Through the prism of time: the history of the PRIZM cryptocurrency from creation to the present day

The Prizm project was launched in 2022. Suspicions immediately arose that this was a pyramid and a hype project. When the Prizm cryptocurrency began to have problems in mid-2022, the rate fell from 1 dollar to 7 cents, and the developers had to restart the Prizm blockchain, these suspicions were strengthened. However, the project is alive, and investors, according to them, are making a profit. Let's look at the features of this cryptocurrency and the risks of investing in Prism.

PRIZM (PZM)

PRIZM - a new generation cryptocurrency

PRIZM (PZM) is a decentralized cryptocurrency built on the blockchain. PRIZM's core function is a traditional payment system, but it was created to do much more. Unlike other cryptocurrencies, it has a radically new mining system, which has two types of mining at once - Paramining and Forging. Prizm also has the latest unique development - building a structure of followers, dependencies between users, which is implemented for the first time only in the Prizm blockchain. It is thanks to the structure of followers that Prizm stayed afloat and did not lose its liquidity in the cryptocurrency market, while other cryptocurrencies were rapidly falling in price in early 2022. This is due to the fact that people have an additional incentive to actively spread the word about Prizm. As it turned out, this is a very powerful foundation for cryptocurrency, something that other crypto projects lacked, many of which went into oblivion. Now we know that this definitely won’t happen with Prizm.

Prizm appeared on February 17, 2017. Created on the basis of the system core - NXT-core, modernized and improved. Curve25519 cryptography is used. Blocks are generated approximately every 60 seconds.

Price PRIZM (PZM) - 0.36 rubles.

Genesis wallet: PRIZM-TE8N-B3VM-JJQH-5NYJB

The total maximum supply of coins is limited to 6,000,000,000 PZM.

The number of coins in circulation is about 1,500,000,000 PZM.

Daily sales volume is about $1,000,000 (including all exchanges and p2p sales)

View price chart on exchanges in Coinmarketcap

Where to store Prizm cryptocurrency

The developers of the coin took care of the convenience of users: you can create a Prizm wallet on almost any device. Moreover, all versions of the wallet are free and easy to install.

1) Online wallet

You need to go to the official website of the Prizm wallet and click the “Registration” button located in the upper right part of the screen.

A window with a passphrase will open. It will need to be changed: enter 16 arbitrary letters of different case in random places.

A window will appear in front of you to check your data. Save the words indicated in it. They will be needed to enter the wallet and restore it.

Important: Do not store the passphrase on your computer. If it is copied by attackers, you may lose your funds. Write it down on a piece of paper and hide it, it’s safer.

After clicking the “Sign in” button you will be taken to the authorization form.

You will need to enter the previously saved phrase into the empty field, after which you will be redirected to the Prizm wallet. The wallet address will be indicated at the top of the page. By clicking on it, you can see other data:

• public key;
• User ID.

2) Desktop wallet

Desktop wallets are those installed on a computer. Their main advantage is safety. All keys are stored on the hard drive of your device and no one except you has access to them.

you can from the official Prizm branch on Github.

Three operating systems are supported:

• Windows;
• Mac OS;
• Linux.

Select the one you need and click on its name. The application will begin downloading immediately. After installing it, you will be prompted to register your wallet. The process is no different from creating an online wallet.

3) Mobile wallet

The mobile wallet can only be used by owners of Android devices. There is no official Apple version yet.

Important: follow the changes on Github. The developers promise that a wallet for iOS will appear soon.

To work, you will need to download the Prizm application on Google Play.

After installing it, you will be asked to create a new wallet or log into an existing one. The functionality of the mobile wallet is similar to that of other versions. The only difference: to enter the application you will need to come up with a four-digit PIN code.

Paramining

Paramining Prizm is a mechanism for calculating rewards for storing funds. The more coins you have in your wallet, and the more coins you have in the structure of your followers, the higher the percentage of accruals you receive. This process of obtaining new coins is separate from mining, which provides rewards for processing transactions and entering them into the blockchain, which is called Forging. Paramining is an excellent passive income.

Paramining does not require large computer capacities. Moreover, for Paramining to work, you do not need to keep the computer turned on; the calculation and receipt of new accrued coins occurs at the time of execution of the transaction, outgoing or incoming.

What's happening with the Prism course?

