PRISMA - Third Generation, Non-Blockchain, New Consensus Algorithm, New codebase

[prismanet]

This is actually wrong. This project seems like its run by scammers or copycats. There aren’t real pictures of the people (just cartoons) and I don’t think there was an attempt to even reach out to the Hashgraph guys - just to make a quick buck creating an ICO based on technology that wasn’t theirs.

"Small changes" do not make a protocol unique and all DAGs are not created equal, nor are they all similar. I have read the white paper and patents and the innovation of the Swirlds Hashgraph was virtual voting and gossip about gossip. These are actually very substantial innovations and differentiate it completely from other DAGs e.g. IOTA, DAGchain, Byteball etc. It is what allows the Swirlds Hashgraph to have the speed, fairness and security properties that it has. These characteristics make it very unique, which is why a patent was awarded in the first place.

You cannot simply “get around” innovation / patents with “small changes” like the people behind this project suggest above. You would most likely still be breaking the patent but that is not even the main problem - the main problems are:

1) By making "small changes" to an innovative technology you didn’t create, instead of inventing your own, you are indicating to the market that you cannot be innovative yourselves, because you want a quick cash grab from an ICO.

2) You are launching what is essentially an ICO based on someone else's hard work.

3) You are launching an ICO which could be illegal.

4) If you guys do get into a lawsuit, there goes the value of the project

In summary, you cannot simply make “small changes” and say “see it just looks like other DAGs" and have a new protocol. DAGs have different properties, and the Hashgraph one is especially different. Ask a lawyer and you’ll see I’m right.

And more importantly, this isn’t the way legitimate projects work. Be innovative and ICO that. Don’t be copycats just trying to get around patents and making "small changes" to a technology that you didn't invent. I would never buy into an ICO like that.

You have missed the whole concept here.. sorry. It will not be a copy of anything. We are moving away from using a hashgraph, it will not be used anymore. We are creating our own consensus protocol and it will unique in crypto. If you want a technical discussion i can take that anytime with you on slack. DAG currencies share the same basic principles, how you handle consensus is a different issue. Please join slack and i will explain how it works because you obviosly dont have a clue.

I see that you also are somewhat affiliated with Swirlds. You can tell them that we wont use their work... gossip protocols have been around for ages. If you look at their work its based on someone elses. We have studied this a lot and have several lawyers involved. Please dont suggest anything else that we dont know what we are talking about here. We will not use their hashgraph, because we dont need to. We will use our own implementation, period. White paper, website and all of the branding will be redone during the upcoming weeks. Second, swirlds patent might actually break rules as well. We have found papers dating back to 2014 that is very very similar to their work, its nothing unique. I think you can imagine that the crypto community will not receive a closed source or a closed ledger cryptocurrency that is patented very well... people just dont trust their money with it. Actually its hilarious. Our version will be open source, it will be similar in efficiency.

Second, show me a open source cryptocurrency that is leaderless and is based on a DAG that got high performance tx speeds and is performance efficient... this is what Prisma is.

Third, do you really think that our PhDs in our team would risk their academic reputation by creating something like a scam?

Before you join our slack, read up on DAGs and this paper

"Scalable and leaderless Byzantine consensus in cloud computing environments.", if you recognize anything from this paper, let me know.

Authors:

JongBeom Lim
·
Taeweon Suh
·
JoonMin Gil
·
Heonchang Yu


/Joey - lead developer

[vegita1233]

I am interested in this project.  Interesting concept.

[kwell]

Update:

We reached out to swirlds about a week and a half ago about licensing their patent. They said that they would not license a cryptocurrency because they are planning to release their own closed source cryptocurrency someday. So over the past week and a half we have been looking into patents, other implementations and talking to several lawyers. In the meantime we took down our whitepaper, and moved several things to different locations. Instead of using the Hashgraph algorithm by Swirlds Inc., we will be making our own consensus algorithm using leaderless state machine replication. It will have similar performance to a hashgraph but it will be completely unique. Once we publish our new whitepaper it will explain how our algorithm works. Although this is a slight setback since we had reached Alpha stage using the hashgraph algorithm, it shouldn't take to long to write our own and provide proofs that it works. Development on our new consensus implementation starts yesterday .

