions and compatibility with existing Ethereum tools.
• Privacy protection: Using zero-knowledge proofs, Prom offers enhanced privacy, which is appealing for data-sensitive applications requiring confidentiality.
• Governance: Holders of the PROM token can participate in decision-making within the network, influencing future developments and policy directions.

Prom functions as a modular zkEVM layer 2 platform on top of existing layer 1 blockchains. It uses zero-knowledge proofs, specifically zk-SNARKs, to verify transactions without exposing underlying data. This enhances both the privacy and efficiency of the network.

zk-SNARKs and zero-knowledge Proofs

Zero-knowledge proofs are cryptographic protocols that allow a party to prove a particular statement is true without revealing any further information. zk-SNARKs (Zero-Knowledge Succinct Non-Interactive Arguments of Knowledge) are a specific implementation that offers efficiency and scalability.

At Prom, zk-SNARKs enable the network to validate transactions without revealing details, leading to faster transaction times and lower costs due to reduced data exchange.

Integration with Polygon Zero

Prom integrates with Polygon Zero to increase transaction speed. Polygon Zero uses recursive STARK technology, an efficient and scalable form of zero-knowledge proofs. With this technology, Prom achieves high throughput, essential for applications with many transactions per second.

EVM and non-EVM compatibility

A unique feature of Prom is its compatibility with both EVM and non-EVM blockchains. The platform's modular design allows for transactions to be submitted across different blockchains, enabling developers and users to seamlessly operate between networks, enhancing interoperability and adoption.

Security and data integrity

Prom inherits the security protocols of the underlying layer 1 blockchain, typically Ethereum, providing a robust security layer. By combining these protocols with zero-knowledge proofs, Prom offers a high level of security and data integrity. Additionally, the network's decentralization enhances reliability by reducing single points of failure.

Governance and the PROM token

The PROM token plays a central role within the Prom ecosystem. It serves as gas for transactions and smart contract interactions, granting holders voting rights within the governance structure. Token holders can thus participate in key decisions like protocol changes, upgrades, and policy matters.

This governance structure encourages active community participation and ensures the network evolves according to its users' needs. It also encourages contributions to the network, such as setting up nodes and developing applications.

The PROM token is the native token of the Prom ecosystem and serves multiple essential functions within the network. Firstly, PROM is used as gas for transactions and smart contract interactions, meaning that every transaction and interaction with smart contracts on the network is powered by PROM tokens. This contributes to the platform's efficiency and speed.

Additionally, PROM plays a crucial role in the network's governance structure. Holders of PROM tokens are granted voting rights and can participate in decisions regarding future developments, protocol changes, and other important matters within the ecosystem. This encourages a decentralized, community-driven approach, allowing users to directly influence the project's direction.

Furthermore, PROM tokens serve as a reward for users who actively contribute to the network, for example by setting up nodes or developing applications. These incentives create a vibrant and engaged community that contributes to the growth and success of the network. The team has not currently set a maximum supply of PROM tokens.

Prom stands out in the blockchain industry with unique features and innovations:

• Bridge between EVM and non-EVM compatible blockchains: Prom offers interoperability between both EVM and non-EVM compatible blockchains. This connects a wide array of networks and breaks boundaries between different blockchain ecosystems.

• Modular zkEVM Layer 2 design: The modular design of Prom's zkEVM Layer 2 allows for the flexible submission of proof of transactions on different blockchains, giving developers more options when building applications.

• Integration of zk-SNARKs and recursive STARK technology: Prom combines zk-SNARKs for privacy and efficiency with recursive STARK technology via Polygon Zero, resulting in high transaction speeds and scalability. This architecture offers security and performance at a level few other projects match.

• Strategic collaborations for enhanced functionality: Through partnerships with companies such as Automata Network, Bailsec, and Blockscout, Prom strengthens its infrastructure, security, and transparency. This provides users and developers with access to advanced tools and services.

• Focus on community participation and governance: Prom offers users extensive opportunities to participate in the development and decision-making within the network. This community-driven approach ensures that the platform evolves according to the needs of its users.

You can buy Prom (PROM) at Bitvavo. Our platform is available both beginners and experienced traders . Follow these steps to purchase PROM via our website or app:

1. Register or log in to your Bitvavo account.
2. Click "Deposit" and choose your preferred payment method.
3. Go to the Prom (PROM) purchase page.
4. Enter the investment amount in euros or select the number of PROM tokens you want to buy and click "Buy".

Want to securely store your Prom tokens? This can be easily done within your Bitvavo account. Bitvavo keeps the majority of customer funds in secure offline cold storage for optimal security. For extra protection, we recommend enabling two-factor authentication (2FA), meaning you must enter an additional code along with your password when logging in.

PROM tokens can also be stored in external software and hardware wallets. When transferring your tokens to an external wallet, ensure you verify the wallet address in your Bitvavo account to safeguard your tokens.