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Prisma offers a number of features that current blockchain technology lacks. By moving away from blockchain technology and use what we call a cryptograph, Prisma enables features such as removing unnecessary transaction history and event data using a technology called fixed consensus state, near instant transaction speeds only limited to the wire speed and latency of the peer-to-peer network and the potential to have thousands of transactions per second sent through the network. Prisma also removes the necessity of heavy operations proof algorithms such as Proof of Work. This white paper will explain the above technologies and how they are used in Prisma.
The efficiency of Cryptograph In Prisma there is no unnecessary work like in a blockchain. Whether a transaction happens or not in a blockchain there must be a new block mined. In the case of proof of work with the purpose of confirming transaction data within blocks, the electricity is wasted on a higher level of computations which demand costly mining rigs. Distributed systems have to possess the property of Byzantine fault tolerance. In the present paper, the Byzantine agreement is not used in a weak formulation (Castro 1999), but as it was originally defined (Lamport 1982). The FLP theorem states that there is no such deterministic Byzantine system that can be totally asynchronous, with message delays and which guarantees consensus (Fischer 1985). But it is possible for a nondeterministic system to achieve consensus with probability one. The cryptograph consensus algorithm is asynchronous, nondeterministic, and achieves Byzantine agreement with probability one (The Swirlds hashgraph.). In Prisma the use of Byzantine agreement eliminates the need of confirming blocks. The significance of this Byzantine agreement is that it avoids the issues mentioned above (Lamport 1982, Fischer 1985). Instead the system has a built-in mechanism for exchanging the messages and reaching consensus. During these message exchanges for reaching consensus the members participate in virtual voting. For the n members, a yes/no question may be decided based on voting. The unique feature of this algorithm is that a single yes/no decision can be expanded and replicated to other transactions in events. In this way the decision of a total order of transactions can be accomplished without the need of heavy computational tasks. There is no role of cryptograph in sending the votes over the network because all voting in this algorithm take place virtually on the local node.
Fixed consensus state One problem that blockchain technology experiences is a constant increase of the blockchain database size. The implementation of the cryptograph in Prisma solves this issue by being able to remove old transaction history and essentially events, or blocks as it is called in a blockchain. Once Prisma reaches a consensus regarding the transactions in the network it is safe and mathematically proven to create what is called a fixed consensus state. This is accomplished by collecting all transactions made since the last fixed consensus state and creating a single database entry per public key and the funds it holds. All accounts that hold zero funds will be removed to even further save storage space. This technology make is possible to have an estimated increase in consensus database size of only 30 megabytes per year.
High performance transaction speeds Unlike blockchains where you have block times, the cryptograph does not utilize any time limits or expectations when a transaction might be processed. A transaction in Prisma are processed immediately as the new event containing the transaction arrives at a network peer. Since the cryptograph is able to handle the constant flow of new events and transactions, the average number of transactions per second are only limited to hardware performance of the peer that is running the Prisma software, internet connection speed and network latency. In optimal conditions the event propagates exponentially fast, 2^(t/2) number of nodes in t seconds.
Current state of development Prisma is developed from scratch and have its own code base. The current version of Prisma is 0.1.0 alpha. We have proven that the algorithm works in a real networking environment and that the fixed consensus state works without any proof of work. When we reach 1.0.0 beta the public testing can begin.
Roadmap For Prisma to grow even further as a cryptocurrency we need to continue to develop further functionality. Because of the efficiency in the consensus algorithm it enables us to focus on real world usage and instant payments. Our plan is to extend the platform onto cellular devices, having the cellphone act as a full temporary node while a payment occurs not involving any third party wallet gateway (in some cases this refers to a light wallet or electrum). Also a NFC payment solution will be offered, this will make it easy for 2 party's to make payments using a cellular device. Also a multi-signature wallets from cellular devices will be proposed. This means full decentralization. The future usage of Prisma also demands development in a more performance efficient language. We will therefore develop a Rust version with the help of the reference implementation in Python.
Meet the team Development
Joey B - M.Sc.Eng, Network engineering.
Oleh Y - Dr. hab. in Mechanics. Associate professor.
Atik - M.Sc.Eng, Computer Science.
Nadiia Lutsyk - Ph.D. in Computer Science, Associate Professor
ResourcesWebsiteWhite PaperDocumentationCommunitySlack/prismaproject/Lobby]GitterTwitterTelegramThank you, we have removed the picture from top post temporarily until we get an higher rank with this account. Thanks again!
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