The Prizm rate was pegged at $1 and the first months of the project’s existence remained approximately at this level, but in July 2022, Prizm began to have problems: the site stopped working, users stopped seeing coins in the balance of their wallets. Over time, the developers solved the problem by restarting the blockchain, user balances were restored, and new wallets with an increased degree of protection appeared. The transfer of coins was completed only in September - during this time the rate dropped to 7 cents, many suspected the project of an exit scam and got rid of their coins. You can follow the course here.

After this, the rate gradually began to recover, although it never reached $1. The maximum values ​​were recorded in the fall of 2022 at 75 cents, then the rate sank again and, as of January 2022, is 25 cents.

The coin ranks 202 in the CoinMarcetCap ranking with a capitalization of $125 million and a daily trading volume of $440,000.

To make money on Prizm through paramining, you need to keep at least 1,000 coins on your balance, that is, at the current rate, you need to invest at least $250, or about 15,000 rubles, in the cryptocurrency. But users who have fewer coins in their wallet can put them into a pool where their coins will be pooled with others. This makes it possible to earn money from paramining with small financial investments. Theoretically, even if the price of prisms falls slightly, investors can cover the losses from this fall with income received through paramining. But a serious drop in the exchange rate will still lead to losses.

Forging

Forging is a mechanism for calculating rewards for recording transactions in the blockchain and maintaining the network. Prizm cryptocurrency operates on the Proof-of-Stake algorithm (POS mining). But unlike classic POS mining, those who engage in Forging are not awarded new coins; they receive rewards from commissions for transactions that were included in the block. The commission is 0.5% of the transaction amount. Each account has the ability to generate blocks, provided that at least one incoming transaction in the account has been confirmed 1440 times.

Forging (from English Forging) is the creation of a node. There are two types of knots: marked and regular. A token node is simply a node that is marked with an encrypted token that shows the account address and balance associated with the node. The act of placing a mark on a node adds a layer of accountability and trust, so marked nodes are more trustworthy than unmarked nodes in the network. The more account balance is tied to a labeled node, the more trust is given to that node. Each node on the Prizm network has the ability to process and transmit both transactions and block information. Blocks are verified as they are received from other nodes, and in cases where block verification fails, nodes can be "blacklisted" temporarily to prevent invalid block data from being propagated.

Anyone can set up PRIZM forging if they have the necessary computer parameters and uninterrupted electricity and internet.

In Prizm, each block contains up to 255 transactions - all of them are preceded by a 192-byte Header, which contains identifying parameters. Each transaction in a block is represented by a maximum of 160 bytes, and the maximum block size is 32 KB.

Review

Crypto is stored in accounts on the PRISM wallet website. Each of the coins, according to the creators, is a mining device. More crypts in your account means there is a greater chance of creating a new block. The system has so-called top accounts - there are only five of them. True, it is unclear what their top priority is and what privileges they have. All accounts seem to compete with each other for the right to create a new block. An automatic mining process is promised after the balance reaches 1000 coins.

A flat fee of 0.5% is charged for each transaction. This amount is distributed among all accounts participating in the block generation.

To date, there are about 15 million PZM tokens in circulation, of which 10 million were issued pre-mine. The total issue should be 6 billion. The current price of the PRISM cryptocurrency fluctuates around $1, although the developers declared a fixed price of $1.2.

According to CoinMarketCap data, the token is in 387th place, and its capitalization is $15.5 million.

You can sell or buy PRIZM cryptocurrency on several platforms - BTC24, btc-alpha and Alcurex. True, the exchanges are kind of strange and there is little activity on them. When visiting the vk currency community, it turns out that the crypt can be exchanged on the prizm247 portal. Moreover, the exchange goes only in one direction - you can only exchange dollars for PRISM. No other exchangers work with this virtual currency.

Prizm percentage table

Number of coins in your personal wallet:

Number of coins in followers' wallets 88 levels deep

How to send coins to projects or other people?

To send PZM, log in to your wallet and use the “ Send ” link, which you will find in the upper right corner of the page.

A small form will appear in which you need to indicate the recipient's wallet address, his public key and the amount of coins. If necessary, you can specify a comment in the appropriate line. Finally, click the “ Proceed ” button.

The Prizma system will allow intelligence agencies to take Internet users under their thumb

Apparently, in the very near future the Internet will cease to be a zone of absolute freedom. Domestic intelligence services have prepared a whole arsenal of monitoring and surveillance tools for social network users. However, this problem is relevant not only for Russia.