Thank you guys for your support!

[ripbit]

Joey, thanks for your response

1) I am not affiliated with Swirlds. I actually run my own crypto fund. I just like their technology.

2) Gossip protocols have been around for a long time, but I said “gossip about gossip”. My understanding is that that is one of the key innovations.

3) If you build another protocol, thats cool. Good luck. Thats what I was suggesting.

4) Send me the link to "Scalable and leaderless Byzantine consensus in cloud computing environments.” and I’ll take a look

5) I’m interested to see the innovation in your white paper when the revised, non Hashgraph, version comes out.

[kwell]

yes as I said we reached out to them.
here are some much older articles
Birman, Kenneth; Thomas Joseph (1987). "Exploiting virtual synchrony in distributed systems"http://portal.acm.org/citation.cfm?id=37515&dl=ACM&coll=GUIDE
Schneider, Fred (1990). "Implementing Fault-Tolerant Services Using the State Machine Approach: A Tutorial"http://ecommons.library.cornell.edu/bitstream/1813/6640/2/86-800.ps

this is the newer one you requested a link to. Scalable and leaderless Byzantine consensus in cloud computing environments https://link.springer.com/article/10.1007/s10796-013-9460-7

[Northa]

What about global regulations? Are you planning adding KYC verification? USA and China citizens can't participate in the PRIZMA ICO?

Nice fud I'm glad everything is being resolved.

[prismanet]

What about global regulations? Are you planning adding KYC verification? USA and China citizens can't participate in the PRIZMA ICO?

Nice fud I'm glad everything is being resolved.

The ico details will be determined before it's announced. KYC sounds a little intrusive to me though. We could limit based on ip, but everybody knows how to VPN or use a vps in Europe. But it will be announced.

[prismanet]

Press release

https://prisma.pw/announcements/press_release_20171013.pdf

[Northa]

What about global regulations? Are you planning adding KYC verification? USA and China citizens can't participate in the PRIZMA ICO?

Nice fud I'm glad everything is being resolved.

The ico details will be determined before it's announced. KYC sounds a little intrusive to me though. We could limit based on ip, but everybody knows how to VPN or use a vps in Europe. But it will be announced.

Major problem is that in recent times exchanges haven't adding new coins. And KYC process can be a cause of refusal.

Press release

https://prisma.pw/announcements/press_release_20171013.pdf

Things don't always go as planned. Will wait for updates.

[prismanet]

The old press release is no longer valid. A new press release, slightly adjusted can be read here,

http://prisma.pw/announcements/press_release_20171016.pdf

[kuky004]

When does ICO start?

[Anzylon]

When does ICO start?

It is being planned, first comes the new whitepaper.

[U]

Press release

https://prisma.pw/announcements/press_release_20171013.pdf

Link not worked.

Found.Thanks.
http://prisma.pw/announcements/press_release_20171016.pdf

[Northa]

Hi, prismanet! So how are things going with development of the new algorithm? Maybe you have some news for us?

[stuffedcobalt]

Idea is good . the team is very strong , i think that is good project worth to invest

[Northa]

Idea is good . the team is very strong , i think that is good project worth to invest

You're right, it's a worthy project. But lately we are haven't receiving news about development of the project. And that's not good.

[Anzylon]

Idea is good . the team is very strong , i think that is good project worth to invest

You're right, it's a worthy project. But lately we are haven't receiving news about development of the project. And that's not good.

Team is working on a new consensus algorithm and re-writing the whitepaper, we want to make sure that everything is ready to go before announcing

[Iwannacry]

When does ICO start?

It is being planned, first comes the new whitepaper.

Hello dev, Will Prisma's ICO be launch as the date as annoucement?

[Haug]

I would like to join this airdrop, looking forward to get the reward.

[Louise316]

Such a good project
Great and solid team
Promising coins...
Power...