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

[prismanet]

Prisma - Discontinued.

[FreakCoder]

Is this a coin or a token ICO?

[2bfree]

Is this a coin or a token ICO?

Can someone translate this in plain English so a 10 year old can understand what this is? Sorry but I don't understand what this is?? I'M CONFUSED!!!!

[juanmarcus]

good day sir just in case you need a translator can you reserved Filipino Translation for me thank you very much and God bless.

[Continuous]

Posting it for you so users can see the images on it.



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

Resources

Website

White Paper

Documentation

Community

Slack

/prismaproject/Lobby]Gitter

Twitter

Telegram

[prismanet]

Posting it for you so users can see the images on it.



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

Resources

Website

White Paper

Documentation

Community

Slack

/prismaproject/Lobby]Gitter

Twitter

Telegram

Thank you, we have removed the picture from top post temporarily until we get an higher rank with this account. Thanks again!

[zneww]

Is there any bounty program?

[Iwuzhaxxed]

Looks like a nice concept. I see this one dueling IOTA for the new tech crown. Good luck, I hope to be able to take part in the testing phase.

I'm assuming that this will be launched with an ICO since there is no mining. Any idea when that may be?

[prismanet]

Looks like a nice concept. I see this one dueling IOTA for the new tech crown. Good luck, I hope to be able to take part in the testing phase.

I'm assuming that this will be launched with an ICO since there is no mining. Any idea when that may be?

Is there any bounty program?

It will be launched with either an ico or a donate and receive. So far there is no planned date for launch, but will announce when there is one. We will have a signature program, bounty program, and twitter bounty program. There will be a certain amount generated in the genesis event. In Prisma it is called an event since no blocks exists. When we reach beta version 1.0.0 we can begin the public testing phase. Beta should be reached before 2017 ends

[prismanet]

Is this a coin or a token ICO?

Can someone translate this in plain English so a 10 year old can understand what this is? Sorry but I don't understand what this is?? I'M CONFUSED!!!!

We understand that this can be quite hard to understand since its quite novel technology. Please join our slack and we will explain more.

[prismanet]

good day sir just in case you need a translator can you reserved Filipino Translation for me thank you very much and God bless.

We would very much like a translation, please join our slack and we can talk more all translations are welcome and will be rewarded upon release.

[prismanet]

Is this a coin or a token ICO?

Its a new cryptocurrency coded from scratch. In other words, not a token. Its been in development for the past 6 months and will be developed for years to come.

[sorry_one]

Awsome!

[Watanabe1505]

good day sir just in case you need a translator can you reserved Filipino Translation for me thank you very much and God bless.

We would very much like a translation, please join our slack and we can talk more all translations are welcome and will be rewarded upon release.

I would like to reserve Vietnamese translation for this project. Contact me if I get approvals

[prismanet]

good day sir just in case you need a translator can you reserved Filipino Translation for me thank you very much and God bless.

We would very much like a translation, please join our slack and we can talk more all translations are welcome and will be rewarded upon release.

I would like to reserve Vietnamese translation for this project. Contact me if I get approvals

Great!

[prismanet]

Awsome!

Yes, this is quite interesting technology(consensus algorithm), no other currency has it except us.

[dsertov]

Hey, I was interested to know how you envision your company developing in the next few years. Good luck!

[taidulvseh78044]

It's very interesting and I'll keep a close eye on it

[prismanet]

Hey, I was interested to know how you envision your company developing in the next few years. Good luck!

To answer that question i must first explain what current shortcomings in some(or most) cryptocurrencies are. Block chains are a great invention and solves the problems with proof systems for transactions. You typically have a merkle tree with merkle roots to prove integrity. On top of that you usually also have a proof system, let it be Proof of Work or Proof of Stake. This would be the typical blockchain as we see it today. The problem here is several things,

1. You save every transaction ever made in a ledger of blocks/chain of blocks which causes an immense demand of storage size.
2. The proof system might be so ineffective that you can not run it on small devices with limited capacity such as a cellphone.

You also got the problem that you typically have what you call block times, which means that you have to wait a certain amount of time before a transaction is confirmed. However there are a lot of other cryptocurrencies out there that offers what you call instant transactions.

My personal opinion here is that if we combine the following shortcomings there are no true decentralization. Some cryptocurrencies solve these things by having what they call a "light wallet". True decentralization should be; Everyone should be allowed to run a node, get rewarded for it, no matter what the computing power is. And essentially we are talking about cellphones right now. Everyone should be able to run a node which has a limited amount of storage, such as a cellphone.


Answer: Prisma aims to solve the above shortcomings. This is no easy task, but we have proven in our current development that we are on a verge of accomplish this. No heavy duty computing operations, minimal storage size and instant transactions. Once we have a stable version and have began the Rust implementation we can add more services. Right now it's about creating a foundation for a new type of cryptocurrencies.

[prismanet]

It's very interesting and I'll keep a close eye on it

Thank you.