It all started with personal experience. At some point my life turned into a nightmare. All the evil in the world was concentrated for me in a troll from a social network, who every day threatened me with violence and urged users to carry mourning wreaths to my house. As a result, I stopped walking in the yard with the child and quietly waited for something bad to happen. A week later, having received another infernal message from the mysterious stalker, I turned to a friend of mine, an employee of one of the law enforcement agencies. “It’s okay,” he explained. – Finding a person who constantly surfs the Internet is as easy as shelling pears. If you get on the Internet, then almost everything becomes known about you.”

Address? Please!

When later, on occasion, I asked the owner of Internet resources, Evgeny Kharybin, whether he provides personal data of users of his social networks to the intelligence services, I heard an extremely direct and frank answer: “Of course, we do. According to the communications law adopted in Russia, the provider is required to certify the communications center with the FSB. Theoretically, the intelligence agency should connect its equipment. But most often they are not connected because the equipment is old. Or just lazy. It all ends with the intelligence agencies calling us and requesting data on certain IP addresses in order to determine what user so-and-so did during a given period of time. What sites did you visit, with whom did you correspond? If he is, for example, a terrorist or a pedophile, then you can trace the trend in behavior and find accomplices. Have we been asked to leak IP addresses? Yes, they asked, and according to the communications law we had no right to refuse.”

“Social media is not your friend. They collect data about you. Social media surveillance is much more than you think. Never use the Like button - clicking on it immediately transfers your data to other people. Social networks are taking your data and misusing it.” This loud statement was made by Internet guru Richard Matthew Stallman, founder of the League for Programming Freedom. Stallman also sharply criticized Facebook’s statements about the confidentiality of information that users publish on the social network. According to the leader of the movement for freedom of programming, the information that a user “posts” on the “wall” can be used by the Network “in any way.”

Actually, all this has not been a secret for a long time. The head of the Livejournal product development department, Dmitry Pilipenko, openly admits: “In LiveJournal, the user has a choice whether to allow information to be processed in his journal or not. Accordingly, by allowing indexing, the user voluntarily agrees to the analysis of his content by search engines and other systems that collect and analyze data. In addition, the service provides the ability to create private data that is inaccessible to search engines. There can be no invasion of privacy in this case.”

Automatic search for enemies

However, in the near future, significant changes should occur in the system of work of intelligence services and social networks. The Federal Security Service is going to automate the work of monitoring the Internet space in search of threats to the system of government and its representatives. The project budget is 31.8 million rubles. It is assumed that information materials on the networks will undergo pre-processing and will be grouped into specific topics: “president”, “leadership of the presidential administration”, “prime minister”, “opposition protests”, “governors”, “negative events in the country”, “ incidents”, “criticism of the authorities”. The social network monitoring system in question is called “Prism”. It was developed at the time. On the “Medialogy” website we read: “Prism” “monitors social media activity that leads to an increase in social tension: escalation of unrest, protest sentiments, extremism; discussion of price levels, salaries, pensions; problems of housing and communal services, infrastructure, medicine and others.”

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In addition to the presidential administration, Prism will be used by some federal officials, as well as the leadership of the Ministry of Internal Affairs, the Moscow City Hall, the office of State Duma Speaker Sergei Naryshkin and employees of Rosneft head Igor Sechin. “Prism” can monitor not only social networks, but also stand-alone platforms (personal websites and blogs). In total, according to the developers, 60 million sources thus fall under the Kremlin’s eye. At the same time, the system analyzes the tone of statements, shows the dynamics of positive and negative reviews in blogs about a particular event over the past 24 hours, and also builds a graph of information attacks.

Rumor has it that it was the local application of this monitoring that helped “drain” the protest in Russia. Indeed, systems for monitoring and analyzing network information were developed by the end of 2011 and were implemented in the first half of 2012. It is this period that is considered the time of attenuation of protest activity.

The end of “free discussion”?

It's no secret that any social networks, including Russian ones, are a business, and a very profitable one. To preserve it, the owners will do anything. Here, even without Prism, in 2011–2012 the arrows were smoothly changed. Sometimes, in the midst of a period of protest activity, you go to TOP LJ, and there in the top lines is another voyage to the exotic country of the eternal online traveler. Or the revelations of “Prostitute Kat”, or the eternal problems of psychologists who advise users how to take revenge on their mother-in-law or annoy their husband’s mistress. It was the first page of the popular social network that largely changed public opinion during the period of protests. And then there is the Bloggers Club, created not somewhere in an Internet cafe, but under the auspices of the state news agency RIA Novosti - now Russia Today.

It would be naive to believe that the purpose of monitoring social networks is only to search for dissidents. The Foreign Intelligence Service was one of the first to test the new system. Back in the summer of 2012, SVR began working with innovative media community management programs that make it possible to make the necessary information injections. The first results appeared by the end of 2013: then the blogosphere began, albeit unofficially, to call President Vladimir Putin “Person of the Year.” There, on the networks, if you remember, there was information about Putin’s nomination for the Nobel Peace Prize. After the SVR, the Russian Foreign Ministry entered the IT propaganda field. The ministry created a special unit, which set the goal of “competing in propaganda with European and American “human rights activists.” The main idea of ​​the Ministry of Foreign Affairs is to “mirror” the activities of propaganda organizations in the US and EU.

I think it is no coincidence that all these systems appeared almost simultaneously with the Rossiya Segodnya news agency, whose goals were declared “strategic” in shaping the image of Russia abroad.

Are Americans against Facebook's principles?

However, it is not only Russian intelligence services that are involved in working with social networks. In the United States, a scandal is now growing due to the fact that Facebook uses the personal data of its users for personal gain, “exposing” users’ private messages. The lawsuit was filed in Northern California District Court by Matthew Campbell of Arkansas and Michael Harley of Oregon. By the way, back in August 2013, Facebook undertook to pay $20 million in pre-trial order as compensation for the use of user names and photos in advertising blocks. About 614 thousand people should have received compensation under the class action.

Although there is still no need to worry about total control over the mentality of Russians. The Ministry of Telecom and Mass Communications recently released data on how many of our citizens have access to the Internet. It turned out that in Russia small settlements where there is voice cellular communication, but where there is no both wired and wireless access to the Internet, account for 38%. So, apparently, for now only a narrow circle of well-known bloggers will be “monitored” by the special services. Known to the same narrow circle of Internet users from large cities.

Advantages and disadvantages of Prizm

The Prism cryptocurrency has many positive and negative qualities. If we start with the good, then its advantages include:

• Available software for clients that supports the main functionality of the network. It can be downloaded using your local web browser. We created this software using JavaScript;
• Prism has a unique “paramining” technology, which was created specifically for this project;
• Modern eco-crypto POS technology is used. Thanks to it, you can significantly save on labor-intensive and energy-consuming systems that are used in POW;
• The blocks are formed quite quickly, which is important if the user wants to use taps. As already mentioned, the average time it takes for another block to appear in the blockchain is 59 seconds. And this indicator is not affected by the number of transactions;
• Transactions can be accompanied by encrypted comments;
• There is a global P2P system PRIZM.STORE. There you can freely convert coins at a fixed price.

Now let's look at the disadvantages of Prizm:

• The project was promoted by experienced scammers. They have deceived people more than once. But nevertheless, they have nothing to do with the creation of the project, therefore this disadvantage is conditional;
• To start mining, you must have at least a thousand coins in your account. And who doesn’t remember - one coin costs 1 dollar;
• The mining process and connecting Prizm to cryptocurrency services cannot be carried out due to the administrators’ strategy. Simply put, the project is closed. This raises suspicions.

In general, Prisms have many advantages, but also very serious disadvantages. Therefore, it is advisable to think carefully before deciding whether to become an investor in this coin or look for other projects where there are not many questionable aspects. Nevertheless, the project has been recognized by many countries, and users are actively exploring it. This means he inspires trust.

Who are the founders

There are several founders of the Prism cryptocurrency. Among them:

• Alexey Muratov is one of the active participants of MMM 2011. As you probably know, later, the organization banned in Russia expanded its activities in Africa and India, where Muratov was accused of embezzling savings, was arrested, and then left the country.
• Yuri Mayorov is the head of the developers of the PRIZM cryptocurrency. He is also called one of the organizers of MMM-2011.
• Dmitry Vasiliev is the founder of the WEX exchange, who does not hide and has nothing against the fact that the PRIZM cryptocurrency is a financial pyramid.

Other organizers/founders remain in the shadows and there is practically no information about them (maybe I didn’t look hard enough